Tag Archives: Software

SeaCross joins Adelis’ recently established defence technology group

Adelis Equity

eaCross, the leading provider of navigation software for high-speed operations in littoral, coastal and open waters, welcomes Adelis Equity (“Adelis”) as new majority shareholder. SeaCross will join Adelis’ recently established defence technology group and marks the second investment of the group. The company group consists of leading niche software companies, with the joint mission to support the protection of people and societies.

SeaCross, the Swedish provider of navigation software for high-speed operations in littoral, coastal and open waters, enters a partnership with the recently established defence technology group founded by Adelis and its partners. The group will support SeaCross to realise its growth ambitions and back the management team, led by Axel Törneman, to successfully scale its business. SeaCross marks the second investment of the group, after the announcement of the partnership with Bruhn NewTech in July.

SeaCross is a leading provider of navigation software, focused on high-speed marine crafts navigating in littoral, coastal and open waters. The company serves customers across the globe and has a strong position in the defense market. Since its foundation c. 20 years ago, SeaCross has continuously developed its software in close collaboration with its customers. The company has grown strongly in recent years and sees strong interest in its products and services from customers across the globe to increase their marine navigation capabilities.

“We are very excited to join Adelis’ recently established defence technology group. We have a strong belief in that this group can help niche technology and software companies, like ourselves, to grow successfully and to even better support our customers. We really look forward to the partnership together with Bruhn NewTech, Adelis and the other partners in the group”, say CEO Axel Törneman and Chairman Harald Nilsonne, who will both remain shareholders in the company.

Continued commitment to deliver the best navigation software for high-speed crafts

In the partnership with Adelis and the defence technology group, SeaCross will continue to develop and invest in its software. The company remains committed to deliver on the end users’ high demand for a navigation software they can rely on, when navigating at high speed in the toughest condition possible.

“We are impressed by what Axel Törneman, Harald Nilsonne and their team have developed over the years. SeaCross plays in its own league when it comes to high-speed crafts navigation in littoral waters. We are pleased to welcome them to the defence technology group and look forward to the partnership ahead”, say Hampus Nestius and Joel Russ at Adelis.

Establishment of a defense technology and software group

SeaCross marks the second investment in the defense technology group established by Adelis and its partners. The group aspires to support Western and democratic countries to protect people and societies, as well as to support small- to mid-sized defense technology companies to scale and develop. The acquisition of SeaCross follows shortly after the first acquisition, of Bruhn NewTech, which was announced in July.

“We are very excited to get this group going and look forward to welcoming many more leading niche software and technology companies focused on the defense sector in the years ahead”, say Hampus Nestius and Joel Russ at Adelis.

The transaction closed in August, after having received applicable regulatory approvals. Financial terms of the transaction were not disclosed.

For further information:

Axel Törneman, SeaCross Marine AB

Hampus Nestius, Adelis Equity Partners

Joel Russ, Adelis Equity Partners

About SeaCross Marine

Born in Scandinavia, the SeaCross system was developed based on experience and knowledge derived from operating high-speed crafts in this exceptionally demanding navigational environment. Since the first product launch in 2006, SeaCross has evolved into a platform with unique functionality specifically designed for the most demanding environments and end users. This evolution continues through extensive collaboration with SeaCross customers – especially those whose needs exceed what the recreational market can offer. For more information, please visit https://www.seacross.se.

About Adelis Equity Partners

Adelis is a growth partner for well-positioned companies in the Nordic and DACH regions. Adelis partners with management and/or owners to build businesses in growth segments and with strong market positions. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, making 42 platform investments and more than 230 add-on acquisitions. Adelis manages approximately €3.0 billion in capital. For more information, please visit www.adelisequity.com.

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Rubicon Technology Partners Closes $500 Million Single-Asset Continuation Fund to Support the Continued Growth of Cin7

Rubicon

BOULDER, Colo., Nov. 18, 2024 /PRNewswire/ — Rubicon Technology Partners (“Rubicon”), a private equity firm focused exclusively on middle-market software investments, today announced the successful completion of a $500 million single-asset continuation fund to extend its partnership with Cin7, a global leader in cloud-based inventory management software. CVC Secondary Partners served as the lead investor, with participation from other institutional investors including Ares Management funds, funds managed by BlackRock, funds managed by Goldman Sachs Asset Management, and Schroders Capital. This transaction allows Rubicon to provide liquidity to existing investors while enabling Cin7 to accelerate its growth through organic initiatives and targeted acquisitions.

