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March 2022
UK & Ireland, > €500m

Liberty advises the management team of Forterro on their acquisition by Partners Group

Partners Group, a leading global private markets firm, has, on behalf of its clients, agreed to acquire Forterro, a pan-European software services provider for small and mid-sized businesses ("SMBs"), from Battery Ventures.

The transaction values Forterro at an enterprise value of EUR 1 billion.

Founded in 2012 and headquartered in London, Forterro has a portfolio of 11 Enterprise Resource Planning ("ERP") software brands, serving over 10,000 customers primarily in the manufacturing space. The Company's software products offer 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 buy more tailored solutions, which increases speed of implementation. The Company has over 1,200 employees across its European offices – located in the UK, Sweden, France, Switzerland, Germany and Poland – and global development centres. The SMB ERP software market benefits from structural tailwinds driven by long-term digitization trends and is expected to experience attractive growth in the coming years. Forterro's strong portfolio of brands and geographic reach position 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 improving operational efficiency.

Liberty advised the management team on all aspects of their reinvestment and management incentive arrangements.

In a highly competitive process the team at Liberty helped us quickly negotiate terms, resulting in a compelling incentive plan that is well aligned with our growth strategy.

Dean Forbes
CEO of Forterro

Mick McDonagh
The transformative growth delivered by Dean and his team over the past 12 months paved the way for this exciting transaction. I look forward to seeing the whole team accelerate further their European growth plans with Partner’s Group support.

Michael McDonagh
+44 (0) 7715 705 000