Forterro expands European footprint with OrderWise buyout
Forterro, a leading provider of software solutions to more than 10,000 small and midsized industrial companies, has acquired Wise Software (OrderWise), a provider of ERP software solutions with retail, wholesale, ecommerce, and distribution requirements.
The acquisition, for an undisclosed sum, marks Forterro’s second in the UK, following its buyout of 123insight a year ago. It is also Forterro’s first acquisition under new owners Partners Group – a leading global private markets firm. That acquisition by Partners Group on 1 March 2022 valued Forterro at one billion euros (US$1.02 billion).
“We warmly welcome OrderWise, its people and customers,” said Dean Forbes, CEO of Forterro.
“OrderWise and its products are a perfect fit with the Forterro vision and cements our position as the leading provider of software solutions for the industrial SMEs of Europe.”
Richard Furby, president of Forterro Northern Europe and group M&A, agreed. “Forterro’s portfolio of solutions for the midmarket manufacturing sector comprises a diverse range of local and vertical industry solutions. OrderWise has a core strength in the UK warehousing and distribution spaces, which when added to our acquisition last year of DACH-focused myfactory, means we now serve the needs of over 5,000 European customers in these two niches alone.”
Acquisitions 'vital component' in Forterro growth strategy
David Hallam, founder of OrderWise, will transition out of the business, with the leadership team working alongside Forterro to deliver the next phase of growth. “This is a bittersweet moment for me,” said Hallam, who coded the first version of the OrderWise system just a few years after completing college.
“It will be one of my life’s greatest achievements to have built a business that has been able to help so many UK companies grow and thrive.”
Speaking exclusively to Business Chief, Forbes added: “Acquisitions are a vital component in our growth strategy. OrderWise is a great match with our business, employing talented people, having a strong and complementary product set and loyal customer base we can invest in and grow.
“OrderWise revenues are growing at around 20% pa. currently and it’s our intention to take OrderWise further, into a new phase of growth. To stimulate that growth, we’ll bring access to the talent, strategic skillsets, resources and governance possibilities offered by the full Forterro organisation.”
Founded in 2012, Forterro employs more than 1,200 people in 40 offices around the world, providing specialised software solutions to more than 10,000 small and midsize manufacturers.
Read the upcoming September issue of Business Chief for an exclusive, inspiring interview with Dean Forbes, CEO of Forterro.
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