PSG-Backed Imaweb Acquires Procar, Establishes Presence in DACH Region
Latest acquisition consolidates Imaweb’s position as a leading pan-European digital software solutions provider to the automotive industry
MADRID & LYON, France – Imaweb, a leading independent developer and provider of automotive and dealership digital software solutions in Europe, today announced the acquisition of Procar, a leading automotive digital software solutions provider in the DACH market.
Founded in 1998, Procar is one of the leading automotive digital software solutions providers in Germany, with around 1,000 clients. It provides solutions to dealers across globally renowned automotive brands including Toyota, BMW, Volkswagen, Audi, Ford and Renault.
Imaweb provides dealerships and original equipment manufacturers (OEMs) with a full suite of digital software solutions, helping them digitalise the entire customer journey. Imaweb, which is backed by funds advised by PSG, a leading growth equity firm partnering with lower middle-market software and technology-enabled service companies, has market-leading positions across customer relationship management (CRM), dealership management and aftersales software.
The acquisition of Procar will provide Imaweb with a significant presence in DACH, the largest automotive market in Europe. The acquisition also serves as a platform for future consolidation in the highly fragmented dealer software vendor landscape. Following the transaction, Procar’s co-founders Volker Holthaus and Karl-Heinz Schlapp will continue to manage the business under Imaweb’s ownership.
“We are delighted to welcome the Procar team to Imaweb in what we believe is a transformational acquisition for our business,” said Patrick Prajs, CEO, and Julian Ciccale, Co-Founder and Deputy CEO, at Imaweb. “Procar’s position as a market-leader in DACH, combined with the strength of our existing offering across Europe, will take Imaweb to its next phase of growth into a truly continental European player.”
Volker Holthaus and Karl-Heinz Schlapp, Co-Founders of Procar, added, “We are excited to become part of the Imaweb story. Their established footprint across Europe combined with their collaborative approach make Imaweb the right partner to take Procar to the next level.”
PSG invested in Imaweb in May 2019, backing the company’s founders to seek to transform the leading automotive CRM solutions provider in Spain into a pan-European player. Since then, Imaweb has grown quickly through a combination of organic growth and strategic M&A. In September 2019, Imaweb established a significant presence in France with the acquisition of IDF/Datafirst, a leading dealership software developer in the country, before consolidating the platform through the additional acquisitions of TMS and Adstrategy. Imaweb’s market position in Spain and Portugal was further strengthened through the acquisition of Serinfer, and the group has obtained a substantial presence in Benelux through the acquisitions of ITMotive and Evolutive.
Financial terms were not disclosed.
Notes to Editors
Imaweb is a leading developer and distributor of digital solutions for the automotive sector in Europe. The company was formed through the merger of Imaweb, a Spanish company dedicated to developing global customer management solutions for sales, marketing and after-sales, and DATAFIRST-I’Car Systems group, a French software development company for car manufacturers, group distributers and dealers, in 2019. For more information, visit https://www.imaweb.com/.
Procar is one of Germany’s leading providers of digital software solutions in the automotive industry. Founded in 1998 by Volker Holthaus and Karl-Heinz Schlapp, Procar provides solutions to c.1000 dealerships and OEMs in the DACH market. Users of its solutions include dealers across multiple global automotive brands, including Toyota, BMW, Skoda, Seat, VW, Audi, Ford, Renault and Nissan. For more information, visit https://www.procar.de/.
PSG is a growth equity firm that partners with lower middle-market software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 65 companies and facilitated over 275 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City and London.