German private equity firm DBAG is backing the management buyout of logistics software company FLS with the acquisition of a majority stake in the business.
FLS was established 25 years ago and provides software which enables customers such as energy suppliers, industrial companies and retailers to plan and optimise their schedule and route planning for deploying employees and delivery vehicles.
It currently employs around 70 people in Germany and has sales offices in the UK and the Netherlands. Annual sales have increased by more than 15% in the past few years and reached more than €8 million (£7.2 million) in 2017.
The company's founder Thomas Brechtel will continue to manage FLS along with his existing management team.
Torsten Grede, DBAG Spokesperson, said: “FLS uses a cloud-based Saas solution and is a leader in its market niche – we are investing in a software provider with significant growth potential, and in a market that is less cyclical.”
Thomas Brechtel, Founder of FLS, added: “I am certain that DBAG will enable us to drive our growth, take advantage of expertise, and strategically develop FLS further. For example, we want to first establish and expand a partner network in Germany and then do the same in other countries in order to strengthen our market access and offer our solutions to an even broader customer base.”