Montagu Private Equity (“Montagu”), a leading European private equity firm, announced today that it has agreed to a full exit of its stake in Visma, a leading provider of business-critical software to private and public enterprises in the Nordic, Benelux and Central & Eastern European regions, to a consortium of new and existing investors.
The transaction is part of a further investment from existing shareholders Hg, GIC and CPPIB, as well as from new shareholders TPG and Warburg Pincus, that will place an enterprise value on Visma of NOK 110 billion (US$ 12.2 billion), making this the largest ever software buyout globally.
Montagu has been an investor in Visma since 2010, reinvesting in 2014 and again in 2017. During that period Visma has grown to become the leading provider of SaaS productivity solutions to businesses across the Nordics, Benelux and Central & Eastern European regions. Since Montagu’s initial investment, the company has completed over 150 add-on acquisitions and achieved annualised revenue growth of over 20%, expanding geographically and developing Visma’s technology offerings in the process.
Visma is the largest provider of cloud-delivered Software-as-a-Service (SaaS) products to European businesses, having strategically invested in SaaS technology for more than a decade. Today Visma has over 11,000 employees, including 4,000 software developers who serve over 1 million business customers.
Ed Shuckburgh, Director at Montagu, commented: “We are proud to have joined and supported Visma’s management team over the past decade in their impressive growth journey. Since our initial investment, the company has expanded to become one of the most successful software businesses in Europe. We wish the team and everyone at Visma well as they embark on this next stage of their journey.”