The investment is made in partnership with the company’s management to further accelerate BRP Systems’ ambitious growth targets, including international expansion and value accretive add-on acquisitions.
Nordic Capital has entered into an agreement to acquire a majority stake in BRP Systems, a Nordic market leading ERP platform for the gym and fitness industry, from Valedo Partners III AB. In close partnership with the company’s management, Nordic Capital will aim to support BRP Systems’ continued growth through further development of the Company’s platform, as well as targeted European expansion.
BRP Systems offers ERP software for operators in the attractive and resilient fitness industry – primarily gym operators, studios, and bath facilities. Customers include blue chip fitness chains such as Nordic Wellness, STC, Friskis & Svettis, and Fitness24Seven, and various other private and public facilities seeking an efficient and secure solution to cover membership management, CRM, access control, payments, business intelligence, statistics, and solutions for personal trainers. The software enables operators to ensure the best possible overview and planning of operations to optimise resource utilisation, reduce costs and automate tasks. Moreover, the offering includes a customisable member facing app and web platform with extensive booking capabilities, self service functions, online training and integration to leading fitness trackers for a seamless end-customer experience.
Since its inception in 2004, BRP Systems’ organic growth strategy has been complemented by selected acquisitions, and today BRP serves 2,500 facilities with a focus on the Nordics. The company is on an impressive growth trajectory, growing revenues five times (of which the majority has been organic) during Valedo’s seven-year ownership to reach c. SEK 180 mn in 2023. During this period, BRP has also transitioned to a fully cloud based SaaS model, accelerated new product development, executed on a geographic growth strategy to become a Nordic market leader and completed five complementary acquisitions to strengthen BRP’s position in existing and new geographies. BRP Systems’ scalable platform is well positioned to continue growing on the back of strong underlying market trends, commercial excellence initiatives, European expansion and further value accretive acquisitions.
As a leading tech investor with more than 30 years’ experience of accelerating growth and international expansion, Nordic Capital is well positioned to support BRP Systems in its next phase, leveraging its expertise and extensive expert networks. BRP Systems is Nordic Capital Evolution’s ninth investment since 2021. With EUR 1.2 billion in committed capital, Evolution targets investments in medium-sized companies and is a natural extension of Nordic Capital’s strategy and focus of addressing compelling subsectors in Northern Europe.
“We’ve been very impressed by the strong BRP team and what they have achieved so far, the company’s flexible platform and their solid market position. We’re confident that Nordic Capital’s experience from supporting companies with similar international ambitions, our extensive industry networks, and deep knowledge from growing tech companies will be an enabler for the company’s next wave of growth,” said Joakim Lundvall, Partner, Nordic Capital Advisors.
“We’re excited to partner with Nordic Capital and to write our next chapter together. We have matching cultures and mindsets. Their active ownership and operational expertise will prove valuable for us on our continued growth trajectory, and we’re looking forward to expanding our offering further, both in existing and new markets. We have appreciated the close collaboration with Valedo and the board and would like to thank them for great support over the years,” said Thomas Säld, CEO of BRP Systems.
It has been agreed that the terms of the transaction shall not be disclosed. Completion of the transaction is expected in Q2 2024 and is subject to customary closing conditions.
Media contacts:
Nordic Capital
Katarina Janerud
Communications Manager, Nordic Capital Advisors
+46 8 440 50 50
katarina.janerud@nordiccapital.com
BRP Systems
Thomas Säld
CEO, BRP Systems
+46 72 441 7653
thomas.sald@brpsystems.se
About BRP Systems:
BRP Systems is a leading provider of gym and membership management system to the fitness industry in the Nordics. With 20 years of experience from the fitness sector BRP Systems serves more than 2500 training facilities mainly in Sweden, Denmark, Norway, Finland and Iceland. Customers cover operators of all sizes, from the newly started crossfit box to the largest fitness chains in the Nordics. www.brpsystems.com
About Nordic Capital:
Nordic Capital is a leading sector-specialist private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and Services & Industrial Tech. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested EUR 25 billion in 145 investments. The most recent entities are Nordic Capital XI with EUR 9.0 billion in committed capital and Nordic Capital Evolution with EUR 1.2 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland, Norway, and South Korea. For further information about Nordic Capital, please visit www.nordiccapital.com.
“Nordic Capital” refers to, depending on the context, any, or all, Nordic Capital branded entities, vehicles, structures and associated entities. The general partners and/or delegated portfolio managers of Nordic Capital’s entities and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors”
About Valedo:
Valedo is an independent Swedish investment company investing in high-quality small/mid cap companies in the Nordic region. Valedo is focusing on companies with clear growth and development potential where Valedo can actively contribute to and accelerate the companies’ development. Being an active owner and contributing both capital and industrial experience, Valedo ensures that a company can achieve its full potential.