Boyum IT Solutions today announced that UK-based Volpi Capital has acquired a majority stake in the company and will become lead investor to power the next phase of the company’s growth.
As part of the transaction, Boyum IT Solutions’ management team will remain in the company with a significant ownership share and will continue to execute the existing strategy, while current investor GRO Capital, who in 2016 acquired 49,9% of the shares, is exiting.
Mikael Boyum, founder and CEO of Boyum IT Solutions looks forward to the collaboration with Volpi Capital and to creating an exciting future for the company, employees and partners”: “GRO Capital saw the strength and potential of Boyum IT Solutions’ business model and organization four years ago. We have highly appreciated their trust in us, and our cooperation has been fantastic. Now, we look forward to continuing to grow even further the business and we’re thrilled to be partnering with Volpi Capital which will strengthen our continued growth plans and business potential”.
Boyum IT Solutions has been on an impressive organic and inorganic growth path, doubling revenues from 2016 to 2020. Today, the company, with 100 employees in 7 global offices, is one of the key players in the global market for manufacturing and logistics software solutions for SAP Business One and is recognized as a strong partner in the SAP ecosystem.
“We have established ourselves as the leading supplier of manufacturing and logistics software to those customers who use SAP Business One as an ERP platform globally. With the acquisition of Beas Manufacturing in 2016 and Produmex in 2018, we have scaled further our company across products and geographies. As a Tech focused PE firm and with their international platform with a Pan EU and North American team, Volpi can contribute to realizing our ambitious growth plans, including improving our software solutions, as well as strengthening our global presence,” continues Mikael Boyum.
Volpi has great faith in the macro factors in the ERP market and in Boyum IT Solutions’ strong market position, which is expected to support continued high growth in the company: “Boyum IT Solutions has shown how to create growth through a strong partner focus, technological expertise and a unique way to enable their partner channel. The potential is great for Boyum IT Solutions globally, and we look forward to accelerating their successful business model,” says Marco Sodi, partner at Volpi Capital.
“We are very pleased to partner with Mikael and the management team to further build this high growth platform. The company’s’ market-leading position in the industry is based on a customer-oriented corporate culture with highly skilled and dedicated employees who have established strong relationships with partners and end-users. The competent organization combined with a robust and scalable business model, based on unique competencies in product development, high technical standards and efficient routines, are all factors that make Boyum IT Solutions an attractive partner”.
GRO Capital has been very pleased with the journey the past 4 years together with the Boyum team: “Boyum has been an exciting journey for us as well as a very good investment. We have achieved a lot together, and the company is now ready and well positioned for the next stage in its development. Boyum has an outstanding management team and it has been a true pleasure working with them and the rest of the board driving the strategic direction through successful M&A, targeted enablement of the partner network and development of a unique data platform supporting the day-to-day operational decisions”, says Lars Lunde, partner in GRO Capital.
The Chairman and owner of Lanell and Stenfeldt Capital Group, Niels Stenfeldt, will continue as chairman in the new structures.