Incore, a specialist in the development of mission-critical logistics and supply chain software, is being acquired by ICT Group B.V., which is acquiring 100% of the shares. Hogenhouck M&A advised Incore on this transaction.
Incore is a household name in the market
Incore provides a SaaS application that helps improve collaboration within the supply chain sector. In this segment, Incore is a household name and has a broad installed base among renowned clients in the Netherlands, Belgium, and Germany. Successful companies such as Action, Bol.com, Carrefour, Jumbo, HEMA, and Heijmans use Incore’s logistics solutions.
After being founded in 2007 by Martin and Ferdinand Swaters, the company grew—thanks to its Supply Chain Portal—into a leading provider for the retail sector. In addition, its use in the construction and food sectors has increased in recent years. The current owners will continue to lead the company under the ICT banner.
Martin Swaters, CEO of Incore: “We look forward to becoming part of ICT Group. We are a small company with large clients. This acquisition will allow us to further professionalize and expand the services we provide to our clients.”
Momentum for Growth in the Retail and Construction Sectors
Given the emergence of increasingly complex logistics processes and the strong growth in e-commerce, ICT Group sees strong momentum for Incore to grow in both the retail and construction sectors. Goods come from a wide variety of suppliers both domestically and internationally, and due to pressure on timing and prices, operational excellence is essential for effective cost control. ICT Group employs 2,000 specialists and has offices in the Netherlands, Bulgaria, France, Germany, Portugal, and Sweden.
Karim Henkens, CEO of ICT Group: “The acquisition of Incore aligns with ICT’s strategy to be a leader in a number of select markets. Incore strengthens our position in the retail and logistics markets, where they can join forces with our existing brands: ICT Logistics, Yellowstar, and OrangeNXT. We also see opportunities to expand this offering to other European countries where ICT Group operates. Incore’s employees are passionate professionals with an excellent track record, and we are delighted to welcome them to ICT Group.”
Incore was advised by Hein Stoops, Daan Zonneveld, Edwin Lips, and Adriaan Verbeek from Hogenhouck. Hein Stoops: “Joining ICT Group marks the beginning of a new phase for Incore, which will allow for the accelerated rollout of the high-quality products developed by Martin and Ferdinand Swaters and their team. In addition, with ICT Group’s resources, Incore can serve its customers even better, and ICT Group gains a proven software product with a strong team and prestigious clients.”
