Hg-backed Transporeon bolts on ControlPay

The add-on intends to expand Transporeon's service offering, incorporating payment services in addition to its current software portfolio, which includes freight sourcing, time slot management and market intelligence. One third of ConttrolPay's client base already uses Transporeon's software, according to a statement.

Hg acquired Transporeon from its previous majority owner TPG Capital in January 2019 in a deal valued at more than €700m. TPG had bought Transporeon in August 2016 from The Riverside Company, which acquired the business in July 2011.

Hg invested in Transporeon via Hg Capital 8, which held a final close in February 2017 on £2.5bn. HgCapital Trust also invested £35m in the business. Unquote sister publication Mergermarket reported in February 2019 that Hg had rolled over Transporeon's unitranche facility from BlueBay and its rolling credit facility from Berenberg to finance the deal, increasing the leverage to 7x at €230m.

Company
ControlPay provides software to manage freight audit and finance processes for shippers and carriers. Its client base includes companies from the automotive, consumer and healthcare sectors. The company was founded in 2002 and has 275 employees. It is headquartered in Breda in the Netherlands, and also has operations in the US and Brazil.

People
Hg – Stefan Margolis (director); Justin von Simson (managing partner); Jean-Baptiste Brian (partner).
Transporeon – Stephan Sieber (CEO).
ControlPay – Bram Wegh (CEO); Karen Kinds (founder).

Advisers
Acquirer – EY (legal). 
Company – Axeco (corporate finance).

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• Topics
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