123 Insight, the UK SME and mid-market manufacturing MRP/ERP solutions provider has been sold to the highly acquisitive European based, Forterro.
The purchase by Forterro is its ninth European acquisition in 10 years but its first in the UK.
Dean Forbes, CEO of Forterro said: “We are thrilled to bring 123 Insight’s modern product and go-to-market approach into the Forterro group.”
Co-founders of 123 Insight, Guy Amoroso and Craig Grant, will support the existing business for the short term and Guy said, “Having built this business over many years, it feels appropriate to hand over the company in such a strong position to a group that can take it to the next level.”
Dean concluded: “With this acquisition, Forterro gains a modern, event-driven local or cloud-based ERP/MRP solution. The potential here is extremely exciting, and our investment is a validation of product strategy the 123 Insight team has chosen, as well as the great work they have done executing on it.”
This acquisition comes as Forterro expands their threshold in Europe. With the appointment of Dean Forbes and Paul Smolinski, the company have a stronger UK base to add to their already strong European roster which includes Abas Software (Germany); BPSC (Poland); Clip Industrie, Silog and Sylob (France) and more.
This follows a spate of consolidations across Europe. Barcelona-based ERP & accounting platform, Holded, was recently acquired by the Oslo-based Visma Group earlier in June. Whilst at beginning of July, Georgia based ERP provider, Aptean, purchased Ramsauer & Stürmer, an Austrian based ERP firm. This follows their 2020 acquisition of Paragon Software Systems, a British based management software solutions company.
And consolidations within the ERP market are being seen outside Europe also. In North America, Akiton Associates announced it had acquired Central Consulting Group at the end of June, expanding their reach into the AEC markets in North America.