On January 19, the logistics IT specialist Ecovium announced the acquisition of the Mantis Group, a WMS provider headquartered in Athens. The merger is effective immediately. Ecovium and Mantis are joining forces to offer integrated SCE solutions to companies with global business activities that require worldwide support. The transaction was supported by FSN Capital Partners, a private equity investment firm and advisor to FSN Capital Funds. The company, with offices in Oslo, Stockholm, Copenhagen and Munich, is the lead investor in Ecovium.

"Logistics is increasingly global and cross-company. Our customers have to meet the most diverse requirements ever more quickly, because logistics processes know no boundaries. A single IT provider is no longer able to map all processes. That is why we are positioning ourselves as a group with interlocking logistics modules. Thanks to the complementary portfolio and expertise of the Mantis Group, we can offer our customers international solutions for supply chain management," says Jasmino Burkic, CEO of the Ecovium Group.

Ecovium emerged from the twelve companies of the MHP Solution Group in 2021. The company was founded in Neustadt am Rübenberge in 1999 and serves more than 3,000 customers with 300 employees at twelve locations.

With 120 employees and representatives in nine countries as well as numerous partners, Mantis' business activities extend to over 30 countries in Central and Eastern Europe, Israel, the USA and Canada as well as Latin America, the Middle East, North Africa and Asia-Pacific. Mantis' flagship product is the Logistics Vision Suite (LVS), a WMS/logistics software suite. More than 600 companies use Mantis to manage, optimize and automate their distribution and e-fulfillment centers.

"We see an increasing demand from companies for comprehensive and seamlessly integrated SCE software suites and total solutions with proven user success in their respective vertical markets and geographic regions. Following this current trend, we have actively sought to partner with successful logistics software and solution providers that complement our portfolio and expand our geographic coverage. In doing so, we came across Ecovium, who are the perfect match for us. The merger will make Ecovium a global provider, backed by leading private equity firms, with a 360-degree portfolio of SCE solutions. With this positioning, Ecovium will play a key role in the international markets," says Yiannis Panagiotopoulos, CEO of Mantis Group.

The merger will make Ecovium a global software and solutions provider with more than 400 employees at 21 locations worldwide, serving a customer portfolio of around 4,000 companies from a wide range of industries.

"We are very impressed by the performance of Yiannis Panagiotopoulos and his team, who have successfully established Mantis as a leading global WMS provider. With their extensive know-how and many years of experience, they are an excellent fit for Ecovium's growth strategy. We look forward to working together and to enabling our customers to work sustainably, fairly and economically at all process levels and to paving the way for new paths in logistics," summarizes Jasmino Burkic.

Robin Mürer, Partner at FSN Capital Partners, sees the merger as a highly attractive investment opportunity: "The market for logistics software is growing rapidly, fueled by the explosive growth of online trade and the increasing complexity of supply chains. In addition, the market is still highly fragmented and we see a clear consolidation opportunity. Our diligence has shown that Mantis is an internationally recognized leader in the WMS market and is highly valued by its customers and partners. We are therefore convinced that this merger will sustainably support Ecovium on its way to becoming an international provider of comprehensive logistics software and position the company well for further growth."