EMH buys majority stake in Cleverbridge

The company's management team and founders are also participating in the deal, EMH said in a statement.

The GP is deploying equity via EMH Growth Fund II, which held a final close on its hard-cap of €650m in October 2020. The GP invests in DACH-based technology, healthcare and business services companies with revenues of around €50-500m and EBITDA of €5-50m. The firm targets small-cap deals in the €30-50m range, as well as mid-market €150-200m deals, with a sweet spot of €50-150m.

EMH intends to support the company in the development of its cloud-based platform, as well as with market consolidation.

Click here to read a profile of EMH Partners on Unquote.com.

Company
Cleverbridge, founded in 2005, is a software platform that provides subscription billing and management services for e-commerce companies. Its software allows businesses to monitor payments and customer services, as well as global tax and regulatory compliance. Its clients include Dell, McAffee, Dassault Systemes and Sony, according to its website.

The company employs 300 staff and has offices in Chicago, Tokyo and Taipei, in addition to its Cologne headquarters. It generated revenues of almost €566m in 2019, compared with €523m in 2018. Its annual profit rose from -€28m in 2018 to €23m in 2019.

People
EMH Partners – Dominik Schwarz (partner).
Cleverbridge – Craig Vondik (CEO, co-founder).

Advisers
Equity – Raymond James (corporate finance); PwC (financial due diligence); Milbank (legal); Crosslake (technology due diligence).

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