CLEVR Acquires Start-up Digitread, System Integrator, Specialist in PLM, Manufacturing and Marine

- CLEVR makes inroads in the $26 billion a year PLM space and Siemens software ecosystem

- Digitread is pioneering manufacturing and marine implementation services and solutions in highly specialized market

- CLEVR's expertise in low-code and Mendix will help Digitread build sophisticated PLM solutions faster and more efficiently

AMERSFOORT, Netherlands, Aug. 17, 2021 /PRNewswire/ -- CLEVR, the low-code and no-code Software-with-a-Service specialist, announced that it has acquired Digitread, one of the world's rising stars in Product Lifecycle Management (PLM) system integration and a platinum-level solution partner of Siemens. The acquisition immediately raises the profile of CLEVR's geographic and vertical expansion within the industrial, manufacturing, marine and energy industry. The deal is supported by management and funded by CLEVR's majority shareholder, London-based Volpi Capital.

For years manufacturing organizations and their suppliers have needed greater digitalization for their supply chains and production processes. The recent COVID-19 crisis exposed this, when many marine, manufacturing and engineering-to-order companies had to accelerate their digitization efforts and transformation. PLM and Mendix add-on solutions ensure process optimization, big data information integration and utilization to produce a sturdy digital backbone and maximize operational excellence.

"Digitread enables us to combine PLM rock stars with CLEVR's low-code Mendix champions," said Angelique Schouten, named CLEVR CEO in March. "Very few companies can do what Digitread does, configuring and integrating some of the world's most complex systems in the industrial, manufacturing and marine space. We'll combine Digitread's high-touch approach with CLEVR's high-tech expertise and help manufacturing companies across the globe complete their digital transformations by offering off-the-shelf solutions and highly specialized consultancy services."

Headquartered in Norway, with offices in Germany and Lithuania, Digitread is one of the most recognized and trusted names in PLM, a market that generates $26 billion a year. Digitread's 100+ customers include companies such as Kongsberg, Nexans and OneSubsea.

"Everyone at Digitread is excited about working shoulder to shoulder with CLEVR," said Magnus Normann, Digitread's CEO. "PLM systems are product biographers. PLM is the process of managing a product and data from concept through design, manufacturing, service and finally disposal. With the help of monitoring tools, they convey detailed digital stories about products to managers, enabling them to increase sustainability, identify weaknesses, perform preventative maintenance, refine product performance or inform them on how to build new products. Low-code and no-code technology will help tell that story. The combination of skills and knowledge is good news for our customers."

Financial terms of the deal were not disclosed. 

About CLEVR

CLEVR is the low-code and no-code Software-with-a-Service (SWAS) solutions provider and the largest global Mendix expert partner. Managers overseeing the digitalization of their companies need skilled and experienced developers to help extract all the value and benefits available from low- and no-code development tools. CLEVR operates in 17 countries with a team of 230 people and supplies over 400 customers, including Continental, ING, eXp Realty, Siemens, Rituals, Cargolux, Nutricia, Etos, Eneco, Stella Fietsen, Mondi Group and T-Systems with solutions, services and tooling. Volpi Capital has supported CLEVR's buy-and-build strategy since 2019. Visit www.CLEVR.com for more information.

About Volpi Capital

Volpi Capital is a specialist European lower mid-market private equity firm. Volpi has a thesis-driven approach targeting ambitious businesses using enabling technologies to disrupt traditional B2B value chains. Volpi typically invests €25-75 million of equity in businesses with enterprise values between €50 million and €200 million and seeks to drive transformative growth through international expansion and consolidation. The firm, which was founded in 2016 by Crevan O'Grady and Marco Sodi, closed its first fund (Volpi Capital Fund I) in April 2018 with commitments of €185 million and its second fund (Volpi Capital Fund II) in January 2021 of €323 million. For more information visit www.volpicapital.com