Vitec Software Group AB has acquired ABS Laundry Business Solutions
Vitec Software Group AB (Vitec) is strengthening its position in vertical market software by acquiring ABS Laundry Business Solutions (ABS), the global market leader in software for the laundry and textile rental industry. By joining forces, Vitec and ABS will be able to further expand on the company’s strategy for the benefit of its customers.
Vitec, which is listed on Nasdaq Stockholm, is the market leader in the software vertical market in the Nordic region, developing and delivering standard niche software. The company grows through acquisitions of well-managed and well-established software companies. Vitec’s overall processes, together with its employees’ in-depth knowledge of the customers’ local market, enables continuous improvement and innovation.
Founded in 1987, ABS serves over 600 laundry facilities across five continents by providing business critical software for the laundry and textile rental industry on a global scale. The company focuses primarily on multi-plant industrial launderers active in various industries, predominantly healthcare, hospitality and industrial verticals, such as construction and manufacturing.
Olle Backman, CEO at Vitec Software Group AB, said: "We are delighted to welcome 140 new employees today and to significantly grow our presence in the Netherlands. ABS is a profitable, well-managed company with an operation that is a good fit with our business model and corporate culture. Oaklins’ guidance and support, by leveraging on their deep software expertise, played a fundamental role throughout the acquisition process."
Oaklins initiated this transaction and acted as the exclusive buy-side advisor to Vitec. This transaction emphasizes our strong track record and expertise in the fast-moving software and SaaS sector.
Anne de Boer
CEO and Founder, ABS Laundry Business Solutions
Talk to the deal team
Frederik van der Schoot
Oaklins Netherlands
Related deals
Winking Studios Limited completes a secondary fundraising of US$20 million
Winking Studios has successfully raised US$20 million to fund its business strategy and future plans, such as strategic acquisitions, alliances and joint ventures as well as secondary or dual listings, to grow the group’s market share and broaden its customer base globally.
Learn moreHaufe-Lexware Real Estate AG has been acquired by Aareon Group, a portfolio company of Advent International
The Haufe Group SE has sold Haufe-Lexware Real Estate AG to Aareon Group.
Learn moreGARAIO has been acquired by Netrics Group
Netrics Group has acquired GARAIO AG as a wholly owned subsidiary. GARAIO will continue to operate as an independent company under the umbrella of Netrics Group. With this acquisition, Netrics Group is further expanding its leading position as a provider of managed cloud and digital workplace solutions as well as consulting services.
Learn more