Vitec Software Group AB has acquired ABS Laundry Business Solutions

July 2022 — 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."

Our role in the transaction

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.