M&A Deal Summary

EQT Acquires PageUp

On October 31, 2024, private equity firm EQT acquired internet software and services company PageUp from Battery Ventures

Acquisition Highlights
  • This is EQT’s 21st transaction in the Internet Software and Services sector.
  • This is EQT’s 7th transaction in Australia.

M&A Deal Summary
Date 2024-10-31
Target PageUp
Sector Internet Software and Services
Buyer(s) EQT
Sellers(s) Battery Ventures
Deal Type Secondary Buyout
Advisor(s) William Blair (Financial)

Target

PageUp

Melbourne, Australia
PageUp is a manufacturer of cloud based, enterprise talent management software. Its tools and services empower organizations to optimize their human resources investment processes, enhance workforce performance, and deliver a personalized experience to candidates and employees. PageUp was established in 1997 and is based in Melbourne, Australia.

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Buyer(S) 1

Buyer

EQT

Stockholm, Sweden

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 242.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

EQT is a global private equity group that purses a variety of investment strategies around the world. EQT is divided into several investment disciplines, including private capital, real assets, credit, and venture. The Firm's private capital group targets large, market-leading enterprises (investment size of €125 to €1.5 billion) across Europe and the US, as well as mid-market, growth companies (investment size of €40 to €125 million) across the US, Europe, China, and Southeast Asia. The Firm's real assets group seeks to identify control or co-control equity investments (investment size of €500 to €1 billion) in medium-sized infrastructure companies that provide an essential service to society, are recession resilient, and have secure cash flows. EQT's credit group provides flexible, long-term debt capital solutions to medium-sized European businesses, across a wide range of sectors. EQT was established in 1994 and is headquartered in Stockholm, Sweden.

DEAL STATS #
Overall 315 of 315
Sector (Internet Software and Services) 21 of 21
Type (Secondary Buyout) 96 of 96
Country (Australia) 7 of 7
Year (2024) 20 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-21 Nord Anglia Education

London, United Kingdom

Nord Anglia Education is an international operator of premium schools, serving students from kindergarten through the end of secondary school (K-12). Together, they educate more than 37,000 students from kindergarten through to the end of secondary education. Providing education to both expatriates and local students in the markets where it operates, Nord Anglia attracts top teaching talent globally and has established collaborations with leading post-secondary institutions, including The Juilliard School, the Massachusetts Institute of Technology and King's College London. Nord Anglia Education was formed in 1972 and is based in London.

Buy $14.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-23 Melita

Mriehel By-Pass, Malta

Melita is a provider of high-speed broadband and mobile services as well as a premium TV to households and businesses connected to its state-of-the-art telecom network in Malta. It owns and operates a fully invested, over 1,600km long HFC network as well as a 5G-ready mobile network with its own tower and small cell footprint. Melita was founded in 1991 and is based in Mriehel By-Pass, Malta.

Sell -

Seller(S) 1

SELLER

Battery Ventures

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1983
PE ASSETS 13.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Battery Ventures is a private investment firm focused on opportunities in the technology and related-sectors. Battery will invest at all company stages, from seed and early-stage capital situations to leveraged buyouts, PIPEs, spin outs, rollups and take-privates of established companies. Battery's private equity group focuses on investments in companies with revenue of $5 to $200 million and EBITDA up to $25 million. Battery can commit up to $100 million in equity per transaction. Specific areas of interest include software; IT services and outsourcing; communications components, systems, and services; and financial services and tech-enabled businesses. Battery will consider investments throughout North America, Europe, and Asia. Battery Ventures was formed in 1983 and is headquartered in Menlo Park, California.

DEAL STATS #
Overall 63 of 64
Sector (Internet Software and Services) 13 of 13
Type (Secondary Buyout) 9 of 9
Country (Australia) 1 of 1
Year (2024) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-20 steute

Löhne, Germany

steute manufactures switches, sensors, and other products that enable increased automation and safety. The company’s product line includes certified medical-control devices that help precisely control medical equipment in operating rooms globally. steute is based in Löhne, Germany.

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

Ely, United Kingdom

PST is a provider of measurement instrumentation and monitoring solutions for process-critical applications worldwide. With 12 leading brands, PST offers a comprehensive suite of proprietary sensors, instruments, analyzers, and monitoring solutions with sensing capabilities across parameters, including moisture, gas, level, and flow. PST was founded in 1964 and is based in Ely, Cambridgeshire.

Sell -
Mergr

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