Vallis Capital sells Vortal to Stirling Square's Docu Nordic
Docu Nordic, a Swedish business intelligence company owned by Stirling Square Capital, has acquired Vortal, a Portuguese e-sourcing specialist backed by private equity firm Vallis Capital Partners.
Following the deal, Vortal will maintain its autonomy and continue to operate under its own brand. The management team, led by CEO Miguel Sobral, will stay on with the business.
Stirling Square intends to support Vortal in expanding its business in current and new markets.
The GP acquired Docu Nordic via its €600m third fund from Swedish GP Segulah in August 2017. The deal ended a three-year holding period for Segulah, which had bought the business from its parent company Docu Group in a management buyout inked in August 2014.
Headquartered in Ljusdal, Sweden, Docu Nordic also has operations in Denmark, Norway and Finland. It provides business intelligence and data analytics and employs 250 staff.
Vallis first invested in Vortal in September 2015, when it acquired a 17.63% stake in the company via its €75m Vallis Sustainable Investments I fund.
Subsequently, the firm bought an additional 36.65% stake in Vortal from Novo Banco in October 2017, reaching total ownership of 54.3%. Netcorp, the investment vehicle used by the management team, retained a 21% holding, while minority stakes were acquired by venture capital firm Pathena and Meo fund.
Company
Established in 2000 and headquartered in Lisbon, Vortal provides a software-as-a-service platform that offers companies and public institutions with digital sourcing, procurement and invoicing, as well as data analysis, project management, performance monitoring and ERP integration.
The company serves 10,000 customers and employs 200 staff across its offices located in Portugal, Spain, Germany, Italy and Latin America.
Vortal generates annual revenues in excess of €11m and EBITDA of around €5m.
People
Vallis Capital Partners – Eduardo Rocha (CEO).
Stirling Square Capital Partners – Henrik Lif (partner).
Vortal – Miguel Sobral (CEO).
Docu Nordic – Stefan Lindqvist (CEO).
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