Press release -
MaintMaster accelerates expansion by partnering with Monterro
Leading Nordic growth investor, Monterro, has acquired a majority share of the Swedish SaaS company, MaintMaster Systems AB. MaintMaster has built an innovative, cloud-based maintenance management system, and the aquisition will enable the SaaS company to accelerate its growth across Europe.
”MaintMaster has huge potential and an exciting journey ahead,” says Peter Larsson, Managing Partner at Monterro. ”It has great customer experience, profitable growth, and a user-friendly product that manufacturing companies have a real need for.”
For many years, MaintMaster has been Sweden’s leading supplier of maintenance management systems for the manufacturing industry. Its cloud-based, easy-to-use system helps manufacturing companies to digitalise and improve efficiency, while also reducing downtime, increasing machinery lifetime, and enabling greater control over maintenance.
”At Monterro, our mission is to help Nordic software companies become market leaders in their niche—and that’s why MaintMaster is a perfect match for us,” explains Larsson. ”With its industry experience, and our capital and expertise in software strategy and operational support, we can accelerate the company’s international expansion and product development.”
”Partnering with Monterro has come at the perfect time,” says Peter Barkland, founder and CEO of MaintMaster. ”We’re establishing ourselves on the German market, and now it’s time to scale up even faster—and Monterro gives us both the knowledge and the capital to do so.”
But it’s not just market growth and global expansion that Monterro and MaintMaster will work together on. ”The emergence of Industry 4.0 is a really exciting time. And with Monterro involved, we can push our innovations even further, using connected sensors, machine learning, and augmented reality,” Barkland says.
Since 2012, Monterro has helped many Swedish software businesses grow and expand abroad, including companies like Lime and Itello.
“We’re different to most firms,” explains Larsson. “While many traditional investment companies only invest capital, we know this isn’t always enough. The companies we partner with want the strategic and operational experience to help them grow, especially internationally. So we offer both capital and experience, knowledge and expertise.”
”MaintMaster has had a fantastic start to its international expansion,” says Hans Åberg, investor and Chairman of the Board at MaintMaster. ”With Monterro’s unique experience in developing software companies, it’s going to be an exciting journey, and I’m looking forward to us working together.”
About MaintMaster
We believe people create value. If an individual is inspired and in control of their job—they can do anything. We know maintenance is the foundation of sustainable, safe, and effective production, and we’re committed to helping improve it. And ultimately, we want to contribute to a better and safe workplace, and a more efficient and profitable industry.
About Monterro
Monterro is the leading B2B software investor in the Nordics, with a mission to turn Nordic software companies into market leaders. With operational experience from successfully developing and running companies such as Pointsec, Episerver, and Orc Software, Monterro actively supports its portfolio companies in all aspects of growth. A substantial part of the fund’s capital, 30%, comes from Monterro’s founders and employees. Since it was founded in 2012, Monterro has completed 14 investments and 15 add-on investments. Monterro.com
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Monterro is the leading B2B software investor in the Nordics, with a mission to turn Nordic software companies into market leaders and global players within their niches. Our team has successfully developed and led companies such as Pointsec, Episerver and Orc Software – and we bring this operational experience to the Monterro portfolio, supporting the companies in all aspects of growth. We also bring significant financial commitment to our partnerships, with 30% of capital coming from our partners and employees.
