Providence-backed Imaweb-IDF bolts on Serinfer

With this add-on, Imaweb plans to further consolidate its presence in Spain and accelerate its expansion.

Providence Equity Partners acquired a majority stake in Madrid-headquartered Imaweb in May 2019. Subsequently, the GP bought I'Car Systems-DataFirst Group (IDF), a French software developer for automotive manufacturers and dealers, from Argos Wityu in September 2019, and merged the two companies.

The GP invested from Providence Strategic Growth IV, which held a final close on $2bn in September 2019. The fund focuses on growth equity investments in lower-mid-market software and technology-enabled service companies.

Company
Established in 1998 and based in Vigo, Serinfer is a developer, distributor and supplier of customer relationship management (CRM) and dealership management systems (DMS) software for the automotive industry.

Its flagship product is Serauto, a DMS tool that works modularly and can be integrated into the existing technology of any dealership or workshop. It offers a range of features including inventory management, service quality monitoring and cloud computing. It is used by more than 600 clients across Iberia and is the exclusive DMS provider for Porsche dealers in Spain and Portugal, according to the company.

In addition to Serauto, Serinfer develops complementary commercial applications, including Active Reception, which enables the digitisation of appointment booking, after-sales services and vehicle receipt and delivery; and GTW3, a cloud-based tool designed to improve workshop management by providing analyses of schedules, budgets, inventory and invoicing, with easy access from any connected device.

Serinfer generates annual revenues of around €17m.

People
Imaweb – Pedro Almeida (country manager for Iberia).

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