Amsterdam / Brussels – CFI is pleased to announce it has acted as the exclusive corporate finance advisor to Use IT Group in its sale to Visma, a portfolio company of Hg Capital.
Founded in 1999, Use IT Group is a bootstrapped, founder-led success story in software and Belgian market leader in ready-to-go and integrated administrative software solutions for the SME in construction related sectors. The Company’s subscription-based software provides customers with a centralised all-in-one platform to manage all administrative processes in a time efficient manner. Use IT Group offers three related market-leading software solutions: Bouwsoft/BatiLogic for construction and installation companies, Groensoft/VertLogic for landscaping companies and Archisoft for architects.
With a presence across the entire Nordic region along with Benelux, Central and Eastern Europe, Visma is a leading Cloud business solutions company empowering close to 1.2 million customers running their daily business. Visma delivers software that simplifies and digitises core business processes in the private and public sector. Being consistently Visma’s largest investor over the past 13 years, Hg Capital expanded its shareholding in April 2019 to support its ambitious growth trajectory.
Digitisation within the construction segment is accelerating enormously. With Use IT Group joining Visma, the combination creates a head start in the market of construction professionals. Existing construction companies within Visma’s client base will be able to benefit from Use IT Group’s vertical market solutions, as much as Use IT Group can draw on the innovations and expertise that Visma has as a group.
Henk Cloetens, founder of Use IT Group: “Working together with CFI felt like teamwork from the start. CFI played a critical role in every step of the transaction process from deal preparation through closing and was instrumental in maximizing value and putting all pieces of the puzzle together. CFI’s leadership, creativity, diligence and first-call access to all relevant strategic buyers allowed us to accomplish a fantastic outcome.”
CFI acted as the corporate finance lead advisor in the discussions and negotiations that ultimately resulted in a successful transaction with Visma on 2 July 2021. This transaction illustrates CFI’s continued activity in the Software & IT Services sector and reinforces our long-standing track record of orchestrating (cross-border) exits in the Enterprise Software space, as recently demonstrated by the sale of Riaktr to Seamless Distribution Systems, the sales of Viskan System, Specter and Dotweb to Visma (Use IT Group marks the 4th transaction with Visma in the past 24 months), the sale of Kraan Bouwcomputing to Nedvest, the sale of Pylades to Waterland Private Equity Investments and the sale of DQC to Fellowmind (FSN Capital).
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