Aareon acquires Fixflo
Fixflo is the UK´s leading provider of property repairs and maintenance software. With this acquisition, Aareon further expands its market position in UK and increases its product offering to the property industry.
Mainz, 25 May 2021 – Aareon AG, Europe’s leading Property Software company, and Fixflo, UK´s leading provider of property repairs and maintenance software, have signed an agreement on 21 May 2021 for the acquisition of one hundred percent of the shares in Fixflo by Aareon AG.
Fixflo offers a best-in-class SaaS solution that connects property managers, owners, tenants and contractors on a dedicated SaaS platform for repairs and maintenance management and comprehensively optimises business processes. The company was incorporated in 2012 and the solution is used to manage around 1.2 million units for around 1,500 customers.
Dr Manfred Alflen, CEO of Aareon AG: "By acquiring this high-growth SaaS company in the market for residential property managers, we are further expanding our market position in the UK. Clients will be able to benefit from our increasing product offering."
Rajeev Nayyar, CEO of Fixflo: “This is the start of the next exciting phase of Fixflo for our customers, partners and team. Throughout discussions with Aareon we’ve been impressed by their desire to help us to harness the benefits of scale across their group but to allow us the independence and flexibility to innovate and continue to work in partnership with our customers.”
Fixflo will continue to operate as an independent company but as a part of the Aareon family and Fixflo customers will benefit from a significant increase in Fixflo’s research and development budget as its solutions form part of the roadmap for the wider Aareon group. Fixflo co-founders Rajeev Nayyar and Duncan Careless, together with the whole Fixflo executive team are remaining with the business.
About Aareon
Aareon is the leading provider of ERP software and digital solutions for the European property industry and its partners. The Aareon Group offers pioneering and trusted software solutions to optimise business processes and business model development. Around 3,000 clients of the technology leader manage more than 10 million units across Europe. The Aareon Group is an international company with offices in the DACH region, Finland, France, Great Britain, the Netherlands, Norway and Sweden. Aareon operates its own development company in Romania. The Aareon Group employs over 1,800 people, with more than one-third based in its international subsidiaries. In 2020, Aareon generated revenue of around €258 million and adjusted EBITDA of €62 million.
About Fixflo
Fixflo’s repairs and maintenance platform is used by professional property managers to manage more than a million homes across the UK across a range of sectors including block management, build to rent, social housing, AST management and purpose-built student accommodation. Fixflo was founded by former property lawyer Rajeev Nayyar and former CTO of Friends Reunited Duncan Careless.
To find out more visit: www.fixflo.com
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