Tag Archives: Software

CapMan Growth invests in fast growing financial management software company Fennoa

Capman

CapMan Growth invests in fast growing financial management software company Fennoa

CapMan Growth invests in fast growing software company Fennoa which develops and provides cloud-based financial management software. During the last few years, the company’s revenue and profitability has increased tenfold.

In addition to CapMan Growth, Finnish pension insurance company Ilmarinen also invests in the company. The company’s current CEO and founding partner Mikko Kalliovaara as well as the company’s CTO and founding partner Lasse Elfving continue in their current positions and as significant majority shareholders.

Fennoa develops and sells cloud-based financial administration solution used by accounting firms and their customers. The company, founded in 2014, employs 32 people and serves about 500 accounting firms including tens of thousands of their customer companies.

Since its foundation, Fennoa has grown at an exponential pace; throughout the last three years the company has grown at a compound annual growth rate exceeding 100%. The growth has first and foremost been driven by the high quality solution which the company develops continuously. The solution offers, amongst other things, the most highly developed automation of financial administration workflow and processes. In a survey conducted by the Finnish Financial Administration Association, Fennoa consistently received top scores, including the highest NPS-score.

”We are very excited about the opportunity to partner up with the Fennoa team and continue building the company’s future growth. The team has already built a first-class solution by focusing on the customer and end-user. This is reflected in customer feedback as well as in the company’s fast growth,” says Heikki Juntti, Partner at CapMan Growth.

”We are happy to have CapMan and Ilmarinen join us on the next stages of our growth journey. They are strong Finnish investment partners who support Fennoa’s growth towards a market leader positioning in the ongoing digital disruption of the financial administration industry. For us and our customers it is especially important that we can continue our growth as an independent company in line with our values,” comments Mikko Kalliovaara, CEO at Fennoa.

For more information, please contact:

Heikki Juntti, Partner, CapMan Growth, +358 40 556 8899

Mikko Kalliovaara, Founder and CEO, Fennoa Oy, +358 40 763 6347

CapMan Growth is a leading Nordic growth investor making significant minority investments in companies targeting strong growth and internationalisation. CapMan Growth is part of CapMan, a leading Nordic private asset expert with an active approach to value creation. As one of the private equity pioneers in the Nordics we have built value in unlisted businesses, real estate, and infrastructure for over three decades. With over €4.8 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. CapMan has been listed on the Nasdaq Helsinki since 2001. Read more at growth.capman.com and www.capman.com.

Fennoa is a Finnish company founded in 2014 that develops and sells cloud based financial administration software for accounting firms and their customers. Over 500 accounting firms already use Fennoa and tens of thousands of companies and communities around Finland utilise their services through them. For more information go to  www.fennoa.com

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Ideagen and ProcessMAP to combine their strengths to create a world-leading health and safety software solution

HG Capital

Ideagen, a trusted name in software solutions for regulated industries, has today announced it has entered into a definitive agreement to acquire ProcessMAP.

“Both organisations share a common purpose, and this provides a compelling opportunity to do more to support the safe hands and quiet voices that protect the world. Adding ProcessMAP into Ideagen’s existing suite of solutions builds on our combined strengths and enhances the ways we support organisations to manage their quality, health, safety and environmental needs.”

Ben Dorks, CEO of Ideagen

Today’s announcement will see ProcessMAP become “ProcessMAP – an Ideagen solution” with customers benefiting from Ideagen’s expertise as a leading regulatory software provider and access to a wider portfolio of solutions including quality, collaboration audit, and risk management. It also provides an opportunity for Ideagen to enhance its health and safety offering to the 10,000 organisations it already supports worldwide.

“The increased importance of strong corporate ESG strategies has prompted our customers to think and act responsibly to ensure safe and ethical practices for employees and customers. By combining with Ideagen, we will create a category leading EHSQ software business, sharing talent, technology, innovation, and geographical reach to expand globally, leveraging each other’s infrastructure and customer base.”

