American PE firm acquires majority stake in South African-founded SYSPRO
American PE firm acquires majority stake in South African-founded SYSPRO
Advent International has entered into a definitive agreement to acquire a majority ownership stake in SYSPRO.
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American private equity firm Advent International has entered into a definitive agreement to acquire a majority ownership stake in SYSPRO, a global ERP software provider for the manufacturing and distribution industries.
South African-founded SYSPRO currently employs around 400 people globally and serves customers across six continents, with headquarters in the UK and South Africa.
Douglas Hallstrom, director at Advent International, said, “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.”
Phil Duff, co-founder of SYSPRO, said, “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. As the company enters a new era, I’m confident Advent can foster continued growth and innovation.”
The transaction is expected to close late Q3 pending customary regulatory approvals and closing conditions.
Torch Partners acted as exclusive financial adviser to SYSPRO in the context of this transaction.
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