Establish and expand a partner network to strengthen the market access
€22.9mn
Equity investment
€10mn
Revenues 2019 (exp.)
90
Employees 2019

KEY FACTS AT A GLANCE

  • Software for real-time schedule and route planning in service and logistics
  • Leveraging up-selling potential with existing customers and strengthening sales activities to win new clients
  • Opportunities provided by market growth and strategic development

FLS GMBH

Investment by
DBAG ECF II

€22.9MN

DBAG'S INTEREST

€9.5MN

MANAGEMENT BUYOUT
Shareholders:
DBAG ECF II

37.5%

EQUITY SHARE BELONGING TO DBAG

15.5%

other shareholders

62.5%

First invested

OCTOBER 2018

REVENUES in €mn

 

8

 

2017

 

10

 

2018

 

10

 

2019 (exp.)

As of 31 December 2019

~18

PER CENT

of sales represented by Software-as-a-Service business

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.

RAGNAR GEERDTS
Managing Director

PROFILE

FLS GmbH (FLS) develops and sells software that enables energy suppliers, industrial companies, financial service providers, retail and real estate companies to plan and optimise their schedule and route planning as well as their deployment of field service employees and delivery vehicles. Its products are based on a heuristic algorithm that uses real-time data, making it possible to find solutions for planning tasks while taking into account a large number of influential factors. This particularly meets the needs of companies that want to efficiently deploy a large number of employees at the same time in a rapidly changing environment. The company operates against a background of growing expectations in ordering and delivery processes and dynamic traffic conditions that are almost impossible to predict. The market for optimisation software in this kind of environment is expanding at rates that are well into double digits, substantially driven also by the growth in e-commerce. FLS stands out due to the services it offers, which are customised to the needs of the customer groups mentioned. Clients rely on FLS products, enabling them to benefit from the competitive advantages of maximum resource utilisation, cost savings and far superior service quality.

FLS was established in 1992; the headquarter is located in Heikendorf near Kiel (Schleswig-Holstein), another office is located in Cologne. With sales offices in the UK and the Netherlands, the company is driving forward its international expansion.

POTENTIAL FOR DEVELOPMENT

DBAG will enable FLS to drive its growth, take advantage of expertise, and strategically develop FLS further. The company wants to first establish and expand a partner network in Germany and then do the same in other countries in order to strengthen its market access and offer its solutions to an even broader customer base.

FINANCIAL YEAR 2019

In 2019, management successfully increased the share of the recurring Software-as-a-Service business. Total sales are expected to be rather flat in comparison to the previous year due to consulting revenues developing below expectations. Management lay the foundation for future growth by strengthening the sales activities as well as by implementing a partner distribution network.

OUTLOOK AND OBJECTIVES

The management aims to grow revenues and earnings in 2020 by leveraging the overall positive market environment, especially in the Software-as-a-Service segment. Further growth is anticipated by executing potential add-on acquisitions for sales synergies and geographical expansion.

Responsible team member

Ragnar Geerdts
Ragnar Geerdts

Managing Director

Ragnar Geerdts
Name:
Ragnar Geerdts
Telephone:
+49 69 95787-172
E-Mail:

Ragnar Geerdts

Managing Director

Ragnar Geerdts joined Deutsche Beteiligungs AG in 2012 and became a Managing Director in 2017.

Ragnar Geerdts has over 13 years of experience in private equity and mergers and acquisitions. He has extensive knowledge of the automotive supplier and telecommunications industries and in mechanical and plant engineering. He was involved in numerous investments and disinvestments, including DNS:NET, Frimo, Formel D, inexio, mageba, Oechsler and Unser Heimatbäcker. Ragnar Geerdts also led the investment process in vitronet, netzkontor nord, von Poll Immobilien, BTV Multimedia, FLS and DING Group and sits on the advisory councils of these companies. Before joining Deutsche Beteiligungs AG he worked in the area of M&A at Bayer AG and at Deutsche Post AG.

Ragnar Geerdts holds a degree in Business Administration from Freie Universität Berlin, and also studied at the Beijing Foreign Studies University.

Current portfolio companies

Former portfolio companies

Ragnar Geerdts

Managing Director

+49 69 95787-172
ragnar.geerdts(at)dbag.de