Conex continues its international development strategy with the acquisition of Lector, Denmark's leading customs software publisher
In the frame of its international expansion strategy, the French leading provider of customs and security management software backed by 21 Invest France’s Fund VI since September 2023, has completed a first acquisition with Lector, Denmark's top customs software publisher. This external growth operation allows Conex to further expand its European footprint and enhance its service offerings.
For almost 40 years, Conex has been helping companies involved in international trade, shippers and Registered Customs Representative (RCR) to optimize their customs and security management procedures through specialized software and related services.
With its long-standing expertise, comprehensive solution range, and tailored offerings, Conex dominates the French market. The group already has an international presence with subsidiaries in Belgium, the UK, in Ireland and a commercial presence in Spain. The partnership with 21 Invest aims to accelerate Conex's European growth, particularly through acquisitions, as now evidenced by the acquisition of Lector, a major player in Denmark.
Based in Copenhagen, Lector provides software solutions for Nordic and European clients. Its innovative, scalable platform simplifies customs processes, regulatory flows, and document management. Lector has a strong market position and a diverse customer base, contributing to its consistent and solid growth.
This first acquisition broadens Conex's geographical reach and product portfolio while enhancing its value proposition. The group experiences outstanding growth and reaches sales of nearly €20 million i.e. +50% compared to 21’s entry in 2023, with over 80% of revenue being recurring. The group employs 90 people across Western and Northern Europe.
Bertrand Gruson, CEO of Conex, says: "We are delighted to welcome Lector to the Conex family. Lector offers innovative and intuitive software solutions at the cutting edge of technology, giving full satisfaction to its customers, and which will benefit from the Group's R&D and be enriched by our technological input around AI and Blockchain. The Conex Group has now opened up a window on the Scandinavian countries and Northern Europe, further extending its capacity to support its customers."
Stéphane Perriquet, Managing Partner, and Hadrien Jourdan, Principal at 21 Invest France, comment: "We are very pleased with our first year collaborating with the Conex team. Alongside double-digit organic growth, the group is now poised to consolidate its leadership in Europe. The acquisition of Lector is the first step in this direction. We are also considering several other acquisitions that will complement our geographic reach and expand our offerings."
Tue Villum Sørensen, CEO of Lector adds: "We are delighted to join Conex and look forward to starting a new international chapter in Lector's history. Conex brings to Lector a wealth of resources, expertise and innovation that will enable us to improve our products and services and open up new markets. We are convinced that this support will have a positive impact on our customers.”
