After 4 years of successful co-ownership, GRO Capital and Mikael Boyum have signed an agreement to sell Boyum IT Solutions (“Boyum”), a global leader in manufacturing, warehousing and usability software solutions in the SAP Business One ecosystem, to Volpi Capital.

During GRO Capital’s co-ownership, Boyum has grown to become the global leader in manufacturing, logistics and usability software solutions for the SAP Business One ecosystem. Boyum has been on an impressive organic and inorganic growth path, doubling revenues from 2016 to 2020, while building a professional and international organization across 7 offices on 4 continents. Today, Boyum provides their software solutions to more than 8,500 SME customers in more than 110 countries through its network of more than 650 partners.

“GRO Capital recognized the potential in the Boyum 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”, says Mikael Boyum, founder and CEO of Boyum.

As part of the transaction, the Boyum management team will remain in the company with a significant ownership stake and will continue to execute the existing strategy.

Lars Lunde, who has been responsible for the investment at GRO Capital, has been very pleased with the journey 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.”

Boyum is the first exit in GRO Fund I and provides a healthy return to the investors, while being a testament to the commitment of GRO Capital to invest in leading software companies in attractive niche markets, while contributing strategically and operationally through active ownership.

The selling shareholders were advised by Deloitte Corporate Finance, Accura and PwC.

‍
More information

GRO Capital:
Lars Lunde, Partner
+45 2616 6575
ll@grocapital.dk

‍Boyum IT Solutions:
Mikael Boyum, CEO
+45 2840 9730
mbo@boyum-it.com

‍

About GRO Capital:

GRO Capital is a leading North European private equity fund with an exclusive focus on mature B2B software and tech enabled companies with strong growth prospects. GRO Capital serves as active owners developing portfolio companies with a view to create long-term value. The partners behind GRO Capital have been investors in more than 25 technology and software related companies.

For further information about GRO Capital please visit: www.grocapital.dk

‍

About Boyum IT Solutions:

Boyum is the leading Software Solution Provider in the SAP Business One ERP ecosystem targeting the upper SME segment globally. The company has succeeded in establishing an unmatched distribution network of partners through an attractive product offering and comprehensive partner enablement efforts. Boyum offers 3 award-winning and mission critical software product families: Boyum: Horizontal software solutions enhancing flexibility and user- friendliness of SAP Business One, Beas Manufacturing: Advanced manufacturing software tailored to 13 distinct industry verticals and Produmex: Logistics/warehouse management software. Boyum is headquartered in Aarhus, Denmark and employs c. 100 people, of which 30 in Denmark.

For further information about Boyum please visit: www.boyum- solutions.com

‍

About Volpi Capital:

Volpi Capital is a specialist European lower mid-market private equity firm. Volpi has a thesis-driven approach targeting ambitious businesses using enabling technologies to disrupt traditional B2B value chains. Volpi typically invests EUR 25- 75 million of equity in businesses with enterprise values between EUR 50 million and EUR 200 million and seeks to drive transformative growth through international expansion and consolidation.

For further information about Volpi Capital please visit: www.volpicapital.com