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GRO hikes up iPoint investment

GRO Capital has increased its majority stake in iPoint, a developer of software for field service companies.

GRO Capital has increased its majority stake in iPoint, a developer of software for field service companies. No financial terms were disclosed.

PRESS RELEASE

Reutlingen, Germany, March 28, 2022 – iPoint-systems gmbh announced today that GRO Capital has further increased its majority shareholding in the company to continue iPoint’s successful development. Founder and current CEO Joerg Walden is stepping down from his operational role at the end of the month to pursue new challenges as a serial entrepreneur and will continue to guide iPoint through his board position. Until a successor takes over, Peter Schmidt, iPoint’s Managing Director and Chief Revenue Officer, has been appointed interim CEO.

“In 2020, after almost two decades of successful organic growth, I made the decision for an investor to further expand iPoint’s strong position in Europe and deepen the markets in North America and Asia,” said Joerg Walden, who founded the company in 2001 and has successfully led it ever since. “I am breaking new ground, but compliance, sustainability and social impact remain my themes.”

Morten Weicher, Partner at GRO Capital, emphasizes, “We would like to thank Jörg Walden for his invaluable contribution in building iPoint over the years and for our partnership to date. Together, we have been able to build on the company’s strengths – its products, its vision and its customer base. As a result, we are increasing our investment to continue iPoint’s transformation into an international leader in product compliance and sustainability products and services.”

Through this transaction, there will be no change in the strategy of iPoint. Together, iPoint and GRO Capital are pursuing the goal of further developing the company’s innovative products in the field of product compliance, product life cycle management, and carbon footprint analysis and accelerating global growth. The company aims to consolidate its strong position in Europe while continuing to expanding into the North American markets.

“The technologies iPoint has developed since its founding in 2001 under Jörg Walden are more important today than ever before,” says Morten Weicher. “This is because compliance and sustainability challenges can only be met through innovative digital technologies. By expanding our investment, we want to underline our clear commitment in this direction.”