Dave Rath, CEO of ProcessMAP

ProcessMAP’s existing customers are in good company, Ideagen helps the world’s top seven aerospace and defence companies, 15 of the top 20 pharmaceutical companies, nine of the top 10 accounting firms, over 250 hospitals in the UK and US and over 300 aviation organisations globally, to protect their businesses.

“We have, within our global footprint, a diverse mix of large corporations, small, and mid-market customers, whose need for software solutions increase as they grow in size, geographic spread, or place increasing importance on ESG reporting. This combination provides us with an exciting opportunity to support existing and new customers with a best-in-class health and safety solution that is appropriate to their needs and flexible enough to scale as they evolve.”

Ben Dorks, CEO of Ideagen

This will be Ideagen’s second acquisition of 2022 and the fifth since the summer of 2021, as it continues to strengthen its portfolio of software solutions for regulated industries.

Hg, a leading software and services investor, will remain as majority investor in the combined business.

“This is a significant milestone for both businesses and it’s exciting to see such strategic progress so early in our work together. Both Ideagen and ProcessMAP are high quality businesses, with complementary product suites and diversified regional cover across Europe, North America and APAC. Together the business will be better positioned to serve its customers and take advantage of the numerous tailwinds in regulation, compliance and ESG. We are looking forward to further expansion in the coming months.”

Christopher Fielding, Joris Van Gool and Jean-Baptiste Brian, Partners at Hg

The transaction is expected to close in 2022 and is subject to customary closing conditions.

NOTES TO EDITORS

For more information contact Rebecca Watson – Global PR Manager
Rebecca.Watson@ideagen.com or +44 (0)7899 755 636

About Ideagen

Ideagen is a leading provider of global regulatory and compliance software, serving highly regulated industries such as life sciences, healthcare, banking and finance and insurance. Its award-winning portfolio of software solutions support the safe hands that protect organisations, helping to minimise risk, strengthen compliance and keep people safe.

Over 10,000 companies use our solutions to help protect their organisations including over 300 global aviation organisations, nine of the top ten UK accounting firms, seven of the top global aerospace and defence companies and 15 of the top 20 global pharmaceutical companies.

Ideagen is headquartered in the UK, with key hubs in the UK, USA, Australia, Middle East and South East Asia.

About ProcessMAP

ProcessMAP Corporation, a leader in data-intelligence-driven smart environmental, health, and safety (EHS) software solutions, empowers global customers to make informed decisions today for a better tomorrow. Our platform gives customers the ability to automate, aggregate, track, and analyze their business operations to drive their EHS and ESG commitments.  ProcessMAP headquarters are located in Ft. Lauderdale, Florida, with innovation centers across the globe. The company supports customers in over 140 countries.  Visit https://www.processmap.com/ to learn more.

About Hg

Hg is a platform for software and services champions, focused on backing businesses that change how we all do business. Deep technology expertise, complemented by vertical application specialisation and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses.

Hg has funds under management of over $55 billion, with an investment team of over 160 professionals, including a portfolio team of almost 50 operators, providing practical support to help our businesses to realise their growth ambitions. Based in London, Munich, New York, Paris and San Francisco, Hg has a portfolio of over 46 software and technology businesses, worth over $100 billion aggregate enterprise value, with over 80,000 employees globally, growing at over 20% per year.

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Ideagen and ProcessMAP to combine their strengths to create a world-leading health and safety software solution

HG Capital

Ideagen, a trusted name in software solutions for regulated industries, has today announced it has entered into a definitive agreement to acquire ProcessMAP.

“Both organisations share a common purpose, and this provides a compelling opportunity to do more to support the safe hands and quiet voices that protect the world. Adding ProcessMAP into Ideagen’s existing suite of solutions builds on our combined strengths and enhances the ways we support organisations to manage their quality, health, safety and environmental needs.”

Ben Dorks, CEO of Ideagen

Today’s announcement will see ProcessMAP become “ProcessMAP – an Ideagen solution” with customers benefiting from Ideagen’s expertise as a leading regulatory software provider and access to a wider portfolio of solutions including quality, collaboration audit, and risk management. It also provides an opportunity for Ideagen to enhance its health and safety offering to the 10,000 organisations it already supports worldwide.

“The increased importance of strong corporate ESG strategies has prompted our customers to think and act responsibly to ensure safe and ethical practices for employees and customers. By combining with Ideagen, we will create a category leading EHSQ software business, sharing talent, technology, innovation, and geographical reach to expand globally, leveraging each other’s infrastructure and customer base.”

Dave Rath, CEO of ProcessMAP

ProcessMAP’s existing customers are in good company, Ideagen helps the world’s top seven aerospace and defence companies, 15 of the top 20 pharmaceutical companies, nine of the top 10 accounting firms, over 250 hospitals in the UK and US and over 300 aviation organisations globally, to protect their businesses.

“We have, within our global footprint, a diverse mix of large corporations, small, and mid-market customers, whose need for software solutions increase as they grow in size, geographic spread, or place increasing importance on ESG reporting. This combination provides us with an exciting opportunity to support existing and new customers with a best-in-class health and safety solution that is appropriate to their needs and flexible enough to scale as they evolve.”

Ben Dorks, CEO of Ideagen

This will be Ideagen’s second acquisition of 2022 and the fifth since the summer of 2021, as it continues to strengthen its portfolio of software solutions for regulated industries.

Hg, a leading software and services investor, will remain as majority investor in the combined business.

“This is a significant milestone for both businesses and it’s exciting to see such strategic progress so early in our work together. Both Ideagen and ProcessMAP are high quality businesses, with complementary product suites and diversified regional cover across Europe, North America and APAC. Together the business will be better positioned to serve its customers and take advantage of the numerous tailwinds in regulation, compliance and ESG. We are looking forward to further expansion in the coming months.”

Christopher Fielding, Joris Van Gool and Jean-Baptiste Brian, Partners at Hg

The transaction is expected to close in 2022 and is subject to customary closing conditions.

NOTES TO EDITORS

For more information contact Rebecca Watson – Global PR Manager
Rebecca.Watson@ideagen.com or +44 (0)7899 755 636

About Ideagen

Ideagen is a leading provider of global regulatory and compliance software, serving highly regulated industries such as life sciences, healthcare, banking and finance and insurance. Its award-winning portfolio of software solutions support the safe hands that protect organisations, helping to minimise risk, strengthen compliance and keep people safe.

Over 10,000 companies use our solutions to help protect their organisations including over 300 global aviation organisations, nine of the top ten UK accounting firms, seven of the top global aerospace and defence companies and 15 of the top 20 global pharmaceutical companies.

Ideagen is headquartered in the UK, with key hubs in the UK, USA, Australia, Middle East and South East Asia.

About ProcessMAP

ProcessMAP Corporation, a leader in data-intelligence-driven smart environmental, health, and safety (EHS) software solutions, empowers global customers to make informed decisions today for a better tomorrow. Our platform gives customers the ability to automate, aggregate, track, and analyze their business operations to drive their EHS and ESG commitments.  ProcessMAP headquarters are located in Ft. Lauderdale, Florida, with innovation centers across the globe. The company supports customers in over 140 countries.  Visit https://www.processmap.com/ to learn more.

About Hg

Hg is a platform for software and services champions, focused on backing businesses that change how we all do business. Deep technology expertise, complemented by vertical application specialisation and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses.

Hg has funds under management of over $55 billion, with an investment team of over 160 professionals, including a portfolio team of almost 50 operators, providing practical support to help our businesses to realise their growth ambitions. Based in London, Munich, New York, Paris and San Francisco, Hg has a portfolio of over 46 software and technology businesses, worth over $100 billion aggregate enterprise value, with over 80,000 employees globally, growing at over 20% per year.

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IK Partners invests in Remazing

IK Partners

IK Partners (“IK”) is pleased to announce that the IK Small Cap III Fund has acquired a significant minority stake in Remazing GmbH (“Remazing” or “the Company”), a leading marketing services and software provider focussing on the Amazon marketplace. IK is investing from its dedicated pool of Development Capital, acquiring its stake from the founders who are reinvesting alongside IK.

