RISK ASSESSMENT AND PROJECT MANAGEMENT SOFTWARE MAKER SAFRAN ACQUIRED BY JDM TECHNOLOGY GROUP
(Stavanger, Norway) JDM Technology Group, a global group of leading software providers for the architecture, engineering, construction, maintenance and operations industries, announced today that it has acquired Stavanger, Norway based Safran Holding AS, a maker of risk, project, and portfolio management software for the construction industry and built environment.
Safran’s world class software enables businesses to precisely plan and execute complex projects across industries including oil and gas, engineering and construction, aerospace and defence, utilities, and the public sector. Safran has offices in New York, London, and Oslo, with an international sales team based in the UK, and a network of partners and resellers.
Majority shareholder Progressus, a PE fund, which invested in Safran in 2012, supported the company and its strategy to widen its software portfolio, increase geographical footprint, and diversify into industries beyond the oil and gas sector.
In a statement on the transaction Safran CEO Richard Wood said, “As Safran continues to grow and to launch more SaaS products, we recognize that JDM Technology Group can bring the resources and experience needed to accelerate this trajectory. We are therefore delighted to have the opportunity to join JDM and become part of a global software group with such huge competence, experience and reach within our target markets.” Wood will continue in his role as CEO following the acquisition.
Safran will join a growing group of industry leading software makers within the JDM Technology Group. Known for its customer focus and commitment to creating exceptional software for the built environment and having acquired numerous companies since 2004, the JDM Technology Group has a proven strategy for integrating acquired companies into its existing infrastructure.
“We are very pleased to add Safran’s exceptional risk analysis and project management software to our portfolio,” said Jim McFarlane, CEO of the JDM Technology Group. “Our global buy and build strategy ensures that we will continue to grow Safran’s products, brand, and organization, and provide great service and support for its current and future customers. As a private, family business we focus on the long-term. This strategy continues to make the JDM Technology Group an excellent home for software companies.”
The consideration paid for Safran in the transaction is undisclosed, but in a comment Safran Chairman Per Arne Jensen, also Partner in Progressus, states that: “The value is in line with international valuation of software companies and represents a good multiple on invested capital.”
Silverpeak LLP, the London-based SaaS and enterprise software specialist advisor, acted as exclusive financial advisor to Safran and its shareholders in this transaction.
Safran is a leading international risk, project, and portfolio management software company, headquartered in Stavanger, Norway. An international sales team based in the UK is supported by a network of international partners and resellers. Safran has additional offices in New York, London, and Oslo.
Safran has a client portfolio of Fortune 500 Global customers, many from the Engineering & Construction, Energy, and Infrastructure & Transportation sectors, and new customers have been signed up globally both directly and through international partners and resellers.
Since 1997, Safran has worked closely with its customers to understand the complex requirements of planning and project controls software. Risk management has been a key part of Safran’s value add and is a strong differentiator, and a new product was launched in early 2021 to further extend the range of the Risk portfolio.
About JDM Technology Group
JDM Technology Group is a global software business focused on delivering business software systems for the architecture, engineering, construction, and operations industries with over 150,000 users served in 40 countries on 7 continents, employing over 550 staff. The JDM Technology Group’s core philosophy is a long-term commitment to customer support and service coupled with providing the best possible solutions to customers. JDM Technology Group companies include CSSP, CostCon, LEVESYS, Nimbus, Plusfactor, and Spearhead Software in Australia and New Zealand; Computer Guidance Corporation, ConEst Software, Explorer Software, EPAC, IndustrySmarts, JOBPOWER, Maestro Technologies, MicroMain Corporation, MPulse Software, TeamWORKS, and Vision InfoSoft in North America; and Estimate, Integrity, RedSkyIT, and Rendra in the UK, Europe and the Middle East.
Progressus is a private equity investor providing capital and competence to growth companies in the technology sector. Progressus currently manages two private equity funds with a committed capital base of NOK 550 million. Safran is part of the Progressus II fund which now will be dissolved. After this transaction, Progressus now manages one portfolio company, add energy group.
Progressus acquires controlling positions in businesses, and works closely with management teams to assist in expanding the businesses and driving growth plans. Progressus believes great companies are developed through excellent leadership and strong management teams. We stimulate management to inspire enthusiasm among customers, employees and business partners – to create a winning culture throughout the organization.
The management team of Progressus joined forces with EV Private Equity in 2015.