Cin7 supports over 8,500 businesses worldwide, offering end-to-end inventory and order management solutions that streamline supply chain operations across retail, wholesale, and e-commerce distribution channels. By enabling seamless operation and visibility across the inventory lifecycle, Cin7 has become a pivotal solution for businesses looking to manage their supply chain operations and scale effectively.

“This continuation fund reinforces our commitment to Cin7’s vision and growth,” said Jason Winsten, Partner at Rubicon. “We’re thrilled to continue supporting Cin7 in its mission to help businesses grow faster and more efficiently with seamless inventory management solutions.”

“We’re excited to deepen our partnership with Rubicon as we embark on Cin7’s next phase of growth,” said Ajoy Krishnamoorthy, CEO of Cin7. “Over the past five years, Rubicon has been instrumental in helping Cin7 become a global category leader—driving accelerated growth, executing strategic acquisitions, and enhancing our business. They’ve been a true thought partner along the way, and we look forward to continuing this successful collaboration with Rubicon and our new investors as we accelerate product innovation and expand our reach.”

“Cin7 is well positioned for continued growth, and we’re excited to help accelerate its expansion and market leadership,” said Rikesh Mohandoss, Partner at CVC Secondary Partners. “Our partnership with Rubicon and Management is a testament to Cin7’s proven capabilities and Rubicon’s successful track record in driving value.”

Evercore acted as financial advisor and Simpson Thacher & Bartlett LLP served as legal counsel to Rubicon.

About Rubicon Technology Partners

Rubicon Technology Partners is a middle-market private equity firm that invests in enterprise software companies with proven products and talented management teams to help grow and scale their businesses. Rubicon utilizes a collaborative approach to enable companies to adapt to the changing requirements of their businesses as they grow and scale using a set of proprietary processes, best practices and a portfolio-wide engagement model. Rubicon has over $4 billion in assets under management and is headquartered in Boulder, Colorado with additional offices in New Haven, Connecticut and Palo Alto, California. To learn more about Rubicon, please visit www.rubicontp.com.

About Cin7

Cin7 provides Connected Inventory Performance – cloud-based inventory management software with AI-powered forecasting capabilities that gives growing product businesses an automated and real-time view of the entire inventory lifecycle. Cin7’s Core and Omni products natively integrate with over 700+ applications, so business owners can consolidate, streamline, automate, and scale their inventory operation from one place. Founded in 2012, Cin7 has grown into a global force, supporting product sellers in 100+ countries, serving 8,000+ customers and processing over 125 million orders annually. For more information about Cin7, please visit www.cin7.com.

About CVC Secondary Partners

CVC Secondary Partners (formerly Glendower Capital) is a private equity firm focused on secondary private markets globally. Established in 2017 as a spin-off from a leading banking institution, the firm currently manages AUM of €15 billion across funds backed by leading institutional and private investors worldwide. Since 2022, CVC Secondary Partners has been part of leading global private markets manager CVC, having entered into a merger and strategic partnership to enhance combined capabilities and accelerate the development of its platforms. For more information, please visit www.glendower.com.

Certain statements quoted in the above article were made by an executive of a Rubicon portfolio company. Such executive has not received compensation for the above statement and this statement is solely his or her opinion and representative of his or her experience with Rubicon. Other portfolio company executives may not necessarily share the same views. A Rubicon portfolio company executive may have an incentive to make a statement that portrays Rubicon in a positive light as a result of the executive’s ongoing relationship with Rubicon and any influence Rubicon may have over the governance of the portfolio company and the compensation of its executives. It should not be assumed that Rubicon’s investment in such portfolio company has been or will ultimately be profitable.