Remazing was founded in 2016 by Hannes Detjen and Emil Beck and was developed to serve the growing demand from consumer brands to market their products directly on Amazon. Today, the Company is the largest independent provider in the market, serving over 100 corporate clients globally and employing over 100 e-commerce experts who are based in its headquarters in Hamburg and across local hubs in Barcelona, London, Paris and Turin.

With Amazon broadening its market reach across product segments and geographies in recent years, Remazing developed a full-service offering around content creation, management and monitoring supported by Remdash, its own proprietary software. The Company supports a range of brands selling products across the Beauty & Health, Household & DIY, Sports and Baby segments, counting leading companies such as Henkel, Under Armour and Tonies among its clients.

IK has acquired a significant minority stake in Remazing with Hannes, Emil and Managing Director Filip Egert and Chief Technology Officer Timo Helken reinvesting alongside. With IK’s support, Remazing plans to grow through: strengthening partnerships with existing clients and acquiring new ones, increasing market penetration, developing its technology offering further and expanding into other marketplaces. Additionally, the Company aims to build its presence globally through the execution of a selective M&A strategy.

Hannes Detjen and Emil Beck, Co-Founders and Managing Directors of Remazing, commented: “We are excited to embark on a new stage of development with IK. For the last six years we have been on an incredible journey as we turned our ideas into reality and developed a compelling proposition which helps our clients increase their sales online. The time has now come to welcome external investment to help us turbocharge our own growth and cement our position globally.”

Ingmar Bär, Director at IK Partners and Advisor to the IK Small Cap III Fund, said: “Hannes and Emil have achieved a huge amount in building Remazing with their ambitious team and establishing it as one of Europe’s leading Amazon-focused, tech-enabled marketing services firms. With the ongoing growth of the Amazon ecosystem and growing professionalisation of marketing across online platforms, we see huge potential in partnering with the Remazing team to develop the Company into a leading global player.”

For further questions, please contact:

IK Partners
Vidya Verlkumar
Phone: +44 (0) 7787 558 193
vidya.verlkumar@ikpartners.com

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Tesi becomes a shareholder in software startup Rentle

Tesi

Tesi has converted its convertible loan, made under the Venture Bridge special investment programme that closed for initial investments in March 2022,  into shares of Rentle. Tesi thus became an owner in the company.

Rentle is a Finnish startup that provides the digital infrastructure for consumer rental businesses to set up and run their business.

In the recent seed funding round, the company raised some EUR 4 million in growth funding. Tesi  participated in the round by converting its convertible loan into Rentle’s shares per previously agreed conditions under the Venture Bridge programme.

Additional information:

Samppa Sirviö, Investment Manager, Venture Capital Investments
samppa.sirvio@tesi.fi
+358 50 518 6063

Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise Finland to the front ranks of transformative economic growth by investing in funds and directly in companies. We invest profitably and responsibly, together with co-investors, to create the world’s new success stories. Our investments under management total 2.4 billion euros.  www.tesi.fi | @TesiFII

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Latour acquires MAXAGV

Latour logo
2022-09-01 15:00

Investment AB Latour has, through its wholly-owned subsidiary Latour Industries AB, acquired MAXAGV from the founders and management.

MAXAGV is a leading mobile robotics and software company providing automation technology for goods handling solutions with headquarter in Mölndal, Sweden, and 67 employees. Net sales amounts to approximately SEK 160 m, of which the vast majority is exported.

“We are pleased with the acquisition and convinced that MAXAGV is well positioned for continued global growth, driven by the strong growth in industry automatization. We are very happy to welcome MAXAGV to Latour”, says Björn Lenander, CEO of Latour Industries.

“I am delighted to see Latour Industries as our new owner. Latour is a long-term industrial owner that can support MAXAGV’s plan for continued international expansion”, says Erling Wessberg, CEO of MAXAGV.

As an effect of the acquisition the net debt of the Latour Group increases with about SEK 0.2 billion.

Göteborg, September 1, 2022

INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO

For further information, please contact:
Björn Lenander, CEO Latour Industries AB, +46 708 19 47 36
Gustav Samuelsson, Investment Director Investment AB Latour, +46 735 52 55 59

Latour Industries consists of a number of operating areas, each with its own business concept and business model. The ambition is to develop independent entities within the business area which can eventually become new business areas within the Latour Group. Latour Industries has an annual turnover of SEK 3 billion.

