Partners Group Acquires Forterro, a Leading Pan-European Software Services Provider

Partners Group / Keyword(s): Acquisition/Investment
01.03.2022 / 15:00

Baar-Zug, Switzerland; March 1, 2022

  • The transaction values ​​Forterro at an enterprise value of 1 billion euros

  • Forterro has a portfolio of 11 software brands, serving more than 10,000 customers

  • Society benefits from long-term digitization trends

Partners Group, a global leader in private markets, has, on behalf of its clients, agreed to acquire Forterro (or “the Company”), a pan-European provider of software services for small and medium-sized enterprises (“SMEs”), Battery Ventures. The transaction values ​​Forterro at an enterprise value of €1 billion.

Founded in 2012 and headquartered in London, Forterro has a portfolio of 11 enterprise resource planning (“ERP”) software brands, serving more than 10,000 customers primarily in manufacturing. The Company’s software products provide functionality and serve various manufacturing sub-verticals, which has differentiated its solutions from competitors and fostered a loyal customer base. Forterro’s deep domain expertise allows customers to purchase more customized solutions, which speeds implementation. The company has more than 1,200 employees in its European offices – located in the UK, Sweden, France, Switzerland, Germany and Poland – and its global development centers. The SME ERP software market is enjoying structural tailwinds driven by long-term digitalization trends and is expected to witness attractive growth in the coming years. Forterro’s strong brand portfolio and geographic reach positions it well to capitalize on this growth.

Partners Group will work with management to realize Forterro’s value creation potential and further expand its platform across Europe. Key initiatives include accelerating Forterro’s organic growth by expanding go-to-market initiatives, making strategic acquisitions in adjacent geographies and sub-verticals, including cloud offerings where appropriate, and enhancing operational efficiency.

Bilge Ogut, Partner, Head of Private Equity Technology, Partners Group, says, “Forterro provides mission-critical software that helps SME makers adapt and survive in an increasingly digitalized world. We believe Forterro has transformational growth potential given the growing importance of software to businesses. to address all aspects of their business and stay competitive. Forterro is a long-term partner to its customers and can serve them in a way that many large vendors cannot replicate. We were also attracted by the company’s ability to act as a consolidator in the fragmented SME ERP market. We are excited about the opportunity for value creation that Forterro offers and look forward to working with the management team to realize the potential of the business. »

Dean Forbes, President and CEO of Forterro, comments, “Forterro’s high customer retention rates reflect our understanding of the needs of SMB manufacturers and the deep roots of our products in their daily processes. Our recent growth has been spurred by the acquisition and integration of specialist ERP vendor companies, and we believe Partners Group’s resources and expertise in scaling technology platforms will be extremely valuable. as we expand our openness and M&A pipeline.”

Charles Rees, Managing Member, Private Equity Technology, Partners Group, adds, “Forterro provides specialist software products with superior functionality at a lower price point than large generalists, whose products are often too complex and expensive for manufacturers. of SMEs. The company composes this competitive advantage by staying close to customers throughout the life cycle. We are confident that the management team’s previous experience in optimizing go-to-market and accelerating organic sales will support Forterro’s continued growth.

About the Partners Group

Partners Group is a global leader in private markets. Since 1996, the firm has invested more than $170 billion in private equity, private real estate, private debt and private infrastructure on behalf of clients worldwide. Partners Group seeks to generate strong returns by capitalizing on thematic growth trends and transforming attractive businesses and assets into market leaders. The company is an engaged and responsible investor and aims to create sustainable returns with lasting positive impact for all of its stakeholders. With $127 billion in assets under management as of December 31, 2021, Partners Group offers an innovative range of tailored client solutions to institutional investors, sovereign wealth funds, family offices and individuals worldwide. The company employs more than 1,500 diverse professionals in 20 offices around the world and is headquartered in Baar-Zug, Switzerland; Denver, USA; and Singapore. It has been listed on the SIX Swiss Exchange since 2006 (symbol: PGHN). For more information, please visit www.partnersgroup.com or follow us on LinkedIn Where Twitter.

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