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Investment company EMERAM sells its portfolio company Matrix42 to Corten Capital
Funds advised by EMERAM Capital Partners, one of the leading investment companies for medium-sized companies in the German-speaking region (“EMERAM”), sell their portfolio company Matrix42 to the private equity firm Corten Capital. The transaction has now been closed.
During EMERAM’s holding period, the management team around CEO Oliver Bendig, has managed to substantially grow Matrix42’s revenues and profitability organically as well as through strategic add-on acquisitions while repositioning the company from a perpetual license model to a SaaS model thereby increasing the share of recurring revenues. The team also successfully executed an internationalisation strategy through partner-first concept (indirect sales) in key markets outside DACH, most notably France, Italy and the US.
Kai Köppen, Senior Partner at EMERAM, added: “Matrix42 has developed extraordinarily strong over the past years. Today, Matrix42 is a true leader in its verticals Enterprise Service Management and Secure Unified Endpoint Management while having expanded beyond its core DACH market. CEO Oliver Bendig and the team have done an excellent job strengthening Matrix42’s market position, offering businesses the opportunity to stay ahead of the curve when it comes to digitalization. Matrix42 is a great example how Management Teams and investors can work together to push business development.”
“I am immensely proud of what the Matrix42 team have achieved,” said Oliver Bendig, Matrix42 CEO. “The COVID19 pandemic has been a catalyst for the Digital Workspace market. Matrix42 is at the centre of this revolution. With our solutions, we will continue to support customers to simplify and secure their digital work and to help them through their digital transformation. Matrix42 has strengthened its market positioning over the years through continuous product development, add on acquisitions and internationalisation. My thanks to EMERAM for helping our company reach these important milestones.”
The purchase price is subject to confidentiality. EMERAM was advised by GLNS, EY, Robert W. Baird & Co. and Raymond James.
Founded in 1992 and headquartered in Frankfurt, Germany, Matrix42 provides innovative solutions for digital workspace management and was recently ranked the top vendor for Enterprise Service Management and Secure Unