Tag Archives: Software

Ardian arranges a financing package to support Stirling Square’s acquisition of Gestión Tributaria Territorial from AnaCap

Ardian

Ardian, a world leading private investment house, today announces it has arranged a financing package comprising a Unitranche Facility, a Committed Acquisition Facility and a PIK tranche to support Stirling Square Capital Partners’ (“Stirling Square”) acquisition of Gestión Tributaria Territorial (“GTT” or “the Company”), a leading Spanish tax software and services provider for the public sector.

AnaCap, who initially acquired the business in 2020, will re-invest as a minority investor alongside Stirling Square and GTT’s management team.

Headquartered in Alicante, Spain, GTT is a leading provider of tax collection and electronic administration software for national, regional and local administrations. Founded in 1998, the Company has a 25-year track record in building proprietary software to modernize public administration processes through technological innovation and digital transformation. As the market leader in Spain, GTT also serves international development organizations in Latin America and has c.4,500 customers globally, providing them with leading technological, organizational and management support solutions tailored to each customer’s specific requirements.

Stirling Square will work closely with the GTT management team to invest in expanding the business’ software platform, further diversifying its suite of products and supporting the long-term growth objectives of the Company, including through strategic acquisitions. The financing package provided by the Private Credit team at Ardian includes a sizeable Committed Acquisition Facility designed to support the Company’s ambitious buy and build strategy.

” We are delighted to support this new chapter of growth of Gestión Tributaria Territorial alongside Stirling Square and AnaCap, and honored to provide our bespoke financing solutions to the Company. We were impressed by GTT’s track record of growth and ability to provide mission-critical services to public administrations both in Spain and internationally, and look forward to supporting the Company’s future development. GTT is our second deal in Spain over the last 12 months, showing growing momentum for the Private Credit team at Ardian in Southern Europe.” Grégory Pernot, Co-Head of Private Credit France and Head of Private Credit Spain, Ardian

” We are thrilled to invest in GTT, a provider of mission-critical software services to the Spanish public sector, with an impressive track-record of developing software to support the digitalisation and increased transparency within the country’s tax system. As high-conviction investors, we are attracted to GTT’s strong market position, growth profile, long-term contracts with customers across the country’s public sector and the opportunity to support the business to enter new European markets. We were convinced by the tailor-made and flexible financing solution offered by Ardian, that will support the Company in its next phase of development. We look forward to the exciting journey ahead, alongside AnaCap and Ardian, and to bringing our sector expertise, local knowledge, pan-European presence and capital, to support GTT’s talented management team.” Enrico Biale, Partner, Stirling Square

PARTICIPANTS

  • PRIVATE CREDIT ARDIAN: GRÉGORY PERNOT, CLÉMENT CHIDIAC, ADÉLAÏDE HOMOLLE

    • FINANCING LEGAL ADVISOR: WHITE & CASE (FERNANDO NAVARRO, ALFONSO GARCIA FREIRE, JUAN SAMPEDRO MARTINEZ) AND WILLKIE FARR & GALLAGHER (PAUL LOMBARD, RALPH UNGER)
    • GESTIÓN TRIBUTARIA TERRITORIAL: CARLOS RICO ALONSO, RICARDO FRANCÉS
    • STIRLING SQUARE CAPITAL PARTNERS: ENRICO BIALE, BEN HOPPER, MANUEL GARI
    • ANACAP: NASSIM CHERCHALI, IÑIGO QUEROL, ALESSANDRO MANFE
    • FINANCING ADVISORS: MARLBOROUGH PARTNERS (PEDRO MANEN DE SOLA-MORALES, FÉLIX FINKLER, MOHAMMED RAHMAN)
    • FINANCING LEGAL ADVISORS: HERBERT SMITH FREEHILLS (ARMANDO GARCIA MENDOZA, CARMEN HERMOSIN, MIGUEL ALVARGONZÁLEZ)

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $160bn of assets on behalf of more than 1,560 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian is majority-owned by its employees and places great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East, are strongly committed to the principles of responsible investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

ardian.com

PRESS CONTACT

ARDIAN

HEADLAND

ardian@headlandconsultancy.com 

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Björn Lundén acquires KYC and AML provider Due Compliance

Main Capital Partners

Björn Lundén, Swedish accounting and financial administration software provider, acquires Stockholm-based Due Compliance AB (“Due Compliance”).

Björn Lundén, Swedish accounting and financial administration software provider, acquires Stockholm-based Due Compliance AB (“Due Compliance”). Due Compliance provides tools for AML, KYC and Risk Assessments. The acquisition will help Björn Lundén expand its presence in the European financial software market. The acquisition was backed by leading European software investor Main Capital Partners.