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of ten substantial holdings with a market value of about SEK 66 billion. The wholly-owned industrial operations has an annual turnover of SEK 20 billion.

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Sigmax chooses for growth acceleration with investor Quadrum Capital

Quadrum Capital

Enschede, June 25th – Sigmax has been providing successful software solutions for 24 years with a strong focus in recent years on safe and livable cities, public transport and service organisations. With a leading market position in various domains, Sigmax wants to continue to develop at the highest level. From June 2022, the organisation has chosen to cooperate with Quadrum Capital, an independent investment company that helps companies grow responsibly by contributing its network, capital and management experience.

image

Sigmax, Enschede

Leo van den Ende, CEO and co-founder of Sigmax: “The strength of this partnership allows us to make our solutions functionally broader and richer. By further investing in our knowledge and people, we are responding to the increasing demand for digitisation and growing scarcity of tech professionals”.

Potential for strong international position

Ingeborg Schepers, investment director at Quadrum Capital: “Sigmax creates complex software solutions for social issues and has the potential to take up a strong international position. From a solid basis, we are continuing to build an extremely reliable technology organisation that can continue to provide its European customers with high-quality software products and services thanks to highly motivated and experienced professionals”.

Confidence for the future

In 2019, Sigmax and Quadrum Capital successfully worked together on the corporatisation of Exite ICT, Sigmax’s former ICT division. From this positive experience, they look to the future with confidence. Van den Ende: “Quadrum Capital shares our entrepreneurial mentality, commitment and Twente roots. We are excited to work with them in this next phase of international growth”.

Building further from Kennispark Enschede

Sigmax will realise its international growth ambitions from its headquarters at Kennispark in Enschede. According to Van den Ende, the Kennispark is an important location for attracting highly skilled employees: “Thanks to good connections with Saxion University and the University of Twente, combined with a very attractive residential, working and living environment, Kennispark Enschede offers the best possible basis for further growth for Sigmax”.

About Sigmax Sigmax is an internationally operating software organisation with a focus on safe and liveable cities, public transport and service organisations. Sigmax makes the work of thousands of professionals in these areas easier and processes more efficient on a daily basis. Sigmax’s customer portfolio includes the municipalities of Amsterdam and Antwerp, Dutch Railways and Carglass.

More information: www.sigmax.nl

About Quadrum Capital Quadrum Capital is a nationally operating investment company with an entrepreneurial mindset and strong roots in the Eastern Netherlands. In recent years Quadrum Capital has built up a broad portfolio of participations in various industries, including ICT & Software. As a committed partner, Quadrum Capital focuses on the responsible growth of companies by contributing its network, financial strength and management experience.

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Partners Group to acquire a significant minority stake in VelocityEHS

CVC Capital Partners
  • Partners Group will join existing owner CVC Growth Funds on VelocityEHS’ board
  • The Company’s SaaS products help customers comply with environmental, health, and safety laws and regulations, power sustainability initiatives, and drive operational excellence
  • The EHS and ESG software markets continue to benefit from strong thematic trends such as growing pressure on companies to decarbonise

Partners Group, a leading global private markets firm, has, on behalf of its clients, agreed to acquire a significant minority stake in VelocityEHS (“the Company”), a leading environmental, health, and safety (“EHS”) and environmental, social and governance (“ESG”) software platform based in the US, from CVC Growth Funds (“CVC Growth”). Following the transaction, Partners Group will join CVC Growth on the Company’s board.

Founded in 1996 and headquartered in Chicago, VelocityEHS is a Software-as-a-Service (“SaaS”) platform offering products that help customers comply with a wide range of EHS laws and regulations, manage and reduce risk, and improve operational efficiency. VelocityEHS offers EHS software solutions that help customers across various use cases, including ESG management, Environmental Compliance, Safety, Ergonomics, Control of Work, Operational Risk, and Health. The Company has over 18,000 customers, with a focus on serving the manufacturing, food & beverage, pharmaceuticals, and chemicals sectors. The EHS/ESG software market is benefitting from strong thematic trends such as growing pressure on companies to decarbonise and disclose environmental sustainability information, as well as an increasingly complex regulatory environment. CVC Growth acquired VelocityEHS in 2017.