Cin7 Logo

Cin7 is a leading provider of cloud-based inventory management software that empowers SMB and mid-market product sellers to succeed in the modern, global, multichannel economy by automating the sale, purchase and delivery of products to consumers and B2B customers. The extensive functionality delivers impressive value to the core of product seller operations. Cin7’s solution empowers product sellers to grow by adding and improving sales channels while simultaneously increasing operational efficiency and removing costly operational mistakes.

Learn About Cin7

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Rubicon Technology Partners Closes $500 Million Single-Asset Continuation Fund to Support the Continued Growth of Cin7

CVC Capital Partners

Boulder, CO – Rubicon Technology Partners (“Rubicon”), a private equity firm focused exclusively on middle-market software investments, today announced the successful completion of a $500 million single-asset continuation fund to extend its partnership with Cin7, a global leader in cloud-based inventory management software. CVC Secondary Partners served as the lead investor, with participation from other institutional investors including Ares Management funds, funds managed by BlackRock, funds managed by Goldman Sachs Asset Management, and Schroders Capital. This transaction allows Rubicon to provide liquidity to existing investors while enabling Cin7 to accelerate its growth through organic initiatives and targeted acquisitions.

Cin7 supports over 8,500 businesses worldwide, offering end-to-end inventory and order management solutions that streamline supply chain operations across retail, wholesale, and e-commerce distribution channels. By enabling seamless operation and visibility across the inventory lifecycle, Cin7 has become a pivotal solution for businesses looking to manage their supply chain operations and scale effectively.

“This continuation fund reinforces our commitment to Cin7’s vision and growth,” said Jason Winsten, Partner at Rubicon. “We’re thrilled to continue supporting Cin7 in its mission to help businesses grow faster and more efficiently with seamless inventory management solutions.”

“We’re excited to deepen our partnership with Rubicon as we embark on Cin7’s next phase of growth,” said Ajoy Krishnamoorthy, CEO of Cin7. “Over the past five years, Rubicon has been instrumental in helping Cin7 become a global category leader—driving accelerated growth, executing strategic acquisitions, and enhancing our business. They’ve been a true thought partner along the way, and we look forward to continuing this successful collaboration with Rubicon and our new investors as we accelerate product innovation and expand our reach.”

Quotes

Cin7 is well positioned for continued growth, and we’re excited to help accelerate its expansion and market leadership,

Rikesh MohandossPartner at CVC Secondary Partners

“Cin7 is well positioned for continued growth, and we’re excited to help accelerate its expansion and market leadership,” said Rikesh Mohandoss, Partner at CVC Secondary Partners. “Our partnership with Rubicon and Management is a testament to Cin7’s proven capabilities and Rubicon’s successful track record in driving value.”

Evercore acted as financial advisor and Simpson Thacher & Bartlett LLP served as legal counsel to Rubicon.

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Apiary-backed LearnPro acquires Infographics

Apiary-backed LearnPro is pleased to announce the acquisition of Infographics, expanding its suite of virtual reality and e-learning software tailored for the UK emergency services sectors.

Roar acquires Infographics

This acquisition enhances the portfolio through the addition of the market-leading FireWatch, FloSuite and Prevent + Protect products, complementing existing software offerings, including XVR Simulation, pdrPro, and learnPro.

The addition of Infographics underscores LearnPro Group’s status as a leading software provider within the global emergency services and critical infrastructure market, while also addressing the growing demand for risk prevention solutions.

“We are thrilled to welcome Infographics to the LearnPro Group,” stated Costi Karayannis, CEO of LearnPro. “This acquisition strengthens our commitment to the UK Fire sector but also enables us to expand our ecosystem of management tools for the global emergency services and critical infrastructure sectors. We believe that the synergy of our combined capabilities will deliver even greater value to our customers.”

Ed Leeming, Investment Manager at Apiary Capital, added, “We are excited to support Costi and the LearnPro team as they drive their expansion strategy. Infographics aligns perfectly with LearnPro, and together, their combined resources will significantly benefit their user base.”

