HVD Group Strengthens European Presence with Acquisition of German Craftnote

 

HVD Group, the Nordic market leader in cloud based software for the tradespeople and construction industry, today announces a significant step in its strategic expansion with the acquisition of Craftnote, a fellow SaaS company specializing in digitalized documentation, communication and project management.

 

The acquisition marks HVD Group's commitment to significantly strengthen and grow its presence in Germany. HVD Group has over 15,000 customers in the Nordics, UK and Germany and provides cloud based field service management and project management software. This helps customers to streamline workflows and administrative tasks. Expanding quickly, including its recent merger with Next One Technology, HVD Group strives to become the ultimate European market leader in its field. Following the acquisition of Craftnote, the Group has more than 450 employees and a turnover of over SEK 950 million.

 

"As we embark on this exciting journey, the acquisition of Craftnote not only helps us expand further in Germany but also moves us closer to our ambitions of becoming the pan European market leader. Our vision is clear by joining forces, we create a digitalization powerhouse with an enhanced portfolio and an attractive size to challenge the status quo. We are pleased to welcome Kapil and Craftnote into our group, our joint capabilities will not only complement each other but will also set the stage for significant growth”, says Mikael Viotti, CEO of HVD Group.

 

Dr. Kapil Kohli, CEO of Craftnote, sums it up: "The merger with the HVD Group allows us to develop Craftnote even further. In addition to the construction site, we can now focus on offering products for all process steps."

 

Craftnote, known for its innovative digitalized system for project communication and planning within the tradespeople and construction industry, brings added value to HVD Group’s portfolio. The acquisition is complementary and means both parties can contin ue to provide innovative and robust solutions to existing customers while attracting new ones. The parties are committed to drive digitalization of the industry and excited about the possibilities that lie ahead.

 

The transaction is expected to close in February 2024.