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’ 12th 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
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 headquartered in Malmö, Sweden.

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Buyer(S) 2

Buyer

Thomas H. Lee Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1974
PE ASSETS 35.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thomas H. Lee Partners (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. THL was formed in 1974 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 86 of 91
Sector (Software) 12 of 12
Type (Secondary Buyout) 31 of 33
Country (Sweden) 1 of 1
Year (2022) 4 of 5
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
2022-12-20 Bynder

Amsterdam, Netherlands

Bynder is the fastest way to professionally manage digital files. Its digital asset management (DAM) platform offers marketers a smart way to find and share creative files such as graphics, videos and documents. More than 250,000 brand managers, marketers and creatives from 450+ organizations like PUMA, innocent drinks and KLM Royal Dutch Airlines use Bynder to organize company files; edit and approve projects in real time; auto-format and resize files; and make the right content available to others at the click of a button. Bynder was founded in 2013 and is based in Amsterdam, Netherlands.

Buy -
Buyer

Verdane

Oslo, Norway


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 82 of 84
Sector (Software) 15 of 15
Type (Secondary Buyout) 11 of 11
Country (Sweden) 36 of 37
Year (2022) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-13 Scanbio Marine Group

Trondheim, Norway

Scanbio Marine Group is a producer of fish protein concentrate, hydrolyzed meal, and fish oil processed from pelagic, white and salmon by products. Scanbio Marine Group was founded in 1984 and is based in Trondheim, Norway.

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


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
2022-05-13 Scanbio Marine Group

Trondheim, Norway

Scanbio Marine Group is a producer of fish protein concentrate, hydrolyzed meal, and fish oil processed from pelagic, white and salmon by products. Scanbio Marine Group was founded in 1984 and is based in Trondheim, Norway.

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 -