Asolvi boosts commitment to DACH market with TIVAPP acquisition
Trondheim, Norway — 18th November 2020: Asolvi, Europe’s leading provider of field service and contract management software, today announced that it has agreed to acquire TIVAPP, the leading German field service solution for the fire protection and security sector.
TIVAPP is a specialist service, inventory, test documentation and billing software solution, developed by fire prevention professionals. Founded in Germany, the company has over 20 years of experience in the sector. During that time, TIVAPP has built up a market-leading customer base and established itself as the region’s premier provider of complete solutions for fire protection specialists.
The deal will see the TIVAPP team of Fire and Security experts joining Asolvi. This team, in combination with TIVAPP’s market-leading software, will strengthen Asolvi’s position across the DACH market and enhance its native-language customer support. It will also expand existing sales functions across the region, positioning Asolvi for further sustainable growth.
The acquisition demonstrates the strategic importance of the DACH region to Asolvi, as well as the strong growth potential Asolvi sees for the German Fire and Security sector. This is the sixth acquisition since 2016 and forms part of Asolvi’s broader strategy to expand organically, and where appropriate, through acquisitions across Benelux, DACH, the Nordics and the UK.
Commenting on the transaction, Pål M. Rødseth, CEO of Asolvi, said: “We are thrilled to welcome TIVAPP into the Asolvi family. We are already the leading provider of Alarm, Fire and Security service management solutions in the UK and Sweden, TIVAPP fits perfectly into our core strategy of expanding our German and Central European offering. TIVAPP’s native-language expertise and experience will be of central importance as we aggressively pursue opportunities across the region, which will consequently allow Asolvi to add size to developments and meet even further demands of customers in the very near future. TIVAPP’s acquisition represents a superb opportunity for the company’s existing management and to our staff, and we look forward to working closely alongside them as we pursue our common aims and objectives and advance into the future.”
Harry Liedtke, CEO of TIVAPP, added: “Joining with Asolvi makes huge sense for us. Combining our expertise will allow us to build market share and add resources at a much faster pace. It’s with great excitement that we enter this new phase, joining one of Europe’s leading field service management software companies. I am thrilled to be continuing TIVAPP’s journey under the Asolvi umbrella and seeing the benefits this will bring to our organisation and our employees.”
Yuri Mikhalev of Volpi Capital adds: “This is an excellent deal for Asolvi, and the natural next step in their ambitious buy-and-build strategy. We welcome Harry Liedtke and his team to the business, as partnering with TIVAPP will provide a great platform in Germany for Asolvi to capture significant market opportunities in the wider DACH region, in a very attractive vertical.
Financial terms of the deal were not disclosed, Mayer Brown and Deloitte acted as advisors to Asolvi.
About Asolvi
With decades of combined experience developing solutions for a variety of field service sectors, Asolvi’s products support thousands of engineers, millions of contracts, and tens of millions of service tasks. Its mission is to continue creating, deploying and refining new functionality and solutions for the largely under-served SME market, through close customer relations and strategic partnerships.
Asolvi is a leading provider of service management software for small and medium-sized enterprises (SMEs) in the field service industry in Europe, employing more than 100 staff in ten offices across the continent. The company was founded in 1991 in Trondheim, Norway, and has grown organically and through recent acquisitions to reach 1,600+ customers in 35+ countries. It is headquartered in Trondheim, Norway, and is a private company owned by Volpi Capital, Viking Venture and the Management. More information about Asolvi’s services can be found at: https://asolvi.com.
About Volpi Capital
Volpi Capital is a specialist European lower mid-market private equity firm. Volpi has a thesis-driven approach targeting ambitious businesses using enabling technologies to disrupt traditional B2B value chains. Volpi typically invests €25-75 million of equity in businesses with enterprise values between €50 million and €200 million and seeks to drive trans-formative growth through international expansion and consolidation. The firm, which was founded in 2016 by Crevan O’Grady and Marco Sodi, closed its first fund (Volpi Capital Fund I) in April 2018 with commitments of €185 million.
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