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Sumeru Equity Partners Invests $330 Million in JobNimbus

Mainsail partners

New investor Sumeru, JobNimbus co-founders, and existing investor Mainsail Partners back JobNimbus as an industry game changer making contractors heroes to their customers

Lehi, Utah – November 13, 2024 – JobNimbus, a game-changing SaaS provider for the roofing industry, today announced a $330 million growth investment from Sumeru Equity Partners (“Sumeru”). Existing investors including founder and CEO Ben Hodson, other co-founders Nick and Jason Wood, and Mainsail Partners will continue as investors in the business. This funding will help enable JobNimbus to scale its operations, expand product offerings, and continue its mission to transform the contractor technology space.

“This investment marks a significant milestone for JobNimbus and is a testament to the hard work of our incredible team,” said Ben Hodson, CEO of JobNimbus. “We chose Sumeru as our partner because of their expertise in scaling high-growth companies, and with this funding, we’ll continue to double down on our commitment to making contractors heroes, helping them drive their businesses forward with advanced technology.”

“JobNimbus is a unique company, transforming the day-to-day lives of contractors through aggressive product innovation and a mission-driven culture,” said Jason Babcoke, Sumeru Co-Founder and Managing Director, who will join the JobNimbus board of directors as part of the investment. “We are excited to partner with the JobNimbus and Mainsail teams to continue to scale the company, expand the platform, and create a clear category leader. JobNimbus is an ideal fit with our skill set helping founders and management teams scale SaaS businesses.”

Also joining the JobNimbus board of directors from Sumeru are Chris Litster, Paul Mercadante, Jack McCabe, and Blake Shott. Vinay Kashyap and KC Kanoff from Mainsail Partners will remain on the board.

“There’s a lot to be proud of from the last four years of our partnership with JobNimbus, from working together to expand the product suite and customer base, to completing three strategic acquisitions,” said Vinay Kashyap, Partner at Mainsail Partners. “Most importantly, JobNimbus has delivered on its mission to help roofing and residential contractors become heroes to their customers. We welcome the opportunity to partner with the Sumeru and JobNimbus teams to help drive the company’s continued growth and impact on the roofing industry.”

Read the Case Study: Building a Construction & Home Services Software Leader Through Strategic Growth

JobNimbus provides contractors with an all-in-one software that helps streamline their business operations. Contractors can quickly create quotes, order materials, and manage projects—all from a single, user-friendly platform. By simplifying these essential tasks, JobNimbus helps contractors save time and reduce overhead, empowering them to focus on growing their businesses.

The funding will be used to help accelerate product development, invest in AI-driven features, and scale the team to support growing demand from customers across the roofing industry. The company plans to expand significantly, with a focus on key roles in engineering, product development, and customer support.

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Accountor Software combines with 24SevenOffice’s ERP software division to expand Nordic footprint

KKR

Accountor Software and KKR, a leading global investment firm, today announce the next phase of Accountor Software’s growth journey; the acquisition of 24SevenOffice’s ERP software division, comprising among others 24SevenOffice Norway AS, 24SevenOffice Scandinavia Systems AS, and 24SevenOffice Sweden AB. The acquisition of 24SevenOffice’s ERP division is an important step in the plan to create one of the leading financial management and HR software businesses for the Nordics. By joining forces with Accountor Software, 24SevenOffice’s ERP software division becomes part of a growing B2B SaaS business backed by a large global investor with expertise in scaling high-growth software companies.  

The transaction follows KKR’s acquisition of a majority stake in Accountor Software earlier this year and supports the company’s ambition to become one of the leading pure-play business software companies, serving SMEs as well as larger organisations and corporations in the Nordics. By combining Accountor Software with 24SevenOffice’s ERP cloud software division, Accountor Software expands its footprint across the Nordics, adding around 30,000 customers in Norway.

“This is an exciting milestone and a natural evolution of our strategy to grow as one of the leading pure-play business software players across the Nordics. Joining forces with 24SevenOffice’s ERP software division will benefit all our stakeholders, from our world-class employees to our customers and partners. We are now firmly executing our plans to expand into new core markets, empowering a broader range of customers with cloud-based mission-critical software,” said Mikko Soirola, CEO Accountor Software.

“The combination of Accountor Software and 24SevenOffice’s ERP division is a perfect fit and will create a very competitive player across the Nordics, with capacity to meet the needs of a large pool of both SME and larger customers. We are impressed by both teams and look forward to supporting them on this growth journey,” commented Hans Arstad, Managing Director and Head of Private Equity in the Nordics, KKR.

