Stockholm-based Iptor, one of the leading providers of cloud-based ERP software, started 2022 with strong news by acquiring German TimberTec, a leading provider of ERP and MES software for the timber industry. After its acquisition of the US-based Mesa Group in 2021, Iptor’s acquisition of TimberTec represents the second key milestone in the company’s growth trajectory since the investment of funds advised by Bregal Unternehmerkapital (“BU”) through a buy-and-build strategy. The transaction closed in February 2022.
The acquisition represents both a significant geographical expansion, as well as a vertical extension given TimberTec’s proven sector expertise in sawmills, glued wood manufacturers, and timber distributors. Established in 1999 and based in Schleswig-Holstein, the company serves customers throughout Central Europe. With its main product, the modular “TiCom ERP”, Timbertec supports the entire process chain for logwood purchasing and processing, from production to commissioning and sales to warehousing and logistics.
Going forward, the company will be known as “TimberTec – an Iptor company” and will offer its solutions to a broader customer base in both Europe and the US. Both of the company’s founders, Andreas Boll and Frank Ridder, remain on board as Managing Directors. With the acquisition, Iptor will benefit from a strongly increased market penetration in the Timber industry and has now moved significantly closer to its goal of becoming a leading ERP provider for the timber industry in Scandinavia. The company plans further investment in product development in order to progress TimberTec’s product portfolio towards the cloud. Iptor already has in-house expertise with respect to cloud migration, as its own cloud-native solution went live on Iptor.com last summer.
We are delighted to support Iptor with its continued growth and to further expand TimberTec’s already impressive market presence.