Advent International acquires majority stake in SYSPRO to enhance innovation and growth
World-leading private equity firm Advent International has acquired a majority stake in global ERP software provider SYSPRO.
As one of the largest and most experienced private equity firms in the world, Advent International has spent over 34 years investing in ERP, financial, and manufacturing software companies – totalling over $21 billion in investments.
The acquisition marks a new era of accelerated growth, expansion, and improved customer value at SYSPRO, said the firm.
“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 Douglas Hallstrom, Director at Advent International.
“It is unique to find an established business like SYSPRO with such meaningful potential for further growth,” added Christian Braunfisch, Assistant Director at Advent International.
“We are excited to bring Advent’s expertise in enterprise application software to support the SYSPRO team in building a long-term global category leader.”
The future at SYSPRO
As part of the acquisition, SYSPRO co-founder Phil Duff will retire from his Executive Chairman role at the end of September 2024.
Duff has been at the helm of SYSPRO since he started the company, and under his guidance it has grown into a global ERP leader.
“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,” said Duff.
“As the company enters a new era, I’m confident Advent can foster continued growth and innovation.”
Experienced software business leader Mike Ettling will become the Chairman of the SYSPRO board, while current CEO Jaco Maritz will continue to lead SYSPRO.
“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,” said Maritz.
“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.”
About SYSPRO
Founded in 1978, SYSPRO is a leading global ERP software provider for the manufacturing and distribution industries that employs over 400 people and boasts customers across six continents.
It is a global leader within its key market verticals and offers a bespoke software suite that caters to customers’ most complex use cases – allowing them to manage and run their businesses efficiently.
The acquisition by Advent International offers extensive benefits to new and existing SYSPRO clients, enabling the company to continue providing its customers with cutting-edge products and innovative services.
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