24SevenOffice has in recent years accelerated the organic growth of its AI-accounting and ERP software division and has successfully penetrated the B2B SaaS market in Norway and Sweden, providing automated business administration solutions with built-in scalability and modularity.

Strong revenue development of 24SevenOffice’s AI-accounting and ERP software division has significantly contributed to the company’s solid financial performance this year, with ample opportunities for continued sustainable growth.

The acquisition will create additional value and synergies, further boosting Accountor Software’s best-in-class offering and technology platform, with added potential to serve and grow in the SME space as well as with larger organisations.

The transaction will have no impact on current relations with Accountor Software’s customers and business partners.

24SevenOffice Group AB is listed on Nasdaq First North Stockholm and the transaction is conditioned upon shareholder approval at an extraordinary general meeting, as announced by 24SevenOffice Group AB today. The transaction is also subject to regulatory approval.

Contact information

Kirsi Nystén, Senior Communication Manager, Accountor Software
kirsi.nysten@finago.com

About Accountor Software

Accountor Software specialises in software for financial and HR management. It is driven by empowering Nordic businesses to thrive with innovative solutions that make work more efficient and effortless. ​Accountor Software is a participant of the UN’s Global Compact and adheres to its principles-based approach to responsible business. The group employs about 700 experts and its headquarters is in Espoo, Finland. ​

​About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

 

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Agicap raises €45m in Series C round

AXA

Agicap, the all-in-one treasury management platform, announces €45m Series C funding round led by AVP

Press release, LYON – November, 12, 2024

The round led by AVP will enable Agicap to further consolidate its leadership position in Europe as it scales to become the global reference in the midmarket treasury management space.

Agicap is pleased to announce a €45m Series C funding round led by AVP.

Since its inception, Agicap has emerged as the leading treasury management platform for SMB and midmarket companies, the driving force of our economy. Agicap provides the C-suite and finance teams with flexible and real-time visibility into current, historical and projected cash flow data, alongside a comprehensive, end-to-end suite of treasury management tools.

Cash management and forecasting have become top priorities for CFOs navigating increasingly uncertain macroeconomic conditions. Yet, Agicap’s recent survey (in partnership with Innofact) of 500 European CFOs revealed that 80% of midmarket firms still rely on Excel-based processes to manage and forecast their cash positions – a manual, time-consuming task with only 41% conducting long-term cash forecasts.

“In today’s economic conditions, the importance of cash management is paramount. Mid-market organizations have reached a level of complexity that makes it challenging for them to properly manage and optimize their cash strategy, given the need to track countless incoming and outgoing cash flows across multiple entities with numerous bank accounts and currencies. Agicap automates this entire process, offering critical insights in just minutes.”
Clément Mauguet, Co-founder & Chief Expansion Officer, Agicap

Agicap empowers more than 8,000 companies by simplifying the consolidation of cash flow data through unique and direct bank connectivity (via local protocols, an extensive network of real-time APIs and Swift) as well as integration with ERPs, finance and other business enablement tools. The platform also offers actionable levers to improve cash performance and simplify liquidity management with optimized payment strategies, customer collections, debt and investment management, spend management and more.

“Midmarket companies lose an average of €450k annually on overdraft fees and financial income due to inefficient cash management. Agicap’s purpose is to bring this figure close to zero.”
Sébastien Beyet, Co-founder & CEO, Agicap

Since its Series B funding in 2021, led by GreenOaks Capital, Agicap has increased its revenue by 7x and solidified its leadership position in Europe by expanding into 4 regions (DACH, Italy, UK & Ireland, Spain), while demonstrating strong efficiency, with the company projected to generate positive cash flow in Europe by beginning of 2025. Agicap has also enhanced its Treasury Management System with new product offerings (such as accounts payable automation, accounts receivable automation and spend management) designed to serve larger midmarket customers as the company scales upmarket.

