M&A Deal Summary

Bregal Milestone and Haveli Investments Acquire M-Files

On August 13, 2024, private equity firms Bregal Milestone and Haveli Investments acquired software company M-Files from Tesi

Acquisition Highlights
  • This is Bregal Milestone’s 3rd and Haveli Investments’ 1st transaction in the Software sector.
  • This is Bregal Milestone’s 4th and Haveli Investments’ 1st transaction in Finland.

M&A Deal Summary
Date 2024-08-13
Target M-Files
Sector Software
Buyer(s) Bregal Milestone
Haveli Investments
Sellers(s) Tesi
Deal Type Recapitalization

Target

M-Files

Tampere, Finland
M-Files develops document management software and provides cloud-based document management services. M-Files was founded in 1987 and is based in Tampere, Finland.

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Buyer(S) 2

Buyer

Bregal Milestone

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2018
PE ASSETS 500M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Bregal Milestone is a private equity firm focused on non-control investments in profitable, European companies with dedicated management, growth opportunities, and sustainable business models. The Firm looks to commit €20 to €100 million per transaction and will consider a variety of investment structures, including debt and/or equity. Sectors of interest include Software, Technology-enabled services, Financial Technology, Data Infrastructure, Healthcare IT, and services Consumer/Internet. Bregal Milestone was formed in 2018 and is headquartered in London.

DEAL STATS #
Overall 17 of 17
Sector (Software) 3 of 3
Type (Recapitalization) 1 of 1
Country (Finland) 4 of 4
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-20 Cube

London, United Kingdom

Cube offers a comprehensive and robust source of classified, and meaningful AI-driven regulatory data to power its Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM) solutions. The company's regulatory technology including its AI engine (RegBrain) and software platform (RegPlatform) tracks, analyses, and monitors laws, rules, and regulations in every country and in every published language to create an always up-to-date regulatory footprint that transforms visibility and compliance capability for customers across the globe. Cube was founded in 2011 and is based in London, United Kingdom.

Sell -
Buyer

Haveli Investments

Category Private Equity Firm
Size Small
Type Sector Agnostic
DESCRIPTION

Haveli Investments is a private equity firm focused on investing in companies in the technology industry. Haveli Investments is based in Austin, Texas.

DEAL STATS #
Overall 6 of 7
Sector (Software) 1 of 1
Type (Recapitalization) 1 of 1
Country (Finland) 1 of 1
Year (2024) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-29 Blend

San Francisco, California, United States

Blend helps lenders streamline the customer journey for any banking product from application to close. Its Digital Lending Platform is used by Wells Fargo, U.S. Bank, and over 285 other financial institutions to acquire more customers, increase productivity, and deepen customer relationships. The company enables customers to process more than $4 billion in mortgages and consumer loans per day, helping millions of consumers get into homes and gain access to the capital they need to lead better lives. Blend was founded in 2012 and is based in San Francisco, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-21 AppViewX

New York, New York, United States

AppViewX is a certificate lifecycle management and network automation company specializing in providing solutions for Public Key Infrastructure (PKI) and network automation, helping organizations manage and automate the lifecycle of digital certificates and keys. AppViewX is based in New York City.

Buy -

Seller(S) 1

SELLER

Tesi

Investor Investor Investor Investor Investor

Category Sovereign Wealth Fund
Founded 1995
PE ASSETS 2.4B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Tesi is a Finnish venture capital and private equity firm specializing in fund and direct investments. Tesi specifically targets minority investments in early, growth stage, and established businesses. Areas of interest include industrial, mining, software, business and consumer services, healthcare, life science, cleantech, and marine. Tesi was established in 1995 and it is based in Helsinki.

DEAL STATS #
Overall 33 of 33
Sector (Software) 4 of 4
Type (Recapitalization) 2 of 2
Country (Finland) 30 of 30
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-14 Ultimate

Helsinki, Finland

Ultimate is a customer support automation platform, that brings the tools, team, and tactics that can take clients from 0 to +60% automation across digital support channels, including chat, email, messaging, and more. Ultimate was founded in 2016 and is based in Helsinki, Finland.

Sell -
Mergr

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