Mentha Capital's Destiny bolts-on Motto Communications

A spokesperson for the GP confirmed that new equity was injected in Destiny so that Motto could be wholly acquired. Motto's management has acquired shares in Destiny as part of the deal.  

Mentha acquired a majority stake in Destiny alongside management in May 2016 via its vehicle Mentha Capital Fund IV. The fund typically provides equity investments of €5-15m in companies with enterprise values of €15-75m, revenues of €25-75m and EBITDA of €2-10m, according to Unquote Data. One of the key objectives of Mentha's acquisition was to realise international growth.

Destiny is a B2B telecoms company that provides telecommunication services to mid-sized businesses and organisations. It provides traditional telecoms services (VOIP, mobile, internet), unified communications, and cloud applications. The company is based in Zaventem.

Motto's integrated cloud distribution platform further refines the scalability of the Destiny offering and will help Destiny and its partners to create and manage a suitable cloud environment for customers. 

Destiny and Motto's combined revenues for 2017 equate to €42m, Unquote understands.

Company
Founded in 2007, Motto delivers an automated, scalable cloud business enablement platform for the B2B channel, offering qualified business partners a portal for bundling of real-time communication channels from themselves and the major carriers and vendors in the communications industry.

The platform supports white-labeling, ordering, provisioning, billing, invoicing and management of integrated communication services. Motto runs operations in the Netherlands, Germany and Belgium. Based in Heerlen and with a sales office in Amsterdam, the company employs a workforce of 47.

People
Mentha Capital – Edo Pfennings (partner).
Destiny – Daan de Wever (founder, CEO).
Motto Communications – Kay Reijnen (founder); Robbert Heemskerk (director).

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• Topics
• Technology
• Expansion
• Benelux
• Netherlands
• Mentha Capital