Scottish-based ERP company, Cooper Software, has received a significant investment from YFM Equity Partners (YFM), to support plans to expand its customer base, develop its product offering and target overseas markets.
An independent provider of products, consulting services and 24/7 support for ERP, Cooper Software was founded in 2005 by current CEO Frank Cooper. It has provided more than 1,500 enterprise solutions for over 300 clients worldwide, helping businesses manage day-to-day functions and bringing the flow of data between these processes into a unified platform.
Based in Dalgety Bay, Fife, Cooper Software employs 70 people. The company comprises two divisions; the first specialises in supplying and integrating the IFS ERP system, while the second, separate division has developed its own SaaS solution, ProScope, to complement the Oracle NetSuite ERP platform.
ProScope is a native application that extends the functionality of NetSuite, enabling it to be used effectively by project-based industries such as energy, facilities management, construction, renewables and shipping. Already, the company has sold it to businesses around the world, including in the USA, Scandinavia, Australia, Europe and Africa.
Frank Cooper, CEO of Cooper Software, said: “Enterprise Software is going through a huge change and both IFS and NetSuite are leading this charge in their respective fields. As we look to maximise the opportunities, bringing YFM on board is a key part of that strategy, giving us the flexibility and backup that will allow us to execute our plan to grow Cooper Software both significantly and rapidly. Cooper Software is built on strong foundations of healthy recurring financials, an expert, dedicated and experienced team, strong partner and customer relationships and clear USPs. We believe YFM shares many of these characteristics and is a good cultural fit to be the strong strategic partner we need to help drive the business forward.”
YFM has a strong track record in the tech sector, including working with the award-winning digital transformation and customer experience specialist FourNet and with enterprise database management business DSP Explorer.
Andy Thomas, YFM partner, said: “Over the last 16 years, Frank and the team have established a successful technology business from the ground up that retains a family feel, but they recognise that the time is right to take it to the next level. Cooper Software has demonstrated its ability to really understand its clients’ business operations and, partnering with IFS and NetSuite, implement market-leading ERP software in order to create bespoke solutions. The addition of its own ProScope product has also shown the company’s potential to develop leading edge, modern software relevant to its target sectors, and we believe there is a real global opportunity to target new international markets, with plans already underway to expand into Germany.”