ALMA Consulting Oy acquired by Vitec Software Group AB
Vitec Software Group AB (publ) is strengthening its Nordic position in Vertical Market Software on March 17 by acquiring all shares in the Finnish software company ALMA Consulting Oy. In fiscal year 2019, ALMA Consulting Oy reported sales of EUR 3.0 million, with an adjusted EBITDA of EUR 0.8 million. The company employs more than 20 persons.
ALMA Consulting develops and delivers information management software for the processing industry and energy companies in Finland. The products allow companies to streamline and plan their production supporting processes, such as maintenance, in an efficient and flexible way. The company currently has approximately 100 customers. ALMA knowledge management systems are licensed to about 7,000 users among 300 companies in 46 countries. It is a registered trademark in 13 countries and has been in the market since 1986.
“ALMA Consulting is a well-managed and profitable company that offers high quality products with a strong focus on customer benefit. The operation is a good fit with our business model and corporate culture. We acquire companies to retain them in the Group, which is why we are always careful with our acquisition criteria. Today we would like to warmly welcome some 20 new employees to the Group”, says Lars Stenlund, CEO of Vitec Software Group.
ALMA Consulting was founded in 1986 by Matti Nissilä and Kalervo Tervola. Juha Nissilä, the company’s current CEO, is the son of one of the founders. The company has operations in Kokkola, Raahe and Helsinki. ALMA Consulting has experienced significant growth during the recent years. This year, the company received the Growth Company and Achiever certificates for the second consecutive year. Following the transaction, the company will continue its operations under the name Vitec ALMA Oy.
“It feels great to have Vitec as the new owner of the company, and we are proud to be joining the group. Vitec’s extensive experience and broad expertise in niche software enable them to really understand our operations. Our customers also appreciate a long-term owner who is committed to developing the business. I look forward to continuing to grow with the company here in Finland together with our devoted personnel and Vitec”, says Juha Nissilä, CEO of Vitec ALMA Oy.
Payment will be in cash. The acquisition is expected to yield an immediate increase in earnings per share for Vitec. Consolidation will commence as of the acquisition date.
Carner Corporate Finance advised Vitec Software AB in this transaction.
Vitec Software Group AB
Vitec Software Group AB is market leader for Vertical Market Software in the Nordic region. The group employs approximately 750 persons in Denmark, Finland, Norway and Sweden, and achieved a turnover of SEK 1,156 million in 2018. Vitec is headquartered in Umeå and listed on Nasdaq Stockholm.