Monterro buys majority stake in MaintMaster

According to Swedish tech publication DI Digital, the private equity firm bought just over half of the company's equity for around SEK 100m, giving the software company a valuation of around SEK 200m. The involved parties declined to comment on the deal value.

At the same time, state-owned fund Almi Invest, which had owned a 10% stake in MaintMaster since 2015, fully exited the company. The VC said it achieved a return of 7x its invested capital. 

Monterro is currently deploying equity from its third fund, Monterro 3, which held a final close on SEK 2.5bn (€240m) in January 2019. The vehicle invests in Nordic B2B companies with turnovers of SEK 25-250m.

The acquisition will enable the software company to accelerate its growth across Europe, as well as its product development.

Company
Founded in 2012 and based in Linköping, MaintMaster is a B2B provider of computerised maintenance management systems (CCMS). The company employs fewer than 50 staff, according to its LinkedIn page. MaintMaster reported a turnover of SEK 31.5m (€3m) in 2019. 

People
Monterro – Peter Larsson (managing partner).
MaintMaster – Peter Barkland (founder, CEO); Hans Åberg (investor, board chairman).  

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• Topics
• Buyouts
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• Small-cap buyout