Mentha Capital acquires Rapid Circle

Het Financieele Dagblad reported that the purchase price amounts to tens of millions of euros and that Mentha plans to support Rapid Circle's international growth.

The GP is currently deploying from Mentha Capital V, which held a final close in January 2017 on €143m. The fund planned to make 8-10 investments. It focuses on lower-mid-market buyouts, targeting companies with EBITDA of €2-10m and deploying equity tickets of €5-25m per investment.

The fund has a five-year investment period; Rapid Circle is its 10th platform investment, according to Unquote Data.

The deal is the GP's second of 2020: Mentha sold Belgium-based drug developer Ardena to GHO Capital Partners in January 2020, having formed the company by acquiring and merging three Benelux-based laboratories in 2017. Mentha made its last platform investment in December 2019, acquiring HR and occupational health businesses BlijWerkt and Paradigma Group.

Company
Rapid Circle provides cloud software services for businesses such as cloud workplaces, data centre migration, and data and AI projects, focusing on Microsoft products. The company was founded in 2008 and is headquartered in Amsterdam, with additional offices in Australia and India. It has 200 employees and reports revenues of €20m.

People
Mentha Capital – Haran Sold (partner).
Rapid Circle – Harold Punter (CEO).

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• Topics
• Buyouts
• Benelux
• Technology
• Netherlands
• Mentha Capital