Today it was announced that Nordic Capital has secured a majority stake in BRP Systems. The investment is said to be made in partnership with to "accelerate BRP Systems' ambitious growth targets, including international expansion and value-enhancing add-on acquisitions".
The seller is Valedo Partners III AB.
BRP Systems offers enterprise resource planning (ERP) software for operators in the fitness and wellness industry - mainly gym operators, studios and swimming facilities. Customers include leading fitness chains such as Nordic Wellness, STC, Friskis & Svettis and Fitness24Seven.
Since its inception in 2004, BRP Systems' organic growth strategy has been complemented by selected acquisitions, and today BRP serves 2,500 sites with a focus on the Nordic region. The company is on a strong growth trajectory, having increased its revenues fivefold (the majority of which is organic) during Valedo's seven-year ownership to reach a turnover of approximately SEK 180 million by 2023.
During this period, BRP has also transitioned to a fully cloud-based SaaS model, accelerated new product development, executed a geographic growth strategy to become a Nordic market leader and completed five complementary acquisitions to strengthen BRP's position in existing and new geographic markets. BRP Systems' scalable platform is said to be well positioned to continue to grow with strong underlying market trends, commercial excellence initiatives, European expansion and further value-enhancing acquisitions.
"We have been very impressed with the strong BRP team and what they have achieved so far, the company's flexible platform and their solid market position. We are confident that Nordic Capital's experience in supporting companies with similar international ambitions, our extensive industry networks and deep knowledge from growing technology companies will be an enabler for the company's next wave of growth", says Joakim Lundvall, Partner, Nordic Capital Advisors.
"We are excited to partner with Nordic Capital and to write our next chapter together. We have matching cultures and mindsets. Their active ownership and operational expertise will be valuable to us on our continued growth trajectory, and we look forward to expanding our offering further, both in existing and new markets. We have appreciated the close cooperation with Valedo and the Board of Directors and would like to thank them for their great support over the years", comments Thomas Säld, CEO of BRP Systems.
The closing of the transaction is expected in Q2 2024.
Listen to Thomas Säld in Sweaty Business Podcast #139
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