• EQT VIII to acquire SUSE, a leading global provider of open source infrastructure software for enterprises

• EQT VIII is partnering with CEO Nils Brauckmann and his team to support SUSE’s next period of growth and innovation, and to strengthen its position as leading open source player both organically and through add-on acquisitions

• SUSE to further build its brand and unique corporate culture as a stand-alone business

The EQT VIII fund (“EQT” or “EQT VIII”) has agreed to acquire SUSE, a leading global provider of open source infrastructure software for large enterprises, from the global infrastructure software business Micro Focus International plc (“Micro Focus”) for an enterprise value of USD 2.535 billion. The transaction is subject to Micro Focus shareholder and customary regulatory approvals.

Founded in 1992, SUSE is the world’s first provider of an enterprise-grade open source Linux operating system. With sales of USD 320 million in the 12 months ended October 31, 2017 and approximately 1,400 employees worldwide, SUSE is today a market leader in enterprise-grade, open source software-defined infrastructure and application delivery solutions for on premise and cloud-based workloads. During the ownership of Micro Focus, SUSE has operated as a semi-independent business under the leadership of Nils Brauckmann, executing on a clearly defined growth charter. SUSE has also successfully expanded its product portfolio, including solutions for cloud and storage as well as container and application delivery technology.

EQT VIII will support SUSE’s next period of growth and innovation as an independent company. The strategy includes strengthening its position as a leading open source player, both organically and through add-on acquisitions, leveraging EQT’s long-term experience in the software space. Priorities will be to further build SUSE’s public cloud business and to expand its next-generation product offerings in order to strengthen SUSE as a leading provider commercializing open source for enterprise customers.

“Today is an exciting day in SUSE’s history. By partnering with EQT, we will become a fully independent business,” said Nils Brauckmann, CEO of SUSE. “The next chapter in SUSE’s development will continue, and even accelerate, the momentum generated over the last years. Together with EQT, we will benefit both from further investment opportunities and having the continuity of a leadership team focused on securing long-term profitable growth combined with a sharp focus on customer and partner success. The current leadership team has managed SUSE through a period of significant growth and now, with continued investment in technology innovation and go to market capability, will further develop SUSE’s momentum going forward.”

Johannes Reichel, Partner at EQT Partners and Investment Advisor to EQT VIII, adds: “We are excited to partner with SUSE’s management in this attractive growth investment opportunity. We were impressed by the business’ strong performance over the last years as well as by its strong culture and heritage as a pioneer in the open source space. These characteristics correspond well to EQT’s DNA of supporting and building strong and resilient companies, and driving growth. We look forward to entering the next period of growth and innovation together with SUSE.”

The transaction is subject to approval from Micro Focus shareholders and other relevant authorities.

Jefferies acted as lead financial advisor and Arma Partners acted as financial advisor to EQT VIII. Milbank, Tweed, Hadley & McCloy LLP and Latham & Watkins LLP acted as legal advisors to EQT VIII.

Contacts
Johannes Reichel, Partner at EQT Partners, Investment Advisor to EQT VIII, +49 89 255 49 904
EQT Press office, +46 8 506 55 334

About SUSE
SUSE, a pioneer in open source software, provides reliable, software-defined infrastructure and application delivery solutions that give enterprises greater control and flexibility. More than 25 years of engineering excellence, exceptional service and an unrivaled partner ecosystem power the products and support that help our customers manage complexity, reduce cost, and confidently deliver mission-critical services. The lasting relationships we build allow us to adapt and deliver the smarter innovation they need to succeed – today and tomorrow.

More info: www.suse.com

About EQT
EQT is a leading investment firm with approximately EUR 50 billion in raised capital across 27 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

Hantverksdata has successfully grown and developed its business in the Nordic region over many years. The digitalization of the building services industry is however happening faster than ever. The company is now strengthening its ownership structure by bringing in Adelis as a majority owner in order to entrench its position as the leading ERP provider in the Nordic Region focused on the building services industry.

