Battery Ventures exits SMB software investment

The American investment company Battery Ventures has agreed to sell the technology company Forterro, to sell…

US investment firm Battery Ventures has agreed to divest technology company Forterro, selling it to fellow private equity firm Partners Group for 1 billion euros.

Charles Russell Speechlys acted as legal counsel to Battery Ventures, while Arma Partners served as exclusive financial advisor to Forterro on the transaction, which was executed in late February and is expected to close in the coming weeks, subject to compliance usual closing conditions and regulatory security. authorisation.

Forterro, headquartered in London, provides enterprise resource planning (ERP) software and services to small and medium-sized enterprises (SMEs), primarily in the manufacturing industry. Founded in 2012, it has since had 1,200 employees in 40 offices around the world, including France, Germany, Poland, Sweden and Switzerland.

Founded in 1983, Battery Ventures has raised $9.3 billion and targets the industrial technology, software and consumer sectors. She first invested in Forterro in 2012.

Partners Group is headquartered in Baar, Switzerland, and manages $127 billion in assets. It focuses its investments in private equity, private debt, private infrastructure and private real estate.

In a statement, Partners Group’s Head of Private Equity Technology, Bilge Ogut, said, “We came to the table confident in the quality of Forterro’s products and the people behind them. However, it is the group’s growth prospects – underpinned by its outstanding 2021 results – that really excites us for our journey ahead together.

Charles Russell Speechlys used a team led by Partner Jonathan Morley and General Counsel Edward Robinson on corporate matters, along with Partner Robert Birchall on Tax and Senior Counsel Paul Stone on Antitrust, with the support of a team of associates.

Last month, WilmerHale and Milbank advised on the acquisition of education and technology company Houghton Mifflin Harcourt by Veritas Capital.