LEMONSOFT – A highly profitable and rapidly growing Finnish software company
Rite became a shareholder in 2016 by acquiring a minority stake from the founder and key employees. By that time, the company had a turnover of 5.3 MEUR. During the investment period, we consequently increased our ownership to over 60%.
Lemonsoft develops and sells ERP software solutions to streamline its customers’ processes across different business lines and administration functions. The company’s customer base consists of over 7,600 customers, primarily within industrial manufacturing, wholesale and retail, professional services automation, construction and accounting.
We were impressed by the founder and entrepreneur Kari Joki-Hollanti, who has an extensive background within the Finnish ERP and software market and his ambitions with the company. The core DNA of Lemonsoft lies within product development and to always strive to be a technological frontrunner.
During Rites investment period, several strategic initiatives has been followed through and Lemonsoft has developed into the markets most comprehensive and versatile ERP solution with all central functions in one package, providing Lemonsoft with a strong competitive edge.
In addition, Lemonsoft has completed eight bolt-on acquisitions that further strengthens the company’s strong market position and offering to its customer in selected customer verticals and customer size (20-250 employees).
In November 2021, Lemonsoft was listed on First North at Nasdaq OMX Helsinki. By the time of the IPO, Lemonsoft had increased its profits with above 25% per annum (CAGR 4 yrs.) reaching 17.2 MEUR in net sales with an adjusted EBIT of 5.4 MEUR (31.4%).