Gamst joined the family business as a partner in 1811 and became its sole owner in 1829. In 1836 the name of the company was changed to H. Gamst & H. C. Lund when Gamst's nephew Hans Christian Lund became a partner. In 1854, it was taken over by P. J. Winstrup and V. C. Gamél. In 1872, it was taken over by Johannes Henrik Hellerung and J. C. Hauberg.