The acquisition of Due Compliance represents Björn Lundén’s fifth add-on acquisition since Main Capital Partners became a majority investor in July 2021 and enables Björn Lundén to expand the product portfolio to both existing and new customers, further strengthening the group’s position in the Nordics and rest of Europe.

Due Compliance offers comprehensive KYC & AML tools to ensure compliance in easy-to-use solutions integrated into existing ERP and CRM systems. In accordance with current legislation and directives, the products simplify monitoring, screening, and checks for the end customers.Due Compliance services a wide range of end customers’ specific needs with over 300 customers to date.

The market for KYC software is predicted to grow at a CAGR of 21% in the coming seven years, driven by the need for user-friendly cloud-based solutions for management of customer data and the need to navigate an increasingly complex regulatory landscape. Underlying factors driving the market growth include increased regulatory pressure, financial crime, data security needs and the globalization of digital processes.

Wessel Ploegmakers, Partner and Head of Nordics at Main, comments: “Due Compliance represents Björn Lundén’s fifth acquisition of the group. The acquisition marks an important step towards expanding the offering with regulatory driven tools with an improved value proposition for both existing and new customers. We see many opportunities for the Björn Lundén group to continue its growth journey, which includes both inorganic and organic initiatives, to become a European leader offering a full suite of cloud-based accounting, ERP and RegTech solutions.”

Ulf Svensson, CEO at Björn Lundén, adds: “I am pleased to announce the acquisition of Due Compliance, which offers modern and comprehensive software solutions for KYC & AML for accountancy firms, law firms and more. There is an increasing demand for KYC & AML solutions in the accounting industry driven by regulation. With the experience and knowledge of the management of Due Compliance and with this internationally scalable software, we look forward to a very interesting future with fast expansion both in the Nordics and the rest of Europe. ”

Petter Flink, Co-Founder and CEO at Due Compliance, concludes: “We are proud that, in a short period of a few years, we have managed to create and establish a unique and leading tool for AML and KYC controls in accordance with Swedish and European legislation. We have now found in Björn Lundén the ideal partner to take a further step in the development of our company, ourselves and our services for the benefit of even more customers and countries. We look forward with great confidence to realizing our plans and ideas in close symbiosis with Björn Lundén’s strong team and brand.”

We see many opportunities for the Björn Lundén group to continue its growth journey, which includes both inorganic and organic initiatives, to become a European leader offering a full suite of cloud-based accounting, ERP and RegTech solutions.

– Wessel Ploegmakers, Partner and Head of Nordics at Main Capital Partners

About

Björn Lundén

Björn Lundén, founded in 1987, provides accounting and financial software solutions targeted at accountancy firms and SMEs throughout the Nordics and the Benelux market. From its offices across Sweden, Denmark and the Netherlands, the company serves over 60.000 end companies. The company has developed a comprehensive portfolio of solutions and tools for administration, finance, accounting, tax, legal, personnel administration, time, project & expense management and ERP and in addition offers knowledge tools, books and courses in the aforementioned areas. Björn Lundén group has +240 employees today.

Due Compliance

Due Compliance has since 2019 been a provider of tools to make it easier for companies to fulfil their legal obligations according to Money Laundering Legislation (AML) and EU’s various AML directives. The needs and requirements differ between different industries and Due Compliance offer tailor-made, solutions integrated into existing systems for, among others, Lawyers, Law Firms, Accountants, Accounting Consultants, Financial Advisors and Real Estate Agents. Due Compliance has over a short period of time gained a strong position in the Swedish market and currently also growing in Norway.

 

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Apax Funds acquire OCS and Finwave, creating a leading financial software platform

Apax

Funds advised by Apax Partners LLP (“Apax”) completed the acquisition of OCS from Charme Capital Partners and of Finwave from the Lutech Group, creating one of the preeminent players in financial software in Europe. The two companies will continue serving customers under the OCS and Finwave brands.

OCS is a leading consumer-finance digital partner, delivering end-to-end omnichannel software and services in Italy, Spain, and Mexico. OCS supports banks and specialized financial institutions, guiding them through the LendTech revolution, redesigning consumer finance models thanks to deep industry expertise and advanced software capabilities. 

Finwave is a leader in specialized financial software for factoring, leasing, UTP/NPL, post trading and global custody. Finwave has long-term relationships with top-tier financial institutions and credit providers, with a strong focus on the Italian market.

The combination of OCS and Finwave creates a €100 million revenue European financial software platform of scale. Together, OCS and Finwave will leverage their collective expertise and talent to accelerate the development of innovative software solutions to support the evolving needs of financial institutions and operators. As a combined group, OCS and Finwave will be better positioned to serve their customers in Italy and internationally, with a large offering covering consumer finance, corporate finance and capital markets software and solutions.

Gabriele Cipparrone, Partner at Apax, commented: “We’re incredibly excited about this transaction. The combination of OCS and Finwave will create a truly unique, European financial software platform of scale, with huge potential for future growth. We look forward to partnering with both teams to execute on our vision for the combined business, creating a digital-first, future-proof business, and trusted technology partner.”

Gianni Camisa, CEO of OCS, said: “I would like to thank Charme Capital Partners – personally and on behalf of the entire OCS team –  for having been a capable and very professional shareholder and partner to all of us. Under their tenure OCS successfully transitioned to a structured, managerialized company, introducing an experienced management team and reinforcing the existing structure with an extensive hiring plan. Under Charme ownership, OCS grew, implemented a new vision and strategy, expanded internationally, and set ambitious targets in terms of innovation and product development. With Apax we will take a further leap forward. The Apax Funds’ acquisition of OCS and the combination with Finwave marks the beginning of another exciting chapter in our history of supporting Italian financial institutions with their technology needs. As one of the leading software businesses in Europe focused on the retail financial market, this transaction will allow us to continue delivering innovative solutions, as we have done for the past four decades, while empowering us to expand our offering and presence across Europe. Apax, like ourselves, are tech experts with a deep understanding of the power of digital, and I am excited to embark on this journey”.

Willy Burkhardt, CEO of Finwave, said: “This is a great milestone for Finwave. The Apax funds’ strategic plan is to acquire and integrate leading players in the market to create innovative solutions for credit management and capital markets. OCS and Finwave are the leading players in Consumer and Corporate Finance Software. Both companies offer premium technology solutions that provide the foundation for strong future growth. We are starting today with €100 million in revenues and almost 1,000 people highly skilled in financial market software, and we are well positioned to grow in Italy and in Europe.”

About Apax

Apax Partners LLP (“Apax”) is a leading global private equity advisory firm. For over 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $65 billion. The Apax Funds invest in companies across four global sectors of Tech, Services, Healthcare, and Internet/Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For further information about Apax.

Please visit www.apax.com

 

About OCS

Based in Milan, Brescia, Turin, Madrid and Mexico City, OCS is a leading digital partner and software provider in the banking and financial sector. Since 1984, the company has supported the evolution of the market. Today, with a solid experience and deep knowledge of the different processes, OCS works alongside its customers to guide them through the LendTech revolution, redesigning with them the ‘consumer finance’ models thanks to the most advanced modular digital solutions. OCS offers the opportunity to establish stronger relationships with end customers, taking advantage of the introduction of new processes and technologies. In addition to the know-how and the development and integration capabilities, OCS combines expertise and consultancy in compliance with current European regulations and standards.

Please visit www.ocsnet.it/en

 

About Finwave

Finwave represents the evolution and synthesis of the skills and experiences of the prestigious companies Arcares, Liscor, Finance Evolution and CSTTech. This merger has created a unique and dynamic entity, with a turnover of almost 50 million euros, positioning as the primary company in Italy for credit management software and other specific needs of the banking world. Finwave stands out for the ability to meet the needs of all players in the financial market, offering end-to-end platforms and distinctive expertise in several key areas from Factoring to Lending, from Consumer Credit to UTP/NPL, from Bank applications to Wealth Management, from Security Services to Fund management, up to Compliance. Finwave works end-to-end, developing complete application and infrastructure solutions and working with the best technology partners in the market to build an integrated ecosystem which grows and evolves with customers business goals. Finwave knows the specific processes of each industry, and is able to optimize them covering every step, from onboarding and operations right through to regulatory reporting.

Please visit www.finwave.it/en

GLOBAL MEDIA CONTACT

Katarina Sallerfors

t: +44 20 7872 6300

Luke Charalambous

t: +44 20 7872 6300

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Fortino Capital closes 2nd Private Equity fund at €377M

Fortino Capital

Antwerp/Amsterdam/Munich, December 8th, 2023 – Fortino Capital, a European B2B software venture capital and growth equity firm, announces the final closing of its 4th investment fund. Fortino Capital PE II is a €377 million fund dedicated to ambitious B2B software founders across Europe.

To date Fortino has raised across 4 funds, a total of over 800M Euros. It closed its first VC fund in 2016 at 80M, followed by PE I at 242M in 2017 and VC II at 105M in 2021. Fortino Capital has invested in 53 businesses in the past 10 years and has realized 22 exits.

Fortino Capital’s new PE II fund has made 4 investments in software companies including Van Roey (BE), Speak Up (NL), Symbio (DE) and Addactis (FR/BE) and has already realized one early exit. Symbio has recently been acquired by the German software company Celonis. This fund is looking to establish long term partnerships with passionate entrepreneurs who have the ambition to accelerate the scaling of their businesses. In this fund Fortino will typically deploy minimum €10M initial equity tickets in established companies and scale-ups with the following characteristics: B2B SaaS and PaaS applications with a minimum turnover of 5M, being profitable in the core, and headquartered in Europe.

The Software As A Service market is very dynamic, offering lots of opportunity. Multiple forces of change and innovation are at play. As specialists in the domain, Fortino is well equipped to underwrite valuations with insight and bring the operating support to accelerate growth.

Fortino Capital aims to make a positive contribution by leveraging its international network, C-level and entrepreneurial experience and by sharing best practices amongst its portfolio of B2B SaaS companies. It also grants access to its own talent acquisition resources that help its portfolio attract the right talent.

Duco Sickinghe, Executive Chairman of Fortino Capital: “We are pleased to announce at the occasion of our 10th anniversary, that we have successfully closed our second PE fund. We are grateful for the trust and support of so many loyal investors that have extended their commitment to Fortino and we are warmly welcoming our new Belgian, Dutch and German investors.”

Duco Sickinghe, Fortino Capital

Renaat Berckmoes, CEO of Fortino Capital: “This fund will allow us to accompany more founders and management teams on their quest for growth and building better companies. We are targeting investing in at least 15 B2B software platforms across Europe. We have a well filled pipeline and expect to be able announcing some further investments early next year.”

Fortino partner, Renaat Berckmoes

About Fortino Capital

Fortino Capital is a European investment company with a focus on high-growth B2B software solutions managing two private equity growth funds and two venture capital funds. With offices in Belgium, the Netherlands and Germany, Fortino backs exceptional and ambitious entrepreneurs in Europe. Fortino Capital’s private equity growth portfolio includes VanRoey (BE), BizzMine (BE) MobileXpense (BE), Efficy CRM (BE), Tenzinger (NE), SpeakUp (NE), Cenosco (NE), Maxxton (NE), Stardekk (BE) and Bonitasoft (FR). Fortino’s Venture Capital portfolio includes Vaultspeed (BE), Vertuoza (BE), TechWolf (BE), Zaion (FR), Salonkee (LUX), Sides (DE), GetVisibility (IE), Billy Grace (NE), BuyBay (NE), D2X (NE), Peers (DE) and Kosli (NO) among others.

Fortino Capital Partners
T. +32 2 669 10 50
contact@fortinocapital.com

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Sogelink’s Next Growth Chapter backed by Partnership between CVC Capital Partners and Keensight Capital

CVC Capital Partners

CVC Capital Partners (“CVC”), a global private markets manager focused on private equity, secondaries and credit and Keensight Capital (“Keensight”), one of the leading private equity managers dedicated to pan-European Growth Buyout1 investments, are pleased to announce they have entered into an  exclusivity agreement to invest2 together  in Sogelink (“the Company”), a leading European provider of software solutions for infrastructure, construction, and property management professionals.

Founded in 2000 and headquartered in Lyon, Sogelink is a software, cloud and mobile solutions provider and has driven the digitalization of its ecosystem over two decades. The Company responds to mission-critical needs of all stakeholders across the value chain by addressing specific industry pain points, delivering tangible value. Sogelink’s comprehensive software offering digitizes each step of the construction process: infrastructure design, pre-build checks, construction management, and post-build risk. Employing over 600 people across six countries, the Company generates more than €120m of revenues and €50m of EBITDA, serves over 18,000 blue chip clients and 220,000 users, and is extremely well-placed to further strengthen its position as a leader of the Construction Tech market in Europe.

Since Keensight’s majority investment in 2019 alongside Naxicap Partners, the Company has reinforced its position in the Construction Tech space through sustained innovation, continuous product development, and geographic expansion. Its position as a pan-European champion has translated into a path of robust double-digit revenue growth. In addition to its strong organic performance, the Company also continued its European consolidation efforts through, amongst others, the acquisition of Locatiqs, Geodesial, and Focus Software.

Fatima Berral, CEO of Sogelink, says, “After four years of productive and successful partnership with Keensight Capital, that made Sogelink an undisputed European leader in the Construction Tech industry, I am delighted to open a new chapter in the group’s development with a partnership between CVC and Keensight, whose capabilities will surely reinforce our growth ambition.”

John Clark and Jean-Christophe Germani, Managing Partners at CVC, comment: “We have been tracking Sogelink closely for several years and have been very impressed with its capabilities and business model. The Company’s leading position and pan-European reach set it up well for further organic and non-organic growth and we look forward to working closely with Fatima and her high quality team, as well as Keensight, to accelerate Sogelink’s growth, while continuing to focus on delivering best-in-class solutions to its existing valued client base.”

Quotes

The Company’s leading position and pan-European reach set it up well for further organic and non-organic growth and we look forward to working closely with Fatima and her high quality team, as well as Keensight, to accelerate Sogelink’s growth.

John Clark and Jean-Christophe GermaniManaging Partners at CVC

Jean-Michel Beghin, Managing Partner of Keensight Capital, and Arjan Hannink, Partner, add: “We are delighted to announce our continued partnership with Sogelink through this strategic re-investment. Over the past four years, our collaboration, particularly with the dynamic leadership of Fatima and the rest of the management team, has been pivotal in driving the Company’s international expansion and enlarging its offering. As we embark on this next phase of growth, we are excited to join forces with CVC and we look toward this renewed partnership with Management to drive forward the Company’s success in the coming years.”

1Growth Buyout: investment in profitable, private companies experiencing strong growth, in minority or majority positions, with or without leverage, using a flexible approach tailored to the needs of individual entrepreneurs, in order to finance organic growth projects, acquisition strategies or provide historic shareholders with liquidity.

2Subject to regulatory clearances and employees representative bodies opinion.

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Solidity and continued profitability in the German software market

Main Capital Partners

German software companies remain profitable and have grown in the past year. Further evidence to these trends was demonstrated during the 2nd edition of the Main Software 50 Germany ranking.

German software companies remain profitable and have grown in the past year. Further evidence to these trends was demonstrated during the 2nd edition of the Main Software 50 Germany ranking. The ranking gives acclaim to the most outstanding software companies in the industry that drive the digitalization of the German economy. This year’s top three winners are Anny GmbH, Brain-SCC GmbH, and Cleversoft Group.

The Main Software 50 is the leading ranking of the most successful, privately held software companies in Germany. Since 2012, software companies in the Netherlands register for the Main Software 50 each year. Now returning for the second time, the ranking has extended to the German software market. The event is an initiation of software investor Main Capital Partners to highlight the importance of the often under-reported economic and societal impact of the enterprise software sector. Main indexes hundreds of companies that sign up each year based on seven objective business metrics: revenue, revenue growth, profitability, cloud/SaaS services revenue, recurring revenue, international revenue and revenue from partner channels. The results are verified by independent research institute Fraunhofer ISI.

Sven van Berge Henegouwen, Partner and Head of the DACH office, mentions: “With the Main Software 50 we aim to applaud and recognize achievements in the German software industry. It’s a source of pride for us to extend the ranking to Germany for the second time, underscoring our commitment to showcasing and celebrating excellence in this dynamic sector.”
Key statistics of the Main Software 50 Germany 2023

The key statistics of the Main Software 50 Germany edition 2023 once more shows solidity in the profile of German software companies. The 2021 and 2022 financial data show that the top 50 software companies have grown. The total growth has increased from 23% last year to 28% in 2023 and the average contribution of SaaS (software as a service; software solutions delivered via subscription models) to the revenue of the top-50 players on the list remained the stable (66% in 2022). Alongside, the revenue per FTE has increased from 109.000 in 2022 to 120.000 in 2023. These numbers demonstrate the robustness of software companies’ business models and the predictability of their revenue streams. Software companies build more resilience to market dynamics such as rising inflation, while companies that work a lot on project basis experience significantly more impact when the market conditions deteriorate. The expected growth for the coming two years has however decreased significantly due to the challenges in the German market.

The winners of the Main Software 50 Germany Awards
Five awards were presented at the award ceremony: the Overall Champions Awards for the top three, the Highest Growth Award for the company (with more than 1 million euros in revenue) that managed to achieve the highest revenue growth in 2023 and the Cloud Champion Award for the company that with the highest revenue from cloud-based activities.

This year integrated risk management software company, Cleversoft Group, a former portfolio company of Main, managed to secure third place. Cleversoft was last years’ winner of the Overall Champion’s Awards and thus manages to remain in the top 3. Digital administration software company, Brain-SCC GmbH, climbed straight to 2nd place in the ranking. This year’s No. 1, is rewarded to Anny GmbH, a booking workflow automation and resource management software supplier, founded in 2020 and based in Köln, Germany. In addition to familiar faces, there were also numerous new entrants who signed up for this year’s leading ranking. Circula GmbH, a software company for Travel Expense Management walked away with the Cloud Champion award. Lastly, the Overall Champion, Anny GmbH, also took home the prize for the Highest Growth Award. Anny GmbH achieved a revenue growth of 780% and more than doubled in number of FTE’s in 2022.

“Main Software 50 recognizes the success of the German software industry, which continues to demonstrate its innovative capabilities and profitability. The companies that made the list are a testament to the strength of the German software industry and to its contribution to the economy. The list also serves as a benchmark for other companies in the industry, showing them how to improve and develop their company further.” van Berge Henegouwen concluded.

With the Main Software 50 we aim to applaud and recognize achievements in the German software industry

– Sven van Berge Henegouwen, Partner & Head of DACH at Main Capital Partners.

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Fortino Capital exits Business Process Management firm Symbio

Fortino Capital

Munich, November 30, 2023 – Fortino Capital, a European B2B software venture capital and growth equity firm, today shared that Celonis, the global market leader in process mining, has acquired Symbioworld GmbH, an innovative AI-driven business process management software provider. For Fortino Capital this marks the first exit of an investment in Germany.

Fortino Capital initially invested in Symbio in December 2022, as the company had shown strong proof of organic growth with a sticky and recurring customer base. Following the investment, Fortino supported the Symbio management on further professionalization of the company and leveraging its growth potential. Fortino supported Symbio in accelerating its growth by providing operational experience as Saas B2B investors. Throughout the holding period of Fortino Capital, Symbio has experienced a significant uptick in growth, fueled by new product innovations focusing on AI, the implementation of a refined go-to-market strategy and further internationalization.

Philipp Remy, Partner at Fortino Capital, explains: “The acquisition of Symbio by Celonis symbolizes a powerful market event as the two companies can now provide managers and employees with a unified end-to-end process experience for deploying process best practices aligned with real-time performance metrics and monitoring. We want to thank the Symbio team for our great partnership and this very successful journey we had together.

Philipp Remy, Partner at Fortino Capital

With the launch of the Symbio AI Copilot this year, Symbio took another big step forward in its position at the forefront of Business Process Management. Fortino supported the Symbio management in inventing and launching this product innovation in the initial phase of the holding period with imminent large-scale customer demand and commercial traction. We wish the Symbio and Celonis team the very best in their mission to bring process intelligence to all companies around the globe.”

Oliver Zeller, CEO and co-founder of Symbio, added: “By joining forces with Celonis we have a great opportunity to enable employee-centric process intelligence at scale. Combining Celonis’ market-leading process mining technology with Symbio’s ability to allow employees to easily retrieve all relevant processes and information via AI search and personal Copilot capability provides a game-changer in process intelligence for our customers.

Oliver Zeller, Co-Founder and CEO at Symbio

I would like to thank Philipp and the entire Fortino team for supporting us with their outstanding operational expertise and impeccable commitment, which enabled Symbio to rapidly benefit from the right strategic focus, evident in our accelerated growth trajectory.”

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BPEA EQT Mid-Market Growth to acquire a majority stake in HRBrain, a fast-growing HR software provider in Japan

eqt

HRBrain is a fast-growing HR software provider in Japan, helping companies manage and engage with talent more effectively through a diversified suite of cloud products

As Japan continues to face talent shortages and increasing regulatory requirements for disclosure of human capital metrics, the demand for solutions to support talent management and employee engagement is growing rapidly

BPEA EQT Mid-Market Growth will support HRBrain’s continued growth by expanding the customer base and support ongoing development of new modules to further enhance its integrated service offering

EQT is pleased to announce that the BPEA EQT Mid-Market Growth Fund (“BPEA EQT Mid-Market Growth”) has agreed to acquire a majority stake in HRBrain (the “Company”), from existing shareholders. The Company’s founder, Hiroki Hori, will remain as a significant minority shareholder and continue as CEO.

HRBrain was established in 2016 to offer software solutions aimed at simplifying and streamlining companies’ performance evaluation processes. Today, the Company’s HR solutions have grown to include comprehensive talent management, employee experience and organization assessment, labor management, AI ChatBot, 360 Reviews, and more. HRBrain is headquartered in Tokyo and has more than 150 employees.

As Japan continues to face talent shortages and increasing regulatory requirements for disclosure of human capital metrics, the demand for solutions to support talent management and employee engagement has been growing rapidly. With an intuitive UI/UX design, flexible module selections, and strong customer support and consulting services, HRBrain has developed a highly diversified customer base, helping more than 2,500 companies in total engage with talent more effectively. Moreover, the Company has best-in-class customer satisfaction and strong retention, particularly from their core target segment of mid to large sized enterprises, with more than 60 percent in annual recurring revenue growth.

EQT has extensive experience developing strong software businesses on a global scale, with more than 15 software investments globally and over USD 10 billion of equity invested since 2018. BPEA EQT Mid-Market Growth will leverage the firm’s in-house software and digitalization capabilities and global network of industry experts to support HRBrain in its next phase of growth.

Tetsuro Onitsuka, Partner within EQT Japan’s advisory team, commented, “HRBrain is one of the top players in Japan’s Talent Management space, which is backed by strong tailwinds from socially significant issues like a shrinking labor force, a growing shift towards job-based hiring, and a regulatory push to visualize and disclose human capital. We see great potential for further expansion of the company’s impressive product and service offerings, and we look forward to leveraging EQT’s experience in technology and software to support President Hiroki Hori and his employees as we work together to accelerate HRBrain’s organic and inorganic growth.”

Hiroki Hori, CEO of HRBrain, commented, “HRBrain promotes solutions in the HR domain mainly for Japanese companies through SaaS-type software and consulting services. We are pleased to have formed a strong partnership with EQT and work to realize our mission. Together, we will continue to provide unique products that are indispensable to diverse workplaces and solving complex issues in the HR field.”

The transaction is expected to close in Q4 2023.

BPEA EQT was advised by SMBC Nikko, Nishimura & Asahi (legal), and KPMG (financial, tax and ESG). The Company was advised by UBS and Shiomizaka (legal).

Contact
EQT Press Office, press@eqtpartners.com

The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of the BPEA EQT Mid-Market Growth fund will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.

About

About EQT
EQT is a purpose-driven global investment organization with EUR 232 billion in total assets under management (EUR 128 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
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About HRBrain
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Main Capital Partners announces the sale of its majority stake in GBTEC to Carlyle

Main Capital Partners

Global investment firm Carlyle (NASDAQ: CG) announced today a majority investment in GBTEC Software AG and affiliates (“GBTEC”), a leading provider of business process management (BPM) and governance, risk and compliance (GRC) software.

Global investment firm Carlyle (NASDAQ: CG) announced today a majority investment in GBTEC Software AG and affiliates (“GBTEC”), a leading provider of business process management (BPM) and governance, risk and compliance (GRC) software. GBTEC’s founder and CEO Gregor Greinke will remain the largest private shareholder and CEO of GBTEC. As part of the transaction, co-founder Marc-Oliver Stromberg and the extended GBTEC management team are reinvesting and investing respectively for significant stakes in the company. Main Capital Partners, which has supported GBTEC as a specialized software investor since 2019, has sold its stake in GBTEC as part of the transaction. Further details of the transaction were not disclosed.

GBTEC is a leading provider of SaaS software in the market segments of intelligent Business Process Management (iBPM), Digital Process Automation (DPA) and Process Governance, Risk and Compliance (GRC). The company is differentiated by its modern and user-friendly products, which are driven by no-code and low-code technologies, and its state-of-the-art product platform. GBTEC’s products are commended by leading technology analysts. The company has over 1,200 customers, including many European and international blue-chip enterprises as well as public institutions, and employs around 300 people. In addition to its home markets of Germany, Austria, and Switzerland, the company has established branches in Spain and Australia.

Carlyle will work with GBTEC’s management team to further accelerate the company’s international expansion and further develop its product portfolio, particularly in the area of digital process automation. The company plans to make significant investments particularly in sales & marketing and artificial intelligence.

Equity for the investment will be provided by Carlyle Europe Technology Partners (“CETP”) V, a €3 billion fund which invests in technology companies across Europe. Carlyle will leverage its longstanding track record of internationalising European software companies, including current portfolio companies SER Group, Shopware, CSS, 1E, Phrase and Hack The Box.

Gregor Greinke, founder and CEO of GBTEC, said: “With our modern and user-friendly products we have become a leading BPM and GRC SaaS provider in Europe in recent years. With Carlyle’s investment, we are now entering the next phase of GBTEC’s growth journey. We believe Carlyle, one of the leading technology investors, is the perfect partner to support us in realizing our growth ambitions. We would like to thank Main Capital Partners for the excellent cooperation and partnership over the last four years.”

Michael Wand, Managing Director and Co-Head of the CETP investment advisory team, said: “GBTEC is well placed to benefit from one of the most important technology trends, digital transformation and, specifically, the automation of business processes. We are excited that Gregor Greinke and his team have decided to partner with us. We believe that with our more than 20 years’ of experience in infrastructure software investments and supporting the internationalisation of European software companies, we can be a key contributor to GBTEC’s growth into a global market leader.”

