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Establish and expand a partner network to strengthen the market access
€34.7mn
Equity investment
€11mn
Revenues 2020
82
Employees 2020

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

SOLVARES

Investment by
DBAG ECF II

€34.7MN

DBAG'S INTEREST

€14.3MN

MANAGEMENT BUYOUT

MAJORITY
INVESTMENT OF
DBAG ECF II

First invested

OCTOBER 2018

REVENUES in €mn

 

10

 

2018

 

11

 

2019

 

11

 

2020

As of 30 June 2021

~18

PER CENT

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

The company 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

Solvares (previously: 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. The company stands out due to the services it offers, which are customised to the needs of the customer groups mentioned. Clients rely on their 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 the company to drive its growth, take advantage of expertise, and strategically develop it 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
+49 69 95787-172

Ragnar Geerdts

Managing Director

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

Ragnar Geerdts has over nine years of experience in private equity. 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 and led the investment process in vitronet, netzkontor nord, von Poll Immobilien, BTV Multimedia, Solvares Group, DING Group and DGA. In these companies he sits on the advisory councils. Before joining Deutsche Beteiligungs AG Ragnar Geerdts worked in the area of M&A at Bayer AG and at Deutsche Post AG.

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

Current portfolio companies

netzkontor

Former portfolio companies

Ragnar Geerdts

Managing Director

+49 69 95787-172