Agicap will use the Series C funds to continue investing in its product, people, and growth initiatives. The transaction proceeds will support efforts to:

  • Consolidate its leadership in Europe by expanding sales and customer success teams, especially outside of France (other countries already account for >50% of total revenue)
  • Double down on product depth and capabilities by reinforcing its software & organization to better address the unique needs of midmarket firms across the product suite (e.g., FX risk and credit management modules)
  • Strengthen its go-to-market strategy by expanding indirect channels, through the network of treasury partners and system integrators

AVP is excited to support Agicap in its next phase of growth as the lead investor in its Series C round. This marks the first European investment from AVP’s newly created €1.5bn late-stage fund, a vehicle dedicated to supporting high-potential technology scale-ups in Europe and the US.

“We are thrilled to invest in the exceptional team at Agicap as they continue on their path to become the next generation global Treasury Management System. Agicap has the best-in-class technology, deepest product offering with the highest accuracy. We were thoroughly impressed by the product-driven culture, strong customer references, rapid growth and seamless ability to scale in different markets. We look forward to being a long-term partner of Agicap as they continue on their global expansion journey.”
Warda Shaheen, General Partner, AVP

About Agicap

Founded in 2016, Agicap is at the forefront of cash management innovation, with a next-gen treasury management solution integrating Banking & ERP connectivity, Cash Management, Liquidity Planning, Accounts Receivable, Accounts Payable and Spend Management. With over 8,000 clients across Europe, Agicap continues to empower businesses to achieve operational excellence and maintain a culture of cash performance. Learn more at www.agicap.com/en/.
Contact: Bertrand Salord, Chief Marketing Officer (bertrand.salord@agicap.com)

About AVP

AVP is a global venture capital firm specializing in high-growth, technology-enabled companies, managing more than $2 billion in assets across four investment strategies: Venture, Growth, Late Growth, and Fund of Funds. Since its establishment in 2016, AVP has invested in more than 60 technology companies in Venture and Growth stages in the US and Europe. With offices in New York, London, and Paris, AVP supports companies in expanding internationally and provides portfolio companies with tailored business development opportunities to further accelerate their growth. For more information about AVP, please visit www.axavp.com.

Contact: Sébastien Loubry, Partner Business development (sebastien@axavp.com)

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Serent Capital Announces Acquisition of Landscape Management Network (LMN) by SingleOps

Serent Capital, a growth-focused private equity firm that invests in founder-led B2B SaaS and technology companies, announced that its portfolio company, Landscape Management Network (LMN), a premier provider of business management software for the landscape industry, has been acquired by SingleOps, a leader in business management solutions for green industry service providers.

Founded in 2009, LMN provides a comprehensive software suite that helps landscaping and snow management businesses streamline operations and drive growth. With Serent Capital’s 2020 investment, LMN expanded its product offerings and market position across North America through strategic initiatives, including enhanced go-to-market strategies and product innovation. Notably, LMN acquired SLICE Technologies to bolster its business management solutions and Greenius training software to enhance training offerings for industry professionals.

“Partnering with the LMN team and supporting their growth journey has been highly rewarding,” said Lance Fenton, Partner at Serent Capital. “Through go-to-market expansion, product innovation, and strategic acquisitions, LMN has solidified its leadership in the market. We look forward to their continued success.”

The merger will enable SingleOps and LMN to better serve the evolving needs of the green industry, extending their reach and impact across North America.

Serent Capital has a strong track record of investing in field services technology companies, having partnered with over a dozen innovative businesses in this space to help them scale and succeed. For more information about Serent Capital’s investments, visit serentcapital.com.

Serent Capital invests in growing businesses that have developed compelling solutions that address their customers’ needs. As those businesses grow and evolve, the opportunities and challenges that they face change with them. Principals at Serent Capital have firsthand experience at capturing those opportunities and navigating these difficulties through their experiences as CEOs, strategic advisors, and board members to successful growing businesses. By bringing its expertise and capital to bear, Serent seeks to help growing businesses thrive. Learn more about our portfolio companies.

Other News at Serent Capital

At Serent Capital, we work hard to create effective and longstanding growth with all our portfolio companies. Here’s what we’ve been up to recently.

