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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.

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M&A buy-side
Parties
“We are pleased to announce that ABS has been acquired by Vitec, as this development offers great potential for both the company, its staff and its customers. Oaklins has been instrumental in realizing this transaction, by introducing Vitec as a potential buyer for ABS. Although Oaklins acted on behalf of Vitec, we were pleased they were involved, as their approach contributed to getting this deal to the finish line.”

Anne de Boer

CEO and Founder, ABS Laundry Business Solutions

Talk to the deal team

 Frederik  van der Schoot

Frederik van der Schoot

Managing Partner
Amsterdam, Netherlands
Oaklins Netherlands
 Alexander  Gryson

Alexander Gryson

Director
Brussels, Belgium
Oaklins KBC Securities
 Jan-Pieter  van Doorn

Jan-Pieter van Doorn

Associate Director
Amsterdam, Netherlands
Oaklins Netherlands
 Ivo  de Bruin

Ivo de Bruin

Analyst
Amsterdam, Netherlands
Oaklins Netherlands

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