Progressus sells software company Safran to JDM Technologies
Stavanger — 4. October 2021 — Safran Holding AS today announces that the company and all its subsidiaries (“Safran”) has been sold to JDM Technology Group, a global provider of software for the construction industry and built environment.
Safran is a leading international risk, project, and portfolio management software company, headquartered in Stavanger, Norway. Its international sales team based in the UK is supported by a network of partners and resellers. As well as an HQ in Stavanger, Safran has offices in New York, London, and Oslo.
The majority shareholder in Safran is the Stavanger-based PE fund Progressus, which holds 75 % of Safran Holding AS. Other owners are Novcon AS ca. 15 %, with management and employees holding the remaining shareholding. Progressus invested in Safran in late 2012 and has since the investment supported the company and its strategy to widen its software portfolio, increase geographical footprint and diversify beyond the oil & gas sector – all of which has been successfully executed.
The consideration paid for Safran in the transaction is undisclosed, but in a comment Safran Chairman Per Arne Jensen, also Partner in Progressus, states that “The value is in line with international valuation of software companies and represents a good multiple on invested capital.”
In a statement on the transaction Safran CEO Richard Wood stated that “As Safran continues to grow and to launch more SaaS products, we recognize that JDM can bring the resources and experience needed to accelerate this trajectory. We are therefore delighted to have the opportunity to join JDM and become part of a global software group with such huge competence, experience and reach within our target markets”.
JDM Technology Group is a global group of leading software providers for the architecture, engineering, construction, maintenance and operations industries, announced today that it has acquired Stavanger, Norway based Safran Holding AS, a maker of risk, project, and portfolio management software for the construction industry and built environment. “We are very pleased to add Safran’s exceptional risk analysis and project management software to our portfolio,” said Jim McFarlane, CEO of the JDM Technology Group. “Our global buy and build strategy ensures that we will continue to grow Safran’s products, brand, and organization, and provide great service and support for its current and future customers. As a private, family business we focus on the long-term. This strategy continues to make the JDM Technology Group an excellent home for software companies.”