Following the investment, Partners Group and CVC Growth will work with the Company’s management team to continue to drive growth at VelocityEHS and cement its position as a leading player in the EHS and ESG software market worldwide. Key transformational value creation initiatives will include accelerating the growth of the Company’s ESG product, expanding into international markets, developing new products, and pursuing strategic acquisitions.

John Damgaard, Chief Executive Officer, VelocityEHS, comments: “EHS/ESG software adoption in the US and around the world is rising as organisations seek operational excellence and sustainable operations. Our massive customer base includes some of the world’s most admired companies. Our enterprise-grade VelocityEHS Accelerate® platform with embedded ActiveEHS® technology, and our award-winning solution set, allow us to have a very real impact in making workplaces safer and more sustainable up and down supply chains worldwide. We are very excited to continue our journey to establish the global category leader in EHS/ESG software with two world-class global financial sponsors in CVC Growth and Partners Group.”

Chris Russell, Managing Director, Private Equity, Technology Industry Vertical, Partners Group, says: “Our thematic research identified EHS as an attractive sub-sector of the US software market due to its large size, strong secular growth trends, and fragmented landscape. VelocityEHS is a market-leading SaaS platform in this space, with a comprehensive product portfolio, and we have strong conviction in its future prospects. We look forward to working with management and our partners at CVC on scaling VelocityEHS further and executing on the value creation plan.”

Aaron Dupuis, Partner at CVC, adds: “We are proud of the fantastic progress VelocityEHS has made since we invested in 2017. Working in close partnership with John and his team, we have been able to significantly accelerate the Company’s development both organically and through acquisition. We have enhanced the Company’s leading market position and expanded its addressable markets through new product launches and geographic expansion. We know Partners Group well and are very pleased to bring them on board and look forward to working closely with them to realise this next stage of growth for VelocityEHS.”

Partners Group was advised by Ropes & Gray LLP and Price WaterhouseCoopers LLP; CVC Growth by Weil, Gotshal & Manges LLP and William Blair; and VelocityEHS by Burns & Levinson, LLP.

Quotes

We know Partners Group well and are very pleased to bring them on board and look forward to working closely with them to realise this next stage of growth for VelocityEHS.

Aaron Dupuis Partner, CVC Growth

Aaron Dupuis, Partner at CVC, adds: “We are proud of the fantastic progress VelocityEHS has made since we invested in 2017. Working in close partnership with John and his team, we have been able to significantly accelerate the Company’s development both organically and through acquisition. We have enhanced the Company’s leading market position and expanded its addressable markets through new product launches and geographic expansion. We know Partners Group well and are very pleased to bring them on board and look forward to working closely with them to realise this next stage of growth for VelocityEHS.”

Partners Group was advised by Ropes & Gray LLP and Price WaterhouseCoopers LLP; CVC Growth by Weil, Gotshal & Manges LLP and William Blair; and VelocityEHS by Burns & Levinson, LLP.

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Partners Group to acquire a significant minority stake in VelocityEHS, a leading environmental, health, safety, and sustainability software platform

Partners Group

Denver, US; 16 August 2022

  • Partners Group will join existing owner CVC Growth Funds on VelocityEHS’ board
  • The Company’s SaaS products help customers comply with environmental, health, and safety laws and regulations, power sustainability initiatives, and drive operational excellence
  • The EHS and ESG software markets continue to benefit from strong thematic trends such as growing pressure on companies to decarbonize

Partners Group, a leading global private markets firm, has, on behalf of its clients, agreed to acquire a significant minority stake in VelocityEHS (“the Company”), a leading environmental, health, and safety (“EHS”) and environmental, social and governance (“ESG “) software platform based in the US, from CVC Growth Funds (“CVC Growth”). Following the transaction, Partners Group will join CVC Growth on the Company’s board.

