Battery exits Forterro to Partners Group for EUR 1bn

The GP mandated Arma Partners to run a sale process with information memoranda distributed by late February, reported Unquote's sister publication Mergermarket. 

Forterro has EBITDA of around EUR 50m and close to EUR 200m revenues, according to the report, with the EUR 1bn price tag implying an entry multiple of around 20x EBITDA. 

Battery Ventures first invested in Forterro in 2012. It had to shelve a sale process in 2018 due to concerns about the integrations of the company's acquisitions, reported Mergermarket. 

Forterro CEO Dean Forbes said that the Partners Group acquisition will help it move towards a "unified, subscription-based and cloud-ready" ERP platform, according to a press release.

Partners said in a statement that key initiatives include accelerating organic growth by expanding go-to-market initiatives, making strategic acquisitions in adjacent geographies and sub-verticals, including cloud offerings where appropriate, and improving operational efficiency.

The company
Founded 10 years ago, Forterro is a pan-European provider of ERP software for the industrial midmarket. The company has 11 brands and serves more than 10,000 customers, employing over 1,200 staff globally across 40+ office locations.

It has offices located in the UK, Sweden, France, Switzerland, Germany and Poland.

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