16 November, 2020
Segulah Fund V has entered into an agreement to partner with Multisoft AB’s founders Emil Gyllenring and Ivar Algvere to develop and support the company in its next growth phase. Segulah will acquire a majority shareholding while the founders will retain a significant shareholding and remain in their respective operational roles. Senior employees will also be invited to the partnership as shareholders.
Multisoft, based in Stockholm with c. 80 employees, is a provider of business process systems for its clients, leveraging its proprietary low code platform Softadmin®. The company develops bespoke and standalone solutions, which can be seamlessly integrated with other systems as needed. Since its inception, Multisoft has delivered more than 400 projects to a broad range of customers, including Volvo, Länsförsäkringar and Vattenfall. The company has grown revenues by 15% CAGR in the last four years on the back of strong demand for its services.
Low code platforms employ module-based logic and drag-and-drop components to allow faster development of process solutions compared to traditional coding. The low code niche is outgrowing the broader market as increasing business complexity drives demand for bespoke systems that can be further developed over time as companies evolve.
“We look forward to partnering with Segulah and to leverage their extensive experience to reach our vision of becoming a leading provider of bespoke and pre-configured process automation solutions for complex business problems, with the market’s most satisfied customers and employees” says Emil Gyllenring, CEO and co-founder of Multisoft.
“Multisoft has taken a strong position within an attractive market with structural underlying growth driven by digitalisation and automation. The investment fits well into Segulah’s strategy and we look forward to working together with the founders to realise Multisoft’s full potential” say Percy Calissendorff and Johan Möllerström, Partner and Director, respectively, at Segulah Advisor AB.
The transaction is expected to close in January 2021 contingent on terms outlined in the purchase agreement. The acquisition will be the eleventh investment for Segulah Fund V.
For further information, please visit www.multisoft.se, www.segulah.com or contact:
Emil Gyllenring, CEO, Multisoft AB, +46 70 775 08 14, emil.gyllenring@multisoft.se
Percy Calissendorff, Partner, Segulah Advisor AB, +46 73 347 62 81, calissendorff@segulah.se
Johan Möllerström, Director, Segulah Advisor AB, +46 72 543 79 11, mollerstrom@segulah.se
Note: Emil Gyllenring and Ivar Algvere will own their shares through their respective wholly owned companies.
