The leading global enterprise resource planning (ERP) firm Syspro, founded by South Africans, has sold a majority share after 46 years as a private company.
Advent International, one of the world’s largest and most experienced private equity investors, this week announced it would invest and acquire a majority ownership stake in Syspro. Founded in 1978, it employs around 400 people globally and serves customers across six continents, with headquarters in the UK and South Africa. Its ERP software is provided mainly to the manufacturing and distribution industries.
“We have been following Syspro for some time and are delighted to support the company into a new phase of ambitious innovation and growth acceleration,” said Advent director Douglas Hallstrom.
Christian Braunfisch, Assistant Director at Advent International, said: “It is unique to find an established business like Syspro with such meaningful potential for further growth. We are excited to bring Advent’s expertise in enterprise application software to support he Syspro team in building a long-term global category leader.”
Syspro has established itself as a global leader within its key market verticals, with a purpose-built software suite catering to the most complex customer needs. This transaction will accelerate its global growth ambitions, through additional investment to support next generation product and technology innovation.
Advent is an experienced software investor with investments in ERP, financial and manufacturing software. Recent investments in the sector include Aareon, a European provider of Software-as-a-Service (SaaS) solutions for the property industry; Unit4, a global cloud ERP software vendor; Medius, a global leader in AP automation, B2B payments, sourcing and procurement software; and Prometheus Group, a global provider of enterprise asset management software. In addition to a 34 year track record in technology investing, Advent brings a depth of experience in the manufacturing and industrial space, having invested $21-billion within the sector globally in the last 33 years.
As part of the transaction, Mike Ettling, an experienced software business leader who was previously president of SAP SuccessFactors and is presently CEO of Unit4, will join Syspro as chairman of the board.
Phil Duff, co-founder of Syspro, said: “I have been at the helm of Syspro for 46 years and have worked with incredible teams of people, customers, and partners across the globe. As the company enters a new era, I’m confident Advent can foster continued growth and innovation.”
Jaco Maritz, who was appointed CEO of Syspro in 2022 and will continue to lead the company, said: “This partnership not only validates our strategic realignment but also provides us with the resources and expertise to further strengthen our position in the global market. We are excited about the opportunities this collaboration will bring and remain committed to delivering exceptional manufacturing and distribution software solutions to our customers worldwide.”
Phil Duff will retire from the company at the end of September 2024. He has been the visionary at the helm of Syspro since he started the business 46 years ago.