Capza exits Ivnosys to PSG-backed Signaturit

PSG will become the majority shareholder in the combined entity. The founders of both Signaturit and Ivnosys will retain minority stakes in the joint group, while Capza will exit its investment.

Capza acquired a 40% stake in Ivnosys in December 2018. The company's founders and co-CEOs, Sergio Ruiz and Jaime Castelló, retained the remaining 60%.

The GP deployed capital from its Capzanine 4 Flex Equity fund, which held a final close on its €350m hard-cap in October 2016. The vehicle backs high-growth SMEs with revenues of up to €150m, and provides a mix of equity and mezzanine debt.

PSG invested in Barcelona-based Signaturit in October 2020, when it acquired a majority stake in the business, while Signaturit's founders retained a minority shareholding.

PSG is a private equity firm with a focus on mid-market software and technology-enabled service companies. It is headquartered in Boston, with further offices in Kansas City and London.

The firm is currently investing via its PSG Europe Fund, which held a final close on €1.25bn in February 2021.

Following the merger between Signaturit and Ivnosys, PSG plans to build a strong platform specialised in e-signature and digital transaction management software in Spain.

The two companies will combine and further expand their product offering, which comprises a suite of tools to securely manage digital identity and provide trust-based process, contract and transaction management, electronic identification, paperless contract execution, digital documentation management and secure digital interactions with public entities.

With more than 200 employees, the combined entity intends to serve customers of all sizes ranging from SMEs to large corporates across Europe and Latin America.

Company
Established in 2011 and based in Paterna, near Valencia, Ivnosys is a software developer that specialises in providing companies with a security and digital identity platform that enables the use of electronic signatures and safe virtual documentation.

IvSign, the company's core cloud platform, allows its users to manage and sign digital certificates, improve IT security and promote a paperless professional environment.

Ivnosys has an extensive partner network and processes around 100,000 signatures per day.

People
PSG – Dany Rammal (managing director, head of Europe at PSG); Romain Railhac (director).
Capza – José Tomás Moliner (Spain country manager).
Ivnosys – Jaime Castelló, Sergio Ruiz (co-founders, co-CEOs).
Signaturit – Juan Zamora (co-founder, CEO).

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