MaintMaster blog - 29 October 2020

Monterro – our new partner for expansion and growth

Monterro – our new partner for expansion and growth

Leading Nordic growth investor, Monterro, has acquired a majority share of MaintMaster Systems AB. The partnership will help us to accelerate our technological development as well as growth across Europe.

MaintMaster  is  the leading supplier of maintenance management systems in Sweden since many years. Our cloud-based, easy-to-use system helps manufacturing companies to digitalize and improve efficiency, while also reducing downtime, increasing machinery lifetime, and enabling greater control over maintenance.

As of October 23, Monterro is the new majority shareholder of MaintMaster Systems AB. Founder and CEO, Peter Barkland, as well as most of staff and former investors stay on running the business in the same spirit as before.  Our customers will benefit from the partnership as the development of new features and the integration of new technologies can be accelerated.

”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.”

”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.”

Since 2012, Monterro has helped Swedish software businesses to grow and expand abroad, including companies like Lime and Itello.

”For us, 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—and Monterro gives us both the knowledge and the capital to do so.”

But it’s not just market growth and global expansion that we 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.

“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 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.