Via Equity sells Profit Software to Volpi

The company's management will reinvest alongside Volpi. 

The sale comes six years after the GP, alongside Tesi, acquired the company from majority owner CapMan, private investors, and the company's employees, founders and management.

The deal is Volpi's ninth investment. The GP typically invests €25-75m in equity in businesses with enterprise values of €50-200m, and pursues growth through international expansion and consolidation.

Mergermarket reported in July that Via Equity had mandated Stifel for the sale of Profit Software, adding that it will be marketed based on EBITDA of around €15m.

According to public company records, Profit Software had a turnover of €24.7m in 2019, and €24.6m in 2018. Through the deal, the company is aiming for further expansion into the Nordic region.

Previous funding
CapMan in 2009 acquired a 34% stake in Profit Software. It subsequently increased its holding to around 70% through add-on investments in the early stages of owning the company.

In 2014, CapMan sold its stake in Finnish insurance software company Profit Software to Via Venture Partners, Finnish Industry Investment and the company's management.

Company
Founded in 1992 and based in Espoo, Profit Software is an independent software vendor and IT consultancy focusing on banks and insurance companies. The company has five additional offices in Finland, Sweden and Estonia. It employs 250 staff. 

People
Profit Software – Ilkka Starck (CEO).
Via Equity – Benjamin Kramarz (partner).
Volpi – Marco Sodi (partner)

Advisers
Vendor – Krogerus (legal); Stifel (M&A).
Equity – Roschier (legal). 

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• Buyouts
• Nordics
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• Finland
• Volpi Capital