M&A Deal Summary

Thomas H. Lee Partners and Verdane Acquire Inriver

On May 19, 2022, private equity firm Thomas H. Lee Partners and growth capital firm Verdane acquired software company Inriver from Verdane

Acquisition Highlights
  • This is Thomas H. Lee Partners’ 10th and Verdane’s 15th transaction in the Software sector.
  • This is Thomas H. Lee Partners’ 1st and Verdane’s 36th transaction in Sweden.

M&A Deal Summary
Date 2022-05-19
Target Inriver
Sector Software
Buyer(s) Thomas H. Lee Partners
Verdane
Sellers(s) Verdane
Deal Type Secondary Buyout
Advisor(s) Evercore Group (Financial)
Sidley (Legal)

Target

Inriver

Malmo, Sweden
website
Inriver empowers organizations to deliver revenue-driving product information at every touchpoint. Inriver’s Digital-first PIM enables organizations to bring compelling product stories to life for highly customized purchases, obtain actionable guidance on what influences buying decisions, and then quickly adapt to put insights into action. Inriver helps B2B and B2C organizations turn product information into strategic assets to drive revenue for over 1,600 brands and 700 customers globally. Inriver was formed in 2003 and is based in headquartered in Malmö, Sweden, Inriver has offices in Amsterdam, Chicago, Davao, London, Manila, Munich, and Stockholm.

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Buyer(S) 2

Buyer

Thomas H. Lee Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1974
PE ASSETS 25.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thomas H. Lee Partners, LP (THL) is a private equity firm that seeks buyout, expansion, consolidation, distressed, and recapitalization investments across various industries. Sectors of interest include business and information services, consumer products/retail, financial services, healthcare, industrial, and media/communications. THL looks to invest $100 to $400 million in companies valued up to $2.5 billion. Thomas H. Lee Partners, LP was formed in 1974 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 82 of 82
Sector (Software) 10 of 10
Type (Secondary Buyout) 30 of 30
Country (Sweden) 1 of 1
Year (2022) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-18 MHS

Mount Washington, Kentucky, United States

MHS is a provider of e-commerce infrastructure, enabling systems automation for top logistics and e-commerce companies in the world. MHS services its customers and the parcel industry through best-in-class turnkey engineering design services, software, and equipment. MHS was founded in 1975 and is based in Mount Washington, Kentucky.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-19 NexTech

Tampa, Florida, United States

NexTech is a fully-integrated, specialty specific, certified EMR, practice management, and marketing software that covers a wide array of specialty practice needs. NexTech was founded in 1997 and is based in Tampa, Florida.

Sell $1.4B
Buyer

Verdane

Oslo, Norway

Investor Investor Investor Investor Investor

website

Category Growth Capital Firm
Founded 1985
PE ASSETS 1.2B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Verdane is a Norwegian private investment focused on acquiring portfolios of investments. In addition to secondary investing, Verdane also invests in co-investment pools as well as makes direct investments in individual growth companies. Sectors of interest include consumer products/services, software, energy, technology, and communications. Verdane provides support to portfolio owners to reduce exposure to private equity risk, achieve liquidity and free owners from the burden of managing direct investments. The majority of Verdane's investments are growth stage, however, the Firm can invest at any stage of development. Verdane was formerly known as Four Seasons Venture AS and was established in 1985. Verdane is based in Oslo, with additional offices in Helsinki and Stockholm.

DEAL STATS #
Overall 78 of 79
Sector (Software) 15 of 15
Type (Secondary Buyout) 7 of 7
Country (Sweden) 36 of 37
Year (2022) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-17 EVA Global

Tampere, Finland

EVA Global is a managed services provider in emobility. The company offers an integrated and innovative technology platform that can connect to 17 different Charge Point Management Systems and allows us to operate charging infrastructure, troubleshoot virtually any type and make of charging equipment, provide superior customer experience, and manage the service and maintenance of your install base. EVA's clients include a wide range of companies located across Europe, Asia, and the United States. It currently solves more than 100,000 EV driver cases a month, and our team of multilingual EV Specialists is available 24/7, 365 days a year. EVA Global was formed in 2017 and is based in Tampere, Finland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-01 Scanmarket

Solbjerg, Denmark

Scanmarket is a cloud-based SaaS suite within strategic sourcing software. Scanmarket supports procurement teams with purchasing, planning, assessment and performance management through a Source-to-Contract SaaS suite. Scanmarket was founded in 1999 and is based in Solbjerg, Denmark.

Sell -

Seller(S) 1

SELLER

Verdane

Oslo, Norway

Investor Investor Investor Investor Investor

website

Category Growth Capital Firm
Founded 1985
PE ASSETS 1.2B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Verdane is a Norwegian private investment focused on acquiring portfolios of investments. In addition to secondary investing, Verdane also invests in co-investment pools as well as makes direct investments in individual growth companies. Sectors of interest include consumer products/services, software, energy, technology, and communications. Verdane provides support to portfolio owners to reduce exposure to private equity risk, achieve liquidity and free owners from the burden of managing direct investments. The majority of Verdane's investments are growth stage, however, the Firm can invest at any stage of development. Verdane was formerly known as Four Seasons Venture AS and was established in 1985. Verdane is based in Oslo, with additional offices in Helsinki and Stockholm.

DEAL STATS #
Overall 45 of 46
Sector (Software) 7 of 7
Type (Secondary Buyout) 7 of 7
Country (Sweden) 18 of 18
Year (2022) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-17 EVA Global

Tampere, Finland

EVA Global is a managed services provider in emobility. The company offers an integrated and innovative technology platform that can connect to 17 different Charge Point Management Systems and allows us to operate charging infrastructure, troubleshoot virtually any type and make of charging equipment, provide superior customer experience, and manage the service and maintenance of your install base. EVA's clients include a wide range of companies located across Europe, Asia, and the United States. It currently solves more than 100,000 EV driver cases a month, and our team of multilingual EV Specialists is available 24/7, 365 days a year. EVA Global was formed in 2017 and is based in Tampere, Finland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-01 Scanmarket

Solbjerg, Denmark

Scanmarket is a cloud-based SaaS suite within strategic sourcing software. Scanmarket supports procurement teams with purchasing, planning, assessment and performance management through a Source-to-Contract SaaS suite. Scanmarket was founded in 1999 and is based in Solbjerg, Denmark.

Sell -
Mergr

Product

Company

Legal