Advent seals Syspro deal with Compcom approval
Syspro currently employs around 400 people globally and serves customers across six continents, with headquarters in the UK and South Africa.
This transaction will accelerate the company’s global growth ambitions through additional investment to support product and technology innovation.
The focus will be on unlocking growth opportunities in key markets, including the USA and the UK.
Advent’s recent investments in ERP include Aareon, Unit4, Medius, and Prometheus Group means the firm brings a depth of experience in the manufacturing and industrial space, having invested $21bn within the sector globally in the last 33 years.
New leadership
As part of the transaction, Mike Ettling, an experienced software business leader who was previously president of SAP SuccessFactors and is presently the CEO of Unit4, will replace Duff as board chairman.
While Jaco Maritz, who was appointed CEO of Syspro in 2022, will continue to lead the company.
“We are delighted to support Syspro as it enters a new phase of ambitious growth and innovation,” Douglas Hallstrom, director at Advent International, said in a statement when the deal was announced in August.
Full backing
Christian Braunfisch, assistant director at Advent, echoed this sentiment, highlighting the company’s potential for further growth.
“It is rare to find an established business like Syspro with such meaningful potential for expansion. We are excited to bring Advent’s expertise to support Jaco Maritz and the team.”
Maritz welcomed the partnership, saying that “this collaboration provides us with the resources and expertise to further strengthen our position in the global market and continue delivering exceptional software solutions to our customers.”
