Björn Lundén, Swedish accounting and financial administration software provider, acquires Denmark-based EazyProject A/S (“EazyProject”). EazyProject is active within project management software. The acquisition was backed by leading European software investor Main Capital Partners.
The acquisition of Danish EazyProject represents Björn Lundén’s fourth add-on acquisition since Main Capital Partners became a majority investor in July 2021 and enables Björn Lundén to enter the Danish market, strengthening the group’s position in the Nordics even further as well as expanding the group’s product offering.
EazyProject offers an all-in-one cloud-based project management system well-suited for companies of all sizes across different verticals and with a strong focus on serving project-driven organizations. EazyProject’s solution provides value to end customers by simplifying project, resource and time management and by enabling companies to increase their efficiency by spending less time on administrative tasks, increasing accuracy by reducing manual errors and achieving higher control of resources.
Project management software market forecast to see double-digit growth rates
The market for project management software is predicted to grow with a CAGR of 13% in the coming ten years, driven by modern cloud-based solutions which can be accessed by employees from anywhere. Underlying factors driving the market growth include companies’ demand to automate and simplify administrative tasks to increase productivity, decrease project costs, simplify communication and increase project quality.
Creating a full suite of cloud-based accounting and ERP solutions
Wessel Ploegmakers, Partner and Head of the Nordics activities at Main, commented: “EazyProject represents Björn Lundén’s fourth acquisition within a year after the successful addition of KING Software to the group and a first step into the Danish market. We see many opportunities for the Björn Lundén group to continue its growth journey, comprising both inorganic and organic initiatives, further supported with the recent recruitment of group CCO Malin Svanberg, to become a European leader offering a full suite of cloud-based accounting and ERP solutions for both SMEs and accountancies.”
EazyProject’s project management solution is highly complementary to Björn Lundén’s current offering of accounting and ERP solutions. Ulf Svensson, CEO at Björn Lundén, says: “I am very happy to welcome a great software company such as EazyProject to the Björn Lundén group. This is our first strategic step into the Danish market and together with EazyProject we will work hard to become an important player in Denmark and to execute on our ambitious internationalization plans.”
EazyProject will continue to service its local customers with an increased value proposition
Kenneth Larsen, Chief Executive Officer at EazyProject, concluded: “I have spent more than 20 years making EazyProject the success it is today. Selling your own business after so many years has been a big decision and with a lot of considerations and emotions. It has been an exciting and educational process for me personally and I am now very much looking forward to the collaboration and the international expansion with Main Capital and Björn Lundén. “
Björn Lundén, founded in 1987, provides accounting and financial software solutions targeted at accountancy firms and SMEs throughout the Nordics and the Benelux market. From its offices across Sweden and the Netherlands, the company serves over 40.000 companies. The company has developed a comprehensive portfolio of solutions and tools for administration, finance, accounting, tax, legal, personnel administration, time, project & expense management and ERP and in addition offers knowledge tools, books and courses in the aforementioned areas. Björn Lundén has 200 employees.
EazyProject has since 2002 been a provider of customized web-based Business Intelligence software for the Danish market. In 2007 the company released the all-in-one project management software EazyProject. With a focus on always being ahead with development of niche-oriented software, EazyProject has today gained position as a fast growing supplier of all-in-one project management software, making project-, resource- and time management hassle-free and straightforward in any size company. EazyProject is headquartered in Roskilde in Denmark and employs 19 FTEs.
Main Capital Partners
Main Capital Partners is a leading software investor in the Benelux, DACH and the Nordics. Main has almost 20 years of experience in strengthening software companies and works closely together with management teams of its portfolio companies as a strategic partner, in order to realise sustainable growth and build excellent software groups. Main counts over 55 employees and has offices in The Hague, Stockholm, Düsseldorf and the USA (Boston). As of October 2021, Main has over EUR 2.2 billion of assets under management. Main has invested in more than 130 software companies to date. These companies have created jobs for approximately 8,000 employees.
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