Sven van Berge Henegouwen, Managing Partner at Main Capital Partners, said: “GBTEC‘s performance over the last years has been impressive and the time spent with the management on strategic initiatives such as internationalization and product expansion has been extremely exciting. We believe Carlyle is investing in a well-positioned company with strong prospects for the future.”

GBTEC‘s performance over the last years has been impressive and the time spent with the management on strategic initiatives such as internationalization and product expansion has been extremely exciting.

– Sven van Berge Henegouwen, Managing Partner at Main Capital Partners

About

GBTEC Group

GBTEC is a leading provider of SaaS software in the areas of Business Process Management (BPM) and Governance, Risk and Compliance (GRC). GBTEC’s product portfolio covers the areas of Business Process Design & Modelling, Process Execution, Process Mining and Process Governance, Risk and Compliance (GRC) from a single vendor. The company differentiates through its modern and user-friendly products, driven by no-code and low-code technologies and a state-of-the-art product platform. Customers also benefit from expert customer support and a comprehensive range of training courses in the areas of BPM and GRC. GBTEC’s products are used by companies of all sizes, from SMEs to Fortune 500 enterprises, and public institutions. Headquartered in Bochum, Germany, the company employs approximately 300 people at locations in Germany, Spain and Australia.

Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $382 billion of assets under management as of September 30, 2023, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,200 people in 28 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle.

 

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Blackstone to Acquire Civica

Blackstone

LONDON, UK – November 22, 2023 – Blackstone (NYSE: BX), the world’s largest alternative asset manager, announced today that private equity funds managed by affiliates of Blackstone (“Blackstone”) have entered into a definitive agreement to acquire Civica, a global leader in public sector software solutions, from Partners Group, a leading global private markets firm, acting on behalf of its clients. Financial terms of the transaction were not disclosed.

Civica was founded in 2001 and has since grown into one of the UK’s largest software companies and a global leader in software for the public sector, providing mission-critical automating and streamlining technology services to clients that range from local to central and federal government, health and social care providers and education. Its wide-ranging product portfolio includes workflow and automation, risk and compliance, workforce management, financial management, and data analytics and insights. Civica is recognized for its high customer retention rates and benefits from strong recurring revenues. Today, Civica has over 6,000 customers, servicing more than 100 million citizens across the UK, Ireland, Australia, New Zealand, India, Singapore, the United States and Canada.

Civica has benefited from the strong growth of the Government Technology space, powered by the ongoing digitalization of the public sector and long-term investments made by governments to improve their technology capabilities and the services they offer to their constituents.

“Civica is a leader in the ‘GovTech’ space, with an excellent brand and an enviable market position and we are excited to be partnering with a stellar management team to help the business in this next phase of growth. This investment is a testament to our long-standing software experience, a significant focus area for the firm globally, and builds on our strong track record of investing here in the UK,” said Jonathan Murphy, a Managing Director at Blackstone and Miguel García Gómez, a Principal at Blackstone.

“At Civica, our aspiration is to be a ‘GovTech’ champion, providing software that supports the needs of citizens and those that serve them. In partnership with Partners Group, we have significantly transformed our offering and increased growth momentum across cloud, digital enablement, software innovation, and data analytics. We have also cemented our position as an innovation leader. We now have over two decades of growth to build on and look forward to the next phase of our journey,” commented Lee Perkins, Chief Executive Officer at Civica.

The transaction is expected to close in Q2 2024, subject to regulatory approvals. Blackstone was advised by Barclays as lead financial advisor and DC Advisory as secondary financial advisor. Partners Group was advised by Clifford Chance and Arma Partners. Arma Partners acted as exclusive financial advisor to Civica and Management was advised by Travers Smith and Wyvern Partners.

Media Contacts

Blackstone
Rebecca Flower
Rebecca.Flower@blackstone.com
+44 (0)7918 360372

Civica
Fintan Hastings
press@civica.co.uk

About Blackstone 
Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors. We do this by relying on extraordinary people and flexible capital to help strengthen the companies we invest in. Our over $1 trillion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis.  Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

About Civica Group
We’re Civica and we make software that helps deliver critical services for citizens all around the world. From local government to central government, to education, to health and care, over 5,000 public bodies across the globe use our software to help provide critical services to over 100 million citizens. Our aspiration is to be a GovTech champion everywhere we work around the globe, supporting the needs of citizens and those that serve them every day. www.civica.com

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