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Founded in 2023 by André Giovannini Larronda Asti, search fund Iole Capital has acquired Simova, a Brazilian software services company, after analyzing more than 420 companies during its search period. Transaction details have not been disclosed, but Kviv Ventures has joined as an anchor investor and will hold a board seat. The company’s founders, Fábio Calegari and Tiago Pinheiro Silva, will remain involved in Simova’s future growth, leading the technology and operations areas.
Founded in 2004 in São José dos Campos, Simova specializes in field operations management software and operates in 12 countries across four continents. The Brazilian company is a global leader in promoting operational efficiency and management through its SaaS solutions for agriculture, construction, and service and maintenance management. Its clients include Suzano, Agro Amazônia, Andrade Gutierrez, and Grupo Galvão. Simova’s software manages more than 80,000 people and over 6,000 assets in operation, with more than 1 billion data points collected on its platform. The company has achieved annual growth of over 40% over the past six years, generates approximately US$5.7M in revenue, and expects to reach an EBITDA of around US$1.9M this year.
The acquisition attracted Asti due to Simova’s high level of recurring revenue, low churn, robust customer portfolio, and the sector’s continued expansion. The objective is to further grow the customer base in North, Central, and South America, Europe, and Africa, while expanding into Asia and Oceania. The goal is to strengthen Simova’s position as a global SaaS leader in agribusiness and to increase EBITDA by tenfold over the coming years.
M&A: Acorn Advisory
