November 21nd 2023 – Apheon, a leading European investment firm, is pleased to announce that portfolio company Sofico, a global frontrunner in providing mission-critical software for the automotive finance, leasing, fleet and mobility industry, has signed an agreement for a new strategic partnership with Astorg. This partnership underscores Sofico's unwavering commitment to its clients and team, with Astorg actively supporting its long-term development strategy centered on sustainable growth, enduring stability, innovation leadership, and deep customer engagement. Apheon, in its current partnership with Sofico, was instrumental in supporting the choice for the right long-term partner to guide Sofico on its next stage of growth.
For over three decades, the world’s premier automotive and mobility services firms have relied on Sofico’s software solutions to adapt to the shifting mobility landscape. Since Sofico’s partnership with Apheon in 2020, Sofico’s team has managed to double the Company’s turnover, initiate a transition towards more subscription-based revenues, strengthen the leadership team and establish a presence in the US.
Apheon and Sofico view Astorg as more than just an incoming investor; it is a strategic partner that mirrors its culture, values, and mission, bringing deep software expertise to the table. This alliance aims not just to secure the company's future but also to foster the growth of its dedicated workforce.
All Sofico's longstanding shareholders — co-founders Gémar Hompes (CEO) and Piet Maes (CTO), the entire leadership team, as well as Apheon — remain fully (and financially) committed for this next phase alongside Astorg, in Sofico’s ongoing expansion and innovative pursuits. Together, they aim to turbocharge product development, enhance service offerings across regions, amplify business outreach, and tap into uncharted customer segments and markets.
Gémar Hompes, CEO of Sofico commented: “The interest shown by a renowned company like Astorg in Sofico is a testament to our drive for excellence, our adherence to strong company values and the pivotal role of our passionate people. Over the years, the trust and continued support of our customers have been integral to our success, and our dedication remains in providing them with superior products and services.”
Piet Maes, CTO and Co-Founder at Sofico said: “We thank Apheon for their support over the past few years and look forward to the next stage of our journey. This partnership isn’t a change in direction, but a boost in momentum. Now counting Astorg as another partner, we are gearing up for a future where we continue to lead, innovate, and set benchmarks in the automotive and mobility software sector.”
Pieter Lambrecht, Partner at Apheon commented: “It has been a privilege to support Gémar, Piet and Sofico’s outstanding team on their growth trajectory over the past years and welcoming a like-minded shareholder undoubtedly strengthens our collective ambition. Sofico's success has always revolved around a deep-rooted commitment to values, innovation, and most importantly, customers. Together with Sofico’s management team and Astorg, we aim to achieve new milestones and further Sofico's success.”
Lionel de Posson, Managing Partner, and Charles-Hubert Le Baron, Partner, of Astorg Mid-Cap, added: “We are very excited to partner with Sofico, its highly entrepreneurial leadership team, and Apheon. Ambition, innovation leadership for its customers, and a strong emphasis on nurturing talent and team engagement: these are pillars of Sofico’s culture that we also embrace fully at Astorg. As a global leader, Sofico fits perfectly with Astorg’s investment criteria, and we're eager to champion Sofico’s next evolutionary phase.”
Financial terms were not disclosed. The transaction is subject to customary regulatory approvals and is expected to close during the first quarter of 2024.
About Sofico:
Sofico is a world leading provider of mission-critical software for the automotive finance, leasing, fleet and mobility industry. The leading companies in these industries count on Sofico's expertise and technology. Sofico helps them to transform innovative product concepts into streamlined business processes and engaging customer journeys. Originating as a Belgian start-up with a clear vision and with 35 years of experience, Sofico now operates 14 offices on 4 continents, staffing over 500 experts. Continuous investment in people, innovation and leading-edge technology, form the basis for its continued growth and sustained success.
For more information, please visit: https://sofico.global/
About Apheon:
Apheon is a pan-European mid-market private equity investment company managing ~€2.7 billion of assets from select global institutional investors and families. Apheon is characterized by its partnership approach, providing “patient and friendly capital” and industrial know-how to entrepreneurs and management teams, preparing their companies for the future. Apheon partners with leading companies with a sustainable, competitive position in attractive niche sectors, that are headquartered in the Benelux, Italy, Spain, France and Germany, with a constant emphasis on developing their environmental, social and governance (“ESG”) journey during its investment period. Through its pan-European footprint, the firm acts as a gateway into Europe for companies in the mid-market. Apheon is advised by Apheon Advisors which has offices in Brussels, Milan, Madrid, Paris, Munich and Amsterdam.
For more information, please visit: https://www.apheon.com/
About Astorg:
Astorg is a European private equity firm with over €21 billion of assets under management. Astorg works with entrepreneurs and management teams to acquire market-leading, global companies mainly headquartered in Europe, providing them with the strategic guidance, governance, and capital they need to achieve their growth goals. Enjoying a distinct entrepreneurial culture, a long-term shareholder perspective and a lean decision-making body, Astorg has valuable industry expertise in healthcare, software and technology, business services and technology-based industrial companies. Astorg has offices in London, Paris, New York, Frankfurt, Milan, and Luxembourg.
For more information, about Astorg, please visit: www.astorg.com
+++
For more information, please contact:
Sofico
Stéphanie Poelman, Marketing and Communication, Sofico
T : +32 479 20 86 08
stephanie.poelman@sofico.be
Apheon
John Mansvelt, CFO, Apheon
T: +32 2 213 60 90
jm@apheon.com
Astorg
Samia Hadj, Head of Communications, Astorg
T: +33 7 88 34 43 99
shadj@astorg.com
Our manifesto: contributing to the development of sustainable finance
To succeed with this strategy, Apheon believes a holistic and collective approach is fundamental.
Holistic: it is essential that all aspects of ESG are equally and continuously supported. This is why we are active at every stage of the investment cycle by applying proprietarily developed methodologies and initiatives which are built on 5 priorities covering the broad ESG spectrum: