M&A Deal Summary

TPG and CDPQ Acquire Aareon

On June 24, 2024, private equity firm TPG and asset manager CDPQ acquired software company Aareon from Advent International for 3.9B EUR

Acquisition Highlights
  • This is TPG’s 34th and CDPQ’s 3rd transaction in the Software sector.
  • This is TPG’s 16th and CDPQ’s 3rd largest (disclosed) transaction.
  • This is TPG’s 6th and CDPQ’s 2nd transaction in Germany.

M&A Deal Summary

Date 2024-06-24
Target Aareon
Sector Software
Buyer(s) TPG
CDPQ
Sellers(s) Advent International
Deal Type Secondary Buyout
Deal Value 3.9B EUR
Advisor(s) Goldman Sachs
Arma Partners LLP (Financial)
CMS Legal (Legal)

Target

Aareon

Mainz, Germany
website
Aareon is a provider of ERP software and digital solutions for the European property industry, Aareon is setting the standards for the management of complex business processes. Aareon is based in Mainz, Germany.

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Buyer(S) 2

Buyer

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1992
PE ASSETS 137.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.


DEAL STATS #
Overall 402 of 403
Sector (Software) 34 of 35
Type (Secondary Buyout) 64 of 64
Country (Germany) 6 of 6
Year (2024) 4 of 5
Size (of disclosed) 16 of 101
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-03 Classic Collision

Atlanta, Georgia, United States

Classic Collision is a provider of quality auto body repairs with properly trained technicians and the appropriate equipment. Classic Collision was founded in 1983 and is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-27 Altimetrik

Southfield, Michigan, United States

Altimetrik is a pure-play digital business services company that focuses on delivering business outcomes with an agile, product-oriented approach. The company provides a blueprint to develop, scale, and launch new products to market faster. It builds an agile engineering culture of collaboration and innovation that modernizes technology and builds new business models in bite-size increments. Altimetrik is based in Southfield, Michigan.

Buy -
Buyer

CDPQ

Investor Investor Investor Investor Investor

website


Category Asset Manager
Founded 1965
PE ASSETS 80.0B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

CDPQ is a global asset management firm focused on a variety of investing strategies including fixed income, real estate, infrastructure, private equity, venture capital, and public equities. Within private equity, CDPQ looks to acquire significant minority stakes in businesses operating in a variety of sectors and seeks to commit $250 million to $1 billion per transaction. CDPQ was established in 1965 and is headquartered in Montreal, Quebec.


DEAL STATS #
Overall 101 of 101
Sector (Software) 3 of 3
Type (Secondary Buyout) 20 of 20
Country (Germany) 2 of 2
Year (2024) 4 of 4
Size (of disclosed) 3 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-11 National Bank

Montreal, Quebec, Canada

National Bank provides financial services through three business segments in Canada: Personal and Commercial Banking, Wealth Management, and Financial Markets. National Bank was incorporated in 1859 and is based in Montreal, Canada.

Buy -

Seller(S) 1

SELLER

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1984
PE ASSETS 76.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 million and $5 billion and can commit up to $2 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 211 of 211
Sector (Software) 8 of 8
Type (Secondary Buyout) 57 of 57
Country (Germany) 14 of 14
Year (2024) 3 of 3
Size (of disclosed) 2 of 52
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-17 V.Group

London, United Kingdom

V.Group provides mission-critical services to its customers, such as technical ship management, crew management, crew welfare services (e.g. catering, travel, and digital wallets & payment cards), leveraged procurement, technical services, specialist insurance broking, and modern shipping-specific digital solutions. V.Group was founded in 1984 and is headquartered in London, United Kingdom.

Sell -