Hantverksdata is a leading provider of administrative software developed for craftsmen in the Nordic region. The company is leading within the electricity, HVAC, painting and glass segments with its modular system, but also active within other service and contracting segments such as alarms, flooring, plating, refrigeration, elevators and construction. Hantverksdata has around 4,000 corporate customers and 35,000 users.

“This is a forward-looking move for Hantverksdata to be able to capitalize on the opportunities available to us in the craftsmen industries in the coming years. Adelis has proven experience in developing companies both in the IT and the building services sectors. This makes them the perfect partner for us as we take the next step in building our company. Basically all current owners have chosen to continue as shareholders. This is proof of our strong belief in the future journey for Hantverksdata,” says Mikael Viotti, CEO at Hantverksdata.

“Through its software applications Hantverksdata delivers great value to its customers in an industry that is digitalizing. We are impressed by Hantverksdata’s management team and skilled employees and by the company’s strong development both in Sweden and in other Nordic countries. We are looking forward to supporting Hantverksdata on its growth journey,” says Joel Russ at Adelis.

The board of Hantverksdata will be significantly strengthened in connection with the transaction. Both Anders Böös, previously chairman of IFS, and Petter Håkanson, previously CEO of Assemblin, will join the board.

Anders Böös, incoming chairman of the board at Hantverksdata remarks: “Hantverksdata has through a first-rate product and a well-defined customer offering, built a leading market position. I am excited by the company’s opportunities, and I am looking forward to contributing to its continued growth and expansion.”

For further information:

Hantverksdata: Mikael Viotti,  mikael.viotti@hantverksdata.se, +46 70-389 00 93

Adelis Equity Partners: Joel Russ, joel.russ@adelisequity.com, +46 73-543 30 68

About Hantverksdata

Hantverksdata has more than 45 years of experience of marketing ERP systems to the building services inudstry. Hantverksdata currently has 100 employees in Sweden, Finland, Norway and Denmark and has a turnover of around SEK 165 million. The company has around 4,000 corporate customers and 35,000 users. For further information please visit www.hantverksdata.se.

About Adelis Equity Partners

Adelis is an active partner in creating value at medium sized Nordic companies. Adelis was founded with the goal of building the leading middle market private equity firm in the Nordics. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, acquiring 15 platform investments and making more than 40 add-on acquisitions. Adelis now manages approximately €1 billion in capital. For more information please visit www.adelisequity.com.

The Access Group announces strategic investment from Hg alongside existing investor TA Associates at an enterprise value of £1 billion

The Access Group, a leading provider of fully integrated business management software to UK mid-market organisations, announced today a strategic investment from Hg valuing the business at an enterprise value of approximately £1 billion. Current majority shareholder TA Associates will retain joint control of The Access Group.

With its portfolio spanning Finance, HR, Payroll, Hospitality, Recruitment, Health & Social Care, Manufacturing & Distribution, Education and Not for Profit sectors, The Access Group is the leading vendor of mission-critical business software to mid-market organisations in the UK.

Chris Bayne, CEO of The Access Group, commented, “We have enjoyed our close partnership with the team at TA Associates, and we’re very proud of the considerable growth we’ve achieved together to date. We look forward to continuing our relationship with them and welcoming our new investors, Hg, to further assist us in our journey as one of the UK’s leading providers of cloud-enabled business application software. With these two marquee investors, we will have access to significant resources and expertise to continue to deliver innovation and value for our clients.”

“We are very impressed by Chris Bayne, his strong management team and vision for the business, focused on delivering an ever-expanding portfolio of mission-critical software to a growing base of very satisfied and loyal customers.” said Jonathan Boyes, Partner at Hg.

“It has been a pleasure to partner with Chris Bayne and his team since we invested in the business in January 2015,” said J. Morgan Seigler, Managing Director at TA Associates. “The business has experienced strong organic growth, executed 11 acquisitions, entered three new vertical markets and grown its customer base to more than 12,700 UK businesses and not-for-profit organisations. We look forward to partnering with Hg to support the company through its next phase of growth.”

Arma Partners is serving as financial advisor to The Access Group. Harris Williams is serving as advisor to The Access Group’s Management. Travers Smith is serving as legal advisor to TA Associates and The Access Group. Linklaters is serving as legal advisor to Hg.