PARTNERS GROUP HOLDING AG
Partners Group
/ Key word(s): Acquisition/Investment
Baar-Zug, Switzerland; 1 March 2022
Partners Group, a leading global private markets firm, has, on behalf of its clients, agreed to acquire Forterro (or "the Company"), a pan-European software services provider for small and mid-sized businesses ("SMBs"), from Battery Ventures. The transaction values Forterro at an enterprise value of EUR 1 billion. Founded in 2012 and headquartered in London, Forterro has a portfolio of 11 Enterprise Resource Planning ("ERP") software brands, serving over 10,000 customers primarily in the manufacturing space. The Company's software products offer functionality and serve various manufacturing sub-verticals, which has differentiated its solutions from competitors and fostered a loyal customer base. Forterro's deep domain expertise allows customers to buy more tailored solutions, which increases speed of implementation. The Company has over 1,200 employees across its European offices - located in the UK, Sweden, France, Switzerland, Germany and Poland - and global development centers. The SMB ERP software market benefits from structural tailwinds driven by long-term digitization trends and is expected to experience attractive growth in the coming years. Forterro's strong portfolio of brands and geographic reach position it well to capitalize on this growth. Partners Group will work with management to realize Forterro's value creation potential and further expand its platform across Europe. Key initiatives include accelerating Forterro's organic growth by expanding go-to-market initiatives, making strategic acquisitions in adjacent geographies and sub-verticals, including cloud offerings where appropriate, and improving operational efficiency. Bilge Ogut, Partner, Head Private Equity Technology, Partners Group, says: "Forterro provides mission-critical software that helps SMB manufacturers adapt and survive in an increasingly digitized world. We believe Forterro has transformational growth potential given the increasing importance of software to companies for addressing every aspect of their business and remaining competitive. Forterro is a long-term partner to its clients and can serve them in a way many larger providers cannot replicate. We were also attracted to the Company's ability to act as a consolidator in the fragmented SMB ERP market. We are excited about the value creation opportunity Forterro offers and look forward to working with the management team to realize the Company's potential." Dean Forbes, Chief Executive Officer, Forterro, comments: "Forterro's high customer retention rates reflect our understanding of SMB manufacturers' needs and the deep entrenchment of our products in their daily processes. Our recent growth has been driven by the acquisition and integration of specialized ERP providers, and we believe Partners Group's resources and expertise in scaling up technology platforms will be extremely valuable as we expand our M&A aperture and pipeline." Charles Rees, Member of Management, Private Equity Technology, Partners Group, adds: "Forterro provides specialized software products with superior functionality at a lower price point than the large generalists, whose products are often too complex and costly for SMB manufacturers. The Company compounds this competitive advantage by remaining close to customers across the full lifecycle. We have conviction that the management team's prior experience in go-to-market optimization and organic sales acceleration will support Forterro's continued growth." About Partners Group Partners Group is a leading global private markets firm. Since 1996, the firm has invested over USD 170 billion in private equity, private real estate, private debt, and private infrastructure on behalf of its clients globally. Partners Group seeks to generate strong returns through capitalizing on thematic growth trends and transforming attractive businesses and assets into market leaders. The firm is a committed, responsible investor and aims to create sustainable returns with lasting, positive impact for all its stakeholders. With USD 127 billion in assets under management as of 31 December 2021, Partners Group provides an innovative range of bespoke client solutions to institutional investors, sovereign wealth funds, family offices and private individuals globally. The firm employs more than 1,500 diverse professionals across 20 offices worldwide and has regional headquarters in Baar-Zug, Switzerland; Denver, USA; and Singapore. It has been listed on the SIX Swiss Exchange since 2006 (symbol: PGHN). For more information, please visit www.partnersgroup.com or follow us on LinkedIn or Twitter.
Partners Group media relations contact
Phone: +44 207 575 2593
End of Media Release |
| Language: | English |
| Company: | Partners Group |
| Zugerstrasse 57 | |
| 6341 Baar | |
| Switzerland | |
| Phone: | +41 41 784 60 00 |
| Fax: | + 41 41 784 60 01 |
| E-mail: | partnersgroup@partnersgroup.com |
| Internet: | https://www.partnersgroup.com/en/ |
| ISIN: | CH0024608827 |
| Valor: | 2460882 |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 1291511 |
| End of News | EQS News Service |
1291511 01.03.2022
