Bencis has sold Vecos to Ardian

Vecos

Vecos is the global frontrunner in premium smart locker solutions for the hybrid workplace. The company’s end-to-end solution consists of hardware (proprietary developed electronic smart locks and operating terminals), software (multi-year SaaS subscription, Azure stack), and installation services (third parties). Vecos’ smart lockers are a key enabler of dynamic working, allowing employers to reduce floor space usage and time spent on facility management, resulting in significant cost and CO2 emissions savings for customers. Vecos’ solution seamlessly integrates into the customers’ IT workplace ecosystem across office locations around the world. The company serves an impressive roster of customers, with a focus on blue-chip global corporates where Vecos can successfully roll out its solution to their offices around the world. Vecos is active in more than 45 countries across six continents, leveraging three strategically located offices and 195 sales partners globally.

The Deal

Under the ownership of Bencis, Vecos has successfully accelerated international growth, developing into the global leader in premium smart locker solutions for the workplace. To best support Vecos’ continued global expansion, the shareholders and management decided to attract a new growth-oriented partner. Lincoln International was appointed as the exclusive financial advisor and led a high-paced competitive auction process, during which Ardian emerged as the best partner due to their strong international network, pre-existing experience in the industry through previous portfolio investment, expertise in scaling businesses globally, and shared values and vision.

Our Perspective

Martijn Koops, Lincoln International Managing Director who led the transaction, commented, “In today’s volatile M&A market, premium quality businesses like Vecos still get exceptional interest, allowing us to drive a highly competitive process and unlock yet another outlier return for our longstanding client Bencis. Vecos is a true pioneer in the space, hyper-focused on enabling the modern workplace.”

Ardian Expansion

Ardian Expansion is a pan-European private equity fund with 35 investment professionals spread across offices in France, Germany, and Italy, managing or advising $6 billion of assets. It has achieved 75 investments in past and current portfolio companies in its 20 years’ experience partnering with talented entrepreneurs running mid-sized companies. Ardian takes a mid- to long-term perspective and builds partnerships that create sustainable value for all stakeholders. Ardian Expansion is part of Ardian, a world-leading private investment house.

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