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De Bouwmeesters is a nationally operating temporary employment agency for the construction industry. They connect both employed and self-employed professionals to construction companies, who are thus assured of professionals on the construction site. At the same time, the construction worker is assured of well-paid and honest work. The Bouwmeesters takes care of the administration, payments, collective bargaining, and pension plans, plus the correct certifications. With the takeover of TMB Bouwservice B.V. in March 2021, the company is making another giant leap forward.

Acquisition TMB

The Bouwmeesters temporary employment group has been in existence since 2012. Director/Owner Henry Veugelink: “After the acquisition of TMB, we have over 160 construction workers in our file for whom we mediate. As everyone knows, there is a huge shortage of construction workers, while the demand for good professionals is steadily growing. At lunchtime, I usually call out across the office: close the doors and windows, or we’ll be trampled,” adds Henry jokingly.

Financing growth

For working capital financing, Henry has been dealing with Xolv since August 2019: “We were able to finance the acquisition of TMB from our own resources, so we didn’t need any financing. But after the acquisition, our turnover grew considerably and thus did the need for financing. Until that time, we always approached our bank, but they apply strict conditions and are not very flexible like all banks. So, it was time for a specialized broker. Around that same time, a mailing from Xolv arrived on our mat. Their story really appealed to us, and that’s how the ball started rolling.”

Independent consultants

Henry: “Xolv’s financial advisors are entrepreneurs just like us, so they think and act from the interests of their clients. As independent advisors, they think in terms of solutions, not in terms of selling products. The latter is too often the case with banks and insurers.” Xolv advises De Bouwmeesters not only in the area of working capital financing but also in taking out credit insurance. “After all, such credit insurance is a requirement by factoring companies and other lenders. You pay an interest rate of 6% annually, but that ensures you will have 80% of the outstanding claim in your account within one or two days. When you withdraw the amount, you still pay a bit of interest. That all is perfectly manageable, especially considering the financial risks you’re buying off.”

‘Occasionally, I call Xolv just to catch up’

Personal click

At the beginning of the collaboration, Henry had intensive contact with Xolv, particularly with Fred Soers. Henry: “The accessibility and personal contact are very pleasant. Fred and his colleagues react quickly and flexibly and really work alongside you. They are also very accessible: you can just call them on their cell’s even in the evening if you have a pressing question. You will never get that from a bank. Now that all the contracts have been arranged and are all up and running smoothly, our contact moments are a little less frequent. But as soon as anything happens or you have any questions, Xolv responds immediately and quickly comes up with a solution. I Sometimes just call them to catch up. You only do that if there is a real connection.”