Bencis has sold Olyslager to Vitec Software Group

Olyslager

Olyslager is the leading provider of mission-critical data and software solutions for lubricant and fluid suppliers. Olyslager’s solution is an integral part of its customers’ daily workflow and operates as a matching tool to find the required lubricant or fluid type for the specific vehicle or machinery. An extensive database is used to generate recommendations for optimized functionality of the vehicle or machinery, based on vehicle, machinery or license plate data. Olyslager is headquartered in the Netherlands and serves a worldwide customer base, leading the market in Europe and holding a prominent position in the U.S.

The Deal

Under the ownership of Bencis, Olyslager went through a successful transformation – the company’s core database was completely rebuilt in the cloud, the product offering expanded and the company built a leading position in the U.S. To support the next phase of Olyslager’s story, the shareholders and management decided to attract a new partner. Lincoln International was appointed as exclusive advisor and ran a targeted auction process, during which Vitec Software Group emerged as the ideal partner.

Our Perspective

Eric Wijs, Lincoln International Managing Director who led the transaction, commented, “The combination with Vitec is truly a best-of-both-worlds outcome. With Vitec, Olyslager has found an international partner with deep software expertise, whilst maintaining a high degree of strategic independence. With Vitec as its new partner, Olyslager is ready to further expand its global leadership in the lubricant and fluid data analytics space.”

Vitec Software Group

Vitec is a stock-listed vertical software provider that has its origin and headquarters in Umeå, Sweden. Vitec develops and delivers standardized software for various niches, such as pharmacies, banks, car workshops, real estate, healthcare and education. Vitec employs more than 1,500 people and generated ~€245m revenue (of which ~85% recurring) in 2023. They grow primarily through acquisitions, and the deal with Olyslager fits well with their business model and growth strategy.

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