Columbus acquires rental and lease management software company HiGH Software and HGH
Today, Columbus A/S entered into an agreement acquiring the Dutch company HiGH Software B.V., a market leader within rental and lease management solutions for equipment-driven industries.
The acquisition of HiGH Software is a strategic move that enables Columbus to drive further innovation and growth within the growing market for equipment rental and leasing across industries. Acquiring the software solutions from HiGH Software, DynaRent and DynaLease will augment the rich portfolio of Columbus' business applications for the manufacturing, food and services industries. At the same time the acquisition is in line with Columbus' mission to deliver solutions supporting companies in the digital transformation of their businesses. HiGH Software, which employs 55 highly skilled employees, develops and delivers end-to-end solutions for rental, leasing, transport and equipment-driven companies.
"We see our customers innovating and differentiating themselves by offering their equipment as services. With the acquisition of HiGH Software we will be able to offer our customers a comprehensive solution portfolio within leasing and rental management", says CEO & President in Columbus, Thomas Honoré.
With the acquisition, that includes HGH Business Consultancy B.V., Columbus strengthens its market leading position within the business application and creates an even stronger footprint in equipment-driven industries. Since it was founded in 2001, HiGH Software has shown significant results including their award-winning DynaRent solution which is one of the most innovative rental and lease management software solutions. For 2017, the total revenue and EBITDA for HiGH Software and HGH Business Consultancy are expected to amount to DKK 50m and DKK 8m, respectively.
"We are excited to be able to grow the business through Columbus in order to enable more customers in their digital transformation. We bring decades of experience of leasing of rental to further deliver on the Columbus promise to their customers." says Arthur de Leeuw, Managing Director of HiGH Software.
The agreed acquisition price is DKK 56m Enterprise Value +/- regulation of normalized working capital. The amount to be paid at closing of the agreement on 9 January 2018 is DKK 37.3m. The remaining amount of DKK 18.7m is dependent on the agreed earnings targets, and is expected to be paid over the next three years. The acquisition is financed by Columbus’ own available funds. In 2018, the acquisition is expected to contribute with a revenue in the level of DKK 51m and EBITDA in the level of DKK 8m. The acquisition is with effect as per 1 January 2018. Expectations to revenue and EBITDA for the Group in 2018 will be announced when the Annual Report is published on 15 March 2018.