LS Retail is a leading independent provider of vertical software for the retail and hospitality industries. Built on the Microsoft Dynamics platform, LS Retail’s unified commerce suite simplifies and improves operations and customer service for businesses worldwide across hospitality, pharmacy, retail and food & beverage.

Founded in Reykjavik, and operating under the LS Retail name since 2007, the company employs around 300 people, with offices in Iceland, Portugal, the US, the UAE and Malaysia.

“LS Retail is one of the preferred software providers for retail and hospitality businesses around the world,” says Christoffer Müller, Partner at Axcel. “Its unified commerce solutions enable companies to manage their operations on one platform, from point-of-sale and customer loyalty to financials. We look forward to supporting LS Retail as it continues to grow internationally, putting our many years of experience in vertical software to work.”

Digitalisation and cloud transition drive demand
LS Retail operates in an attractive, growing market driven by the digitalisation of the retail and hospitality sectors and by companies’ ongoing shift from on-premises IT solutions to cloud-based platforms.

With Axcel, LS Retail gets a partner with extensive experience in vertical software, partner channel sales and cloud transition, gained from investments in companies such as EG, SuperOffice and Progrits.

Global footprint through broad partner network
LS Retail’s vertical software solutions are built on the Microsoft Dynamics 365 Business Central platform and are sold and implemented in more than 110,000 outlets and restaurants through a global network of more than 280 certified partners across 157 countries.

“LS Retail is a dynamic, innovative, highly ambitious company. In the past five years, we have experienced success after success, with consistently high customer satisfaction, business growth and global recognition of our brand and of our technological innovations,” says Kristjan Johannsson, General Manager of LS Retail. “We’re excited about the partnership with Axcel, a Nordic investor with a deep understanding of the software industry, and look forward to leveraging their business expertise to continue pushing boundaries in our global expansion.”

LS Retail is being acquired from Aptos, a US-based leader in retail technology solutions owned by funds managed by Private Equity at Goldman Sachs Alternatives. The transaction marks the tenth investment from Axcel VII.

Accura and RPC served as Axcel’s legal advisers. On the sell-side, William Blair acted as the exclusive financial adviser and Fried Frank as legal counsel to LS Retail in connection with this transaction.