Founded in 1996 and headquartered in Chicago, VelocityEHS is a Software-as-a-Service (“SaaS”) platform offering products that help customers comply with a wide range of EHS laws and regulations, manage and reduce risk, and improve operational efficiency. VelocityEHS offers EHS software solutions that help customers across various use cases, including ESG management, Environmental Compliance, Safety, Ergonomics, Control of Work, Operational Risk, and Health. The Company has over 18,000 customers, with a focus on serving the manufacturing, food & beverage, pharmaceuticals, and chemicals sectors. The EHS/ESG software market is benefitting from strong thematic trends such as growing pressure on companies to decarbonize and disclose environmental sustainability information, as well as an increasingly complex regulatory environment. CVC Growth acquired VelocityEHS in 2017.

Following the investment, Partners Group and CVC Growth will work with the Company’s management team to continue to drive growth at VelocityEHS and cement its position as a leading player in the EHS and ESG software market worldwide. Key transformational value creation initiatives will include accelerating the growth of the Company’s ESG product, expanding into international markets, developing new products, and pursuing strategic acquisitions.

John Damgaard, Chief Executive Officer, VelocityEHS, comments: “EHS/ESG software adoption in the US and around the world is rising as organizations seek operational excellence and sustainable operations. Our massive customer base includes some of the world’s most admired companies. Our enterprise-grade VelocityEHS Accelerate® platform with embedded ActiveEHS® technology, and our award-winning solution set, allow us to have a very real impact in making workplaces safer and more sustainable up and down supply chains worldwide. We are very excited to continue our journey to establish the global category leader in EHS/ESG software with two world-class global financial sponsors in CVC Growth and Partners Group.”

Chris Russell, Managing Director, Private Equity, Technology Industry Vertical, Partners Group, says: “Our thematic research identified EHS as an attractive sub-sector of the US software market due to its large size, strong secular growth trends, and fragmented landscape. VelocityEHS is a market-leading SaaS platform in this space, with a comprehensive product portfolio, and we have strong conviction in its future prospects. We look forward to working with management and our partners at CVC on scaling VelocityEHS further and executing on the value creation plan.”

Aaron Dupuis, Partner at CVC, adds: “We are proud of the fantastic progress VelocityEHS has made since we invested in 2017. Working in close partnership with John and his team, we have been able to significantly accelerate the Company’s development both organically and through acquisition. We have enhanced the Company’s leading market position and expanded its addressable markets through new product launches and geographic expansion. We know Partners Group well and are very pleased to bring them on board and look forward to working closely with them to realize this next stage of growth for VelocityEHS.”

Partners Group was advised by Ropes & Gray LLP and Price WaterhouseCoopers LLP; CVC Growth by Weil, Gotshal & Manges LLP and William Blair; and VelocityEHS by Burns & Levinson, LLP.

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Oakley Capital agrees strategic combination of Grupo Primavera with Cegid

Oakley

Oakley Capital (“Oakley”) is pleased to announce that Oakley Capital Fund III (“Fund III”) has agreed the strategic combination of Grupo Primavera, the leading business software provider in Iberia, with Cegid, a leading provider of cloud-based management solutions.

Grupo Primavera News 2

As part of the transaction, Fund III will increase its stake in Grupo Primavera and roll over its equity into Cegid. The all-share transaction values the combined company at approximately €6.8 billion.

Oakley acquired Ekon as a standalone platform in 2019, and assembled a group management team to lead an intensive buy and build strategy. With that team Oakley acquired 11 further companies, including the transformative acquisition of Primavera in 2021, to form the newly enlarged Grupo Primavera.

Through acquisitions as well as investment in product innovation and talent, Grupo Primavera has performed well ahead of its business plan, becoming Iberia’s largest software platform in just three years.

Icons8 User Groups

Grupo Primavera has 800 employees based in five countries

Icons8 Receive Cash

Serves 165k paying customers

Icons8 Sales Performance

Delivered €76 million of revenue in 2021

Grupo Primavera

Today, Grupo Primavera has 800 employees based in five countries, serves 165,000 paying customers, and delivered €76 million of revenue in 2021.

The company offers a wide range of cloud-based software solutions covering Invoicing, Accounting, and Enterprise Resource Planning (ERP). These offerings serve small businesses and mid-market segments across Spain, Portugal, and Africa, with a particularly strong footprint among accounting professionals. Together, Grupo Primavera and Cegid will have pro forma revenue in the Iberia region of more than €150 million this year.

Quote Santiago Solanas

We are strongly aligned with Cegid’s vision and ambition and have long admired the company. Like Cegid, we have an entrepreneurial and passionate culture with a focus on product excellence, a commitment to customers, and an exciting vision for growth. This is a powerful partnership that will allow us to combine resources and expertise, bringing customers new products and continued innovation, as well as building on our proven track record to expand and integrate new talent and approaches to market needs. Both Cegid and Grupo Primavera share a mission to grow our ecosystem and to offer our combined customers, channel partners, colleagues, and communities renewed value.

Santiago Solanas

CEO — Grupo Primavera

Quote Peter Dubens

In partnership with Oakley, Grupo Primavera has grown to become a leading player in the Iberian market for business software. Now under the stewardship of both highly experienced management teams and committed shareholders, Cegid and Grupo Primavera are poised to accelerate a global growth strategy with a focus on market expansion and cross sell opportunities. We look forward to being a part of this new chapter for both companies and the significant potential that lies ahead.

Peter Dubens

Managing Partner — Oakley Capital

Cegid

Cegid is a global leading provider of cloud business management solutions for finance (treasury, tax, ERP), human resources (payroll, talent management), CPAs, retail and entrepreneurial sectors.

With 350,000 clients, the business is focused on large and SMB customers, operating in 130 countries across the globe and its installed base is already close to fully migrated to Cloud. Cegid has a strong track record of double-digit organic growth with a high proportion of recurring revenues, underpinned by the SaaS transition of its customer base and new client acquisitions in the Cloud, and investments in next-generation cloud products.

Joining forces with Grupo Primavera is an immense opportunity for both companies and our respective clients. Like Cegid, Grupo Primavera offers useful and innovative solutions to partners and customers in the cloud, and has achieved impressive growth specifically across Spain, Portugal, and Africa. We share an inspiring vision for the future driven by continuous product and technology innovation, and Cegid is fully committed to investing in the combined company’s continued growth. We look forward to working closely with Santiago and the talented team at Grupo Primavera to bring value to a more global customer base.

Pascal Houillon

CEO — Cegid

The combination of Cegid and Grupo Primavera underscores Cegid’s position as a leading provider of cloud-based management solutions.

The addition of Grupo Primavera firmly establishes Cegid’s leadership in Iberia and offers exciting expansion opportunities for Grupo Primavera by leveraging Cegid’s presence in Latin America.

Upon close, Silver Lake will remain the majority shareholder of the combined company. Oakley Capital will join KKR and AltaOne as minority shareholders in the combined company. Together, these shareholders will partner with Cegid CEO Pascal Houillon, Grupo Primavera CEO Santiago Solanas, and the rest of the management team in Cegid’s next phase of growth.

Through our investment and strategic development executed since 2016, Cegid has become a pan European and global player with strong positions in multiple geographies including France, Spain, and Portugal, with important market presence in 12 other countries and selling in more than 130 countries. We are excited about the growth prospects of the combined group and by the creation of the Iberian market leader in the business software space, reinforcing Cegid’s existing position on a broader global scale. The market for digitisation solutions in the European mid-market, namely through financial management software, is large and growing meaningfully, and the combined company will be uniquely positioned to capitalize on this opportunity as it continues to expand.

Christian Lucas

Co-head — Silver Lake EMEA / Vice-Chairman of the Board of Directors — Cegid

Upon closing of the transaction, Mr. Solanas and his entire management team will join Cegid, with Mr. Solanas reporting directly to Mr. Houillon.

The transaction is expected to close in Q3 2022, and as is customary, remains subject to the information and consultation processes of the relevant employee representative bodies in accordance with applicable laws.

Oakley was advised by Evercore (M&A), PWC (financial & tax), Paul Hastings and Uría Menéndez (legal).

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