FORUM, through its industry holding company FORUM Software Mittelstandsholding SE, has acquired 100% of Gedat GmbH.
Transaction Announcement
FORUM Family Office acquires 100% of the GEDAT Software Group
FORUM Family Office (“FORUM”) has acquired 100% of the shares in GEDAT Gesellschaft für Datentechnik GmbH and its sister company GEDAT Project GmbH & Co KG (together “GEDAT”), based in Cölbe/Marburg, through its industry holding company FORUM Software Mittelstandsholding SE. In 2020, GEDAT generated sales of € 5.4 million with approximately 44 employees.
As with every FORUM acquisition, the revenue mix is strongly characterized by recurring revenues. In 2020, GEDAT's revenue mix was:
- License 22%
- SaaS and rental 2%
- Maintenance 48%
- Project 28%
- Total 100%
GEDAT's core product is TIME JOB®, an ERP system for personnel service providers/temporary employment agencies. With a market share of approx. 11%, GEDAT is the number two on the German market after the market leader Landwehr and is represented above average among the top 25 personnel service providers („Lüdendonk 25“). The sister company GEDAT Project GmbH & Co. KG offers DEMSY, an exclusive administration software for distance learning schools.
The continuation concept of FORUM envisages a continuation of the company strategy in all essential points, especially the preservation of personnel and location. In the future, the focus will be on promoting marketing and sales in order to play a proactive role in the expected switch from customer-specific solutions to standard software. Product development will focus on new, complementary services and cloud solutions. This ensures that GEDAT remains a future-proof and innovative partner for its customers.
The founders Thomas and Martin Jähn already appointed Peter Löber and Matthias Zimmermann as managing directors some years ago, who already manage GEDAT largely independently. Mr. Martin Jähn will continue to be available as a member of the advisory board to ensure continuity. Below them, there is a strong second management level. Commentary of the Jähn brothers:
„With the transfer of our company to FORUM Family Office, we are taking a step that secures the continuity and reliability of the GEDAT Group, as our proven corporate philosophy will be continued by FORUM. At the same time, FORUM is setting the course for healthy growth and technologically innovative progress.“
FORUM Family Office is a long-term investor in medium-sized companies. The core business is "subscription businesses" with recurring revenues. Software, with a turnover of approx. € 40 million and 350 employees, is a key sector for FORUM and is to be further expanded. GEDAT is the sixth investment in the software sector. As long-term owners, we contribute our expertise primarily in the areas of corporate development, sales and personnel development. We are looking for majority shareholdings with € 2 million - € 50 million in sales.