Disclaimer:

This publication is for informational purposes only, and nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy any interest in any investment vehicle managed by Serent Capital or any company in which Serent Capital or its affiliates have invested. An offer or solicitation will be made only through a final private placement memorandum, subscription agreement and other related documents with respect to a particular investment opportunity and will be subject to the terms and conditions contained in such documents, including the qualifications necessary to become an investor. Serent Capital does not utilize its website to provide investment or other advice, and nothing contained herein constitutes a comprehensive or complete statement of the matters discussed or the law relating thereto. Information provided reflects Serent Capital’s views as of a particular time and are subject to change without notice. You should obtain relevant and specific professional advice before making any investment decision.
Executive endorsements of Serent Capital are for illustrative purposes, designed to attract business development contacts, and should not be construed as a client or investor testimonial of Serent Capital’s investment advisory services. All such endorsements are from current or former portfolio company leadership about Serent Capital’s ability to provide services to their companies. Certain executives are also investors in Serent Capital’s investment vehicle(s), and as such, there is an inherent conflict in that those executives have an incentive to provide favorable reviews of Serent Capital’s business practices for the benefit of the investment vehicles that they hold a personal ownership interest in. Serent Capital has not, directly or indirectly, paid any compensation to such individuals for their endorsements.
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Teamfront Expands its Portfolio of Field Services Software Companies with the Acquisition of Floorzap

Mainsail partners

This acquisition bolsters Teamfront’s mission to empower field service businesses with innovative technology

Austin, TX – November 4, 2024 – Teamfront, a strategic partner for founder-owned field services software companies, today announced the acquisition of Floorzap, a leading provider of business management software for the flooring and remodeling industries. This strategic move strengthens Teamfront’s commitment to providing innovative software solutions to the field services industry and underscores its dedication to empowering founder-owned software companies with the tools and best practices they need to succeed in their unique domains.

Developed by flooring industry experts with more than 20 years of experience, Floorzap offers a comprehensive suite of features that streamline the entire flooring business management process. From lead management to job costing, and billing and payment processing to installation, Floorzap provides a seamless and efficient solution that helps flooring businesses increase efficiency, reduce costs, and improve customer service, whether in the store or in the field.

“We’re excited to welcome Floorzap to the Teamfront family, ” said Cameron Darby, CEO of Teamfront. “Their extensive knowledge of the flooring and remodeling industries and their commitment to operational efficiency make them a perfect fit for our portfolio. Together, we’ll offer flooring companies a comprehensive suite of solutions to streamline their operations and help drive growth.”

Mike Saleh, founder of Floorzap, expressed enthusiasm about the partnership with Teamfront, saying “This acquisition will provide Floorzap with the resources and strategic support needed to continue our mission of helping flooring and remodeling businesses work smarter and grow faster and more profitably.”

The acquisition of Floorzap marks a significant milestone for Teamfront as it continues to expand its portfolio of vertical software companies. Teamfront’s comprehensive solutions automate fundamental back-office tasks, streamline and optimize payments, drive growth through powerful marketing websites and services, and boost loyalty through effective customer communications. Teamfront has become a trusted partner for bootstrapped, founder-owned companies seeking support for operational efficiency and growth.

About Teamfront
Founded in 2023 and headquartered in Austin, TX, Teamfront is a strategic partner to founder-owned software companies that are market leaders in the field services industry. Our team, comprised of seasoned executives in vertical SaaS, provides holistic operational support, playbooks, and best practices that enable our Team Cos to achieve their visions. Our commitment is to empower software companies to thrive and succeed in their unique domains. Together, we aim to thrive on this journey of growth. Learn more at www.teamfront.com.

About Floorzap
Floorzap is a leading provider of flooring business management software designed to streamline operations and drive growth for flooring companies. With a comprehensive suite of features, Floorzap helps businesses manage inventory, track sales, manage projects, and improve customer relationships, ultimately increasing efficiency and profitability. Learn more at www.floorzap.com.

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Rivean Capital acquires Perbility, one of the leading HCM software providers in Germany

Rivean
  • One of the leading providers of comprehensive and cloud-native human capital management (HCM) software
  • Strong positioning across German (semi-)regulated and B2B sectors

22 October 2024

Frankfurt/Bamberg – Rivean Capital, a leading European private equity investor, has signed an agreement to acquire a majority stake in Perbility Holding GmbH, one of the leading HCM software providers in Germany. The transaction marks another significant platform investment by Rivean Capital in the technology and software sector. Together with Perbility’s current management team, Rivean Capital will acquire the shares from the existing majority shareholder Main Capital Partners.

Perbility’s comprehensive HCM suite – the HELIX platform – covers the entire HCM value chain, including talent acquisition, core HR, organizational planning, talent management, employee experience and engagement, and administrative digitization. The company serves more than 1,500 customers, with notable customer references in the financial services sector, the (semi-)public and B2B sectors. Perbility is expected to reach EUR 29 million revenue in 2024, having developed itself into a “Rule of 50” company. Headquartered in Bamberg, the company employs approximately 160 full-time employees across six offices in Germany and a nearshoring center in Turkey.

“Under Main Capital Partners’ ownership, Perbility has shown an impressive growth trajectory, supported by strategic initiatives and a track record in M&A. As next strategic partner, Rivean Capital will support Perbility with expertise and further investments to continue its clear growth strategy. Together, we will strengthen Perbility’s market position in the German-speaking region and further enhance its suite offering through additional strategic add-on acquisitions,” says Matthias Wilcken, Senior Partner at Rivean Capital.

Andreas Meck, founder and CEO of Perbility, will maintain his current position and make a substantial reinvestment in the company. The broader management team will also invest alongside him in the future development of the company.

“We are pleased to have Rivean Capital as a strong and experienced partner by our side, who will support us with capital and strategic expertise to achieve our growth ambitions. With this partnership, we are well-positioned to further expand our market position and attract new customers”, says Andreas Meck, founder and CEO of Perbility.

Next phase of growth and expansion

The new partnership with Rivean Capital will enable Perbility to accelerate its up- and cross-selling efforts across its existing customer base, while further expanding the HELIX platform with new modules. Under Rivean Capital’s ownership, Perbility plans to strengthen its organizational capabilities, and further strengthen its sales team, which will enable the company to expand its reach in the (semi-)public and B2B markets and pursue geographic expansion within the DACH region – also via additional strategic add-on acquisitions.

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About Rivean Capital
Rivean Capital is a leading European private equity investor for mid-market transactions, active in the DACH region, the Benelux countries, and Italy. Funds advised by Rivean Capital manage over EUR 5 billion in assets. Since its inception in 1982, Rivean has supported more than 250 companies in realizing their growth ambitions and has a strong track record of supporting and scaling successful high-tech businesses with cross-border growth agendas, including footprint expansions and operational excellence trajectories. Headquartered in Amsterdam, Netherlands, Rivean Capital also has offices in Brussels, Frankfurt/Main, Milan, and Zug, enabling a strong local presence across key European markets.

About Perbility
Perbility is a software provider of cloud-based HR software solutions, founded in 2009 and headquartered in Bamberg, Germany. The company specializes in delivering flexible and intuitive tools that help organizations digitize their HR workflows and enhance operational efficiency. Perbility’s comprehensive suite covers the HCM value chain, including talent acquisition, core HR, organizational planning, talent management, employee experience and engagement, and administrative digitization. With a diverse customer base of over 1,500 clients, primarily in the German mid-market, and a dedicated team of approximately 160 full-time employees, Perbility is committed to empowering organizations to optimize their HR processes and drive workforce success.

About Main Capital Partners
Main Capital Partners is a leading software investor in the Benelux, DACH, the Nordics, and the United States with approximately EUR 6 billion in assets under management. Main has over 20 years of experience in strengthening software companies and works closely with the management teams in its portfolio as a strategic partner to achieve profitable growth and larger outstanding software groups. As a leading software investor managing private equity funds active in Northwestern Europe and North America, Main has 75 employees operating out of its offices in The Hague, Düsseldorf, Stockholm, Antwerp, and an affiliated office in Boston.

Media contact Rivean Capital
Susanne Jahrreiss / Ralf Geissler
Jahrreiss Communications
Tel.: +49 89 30 90 52 950
E-mail: welcome@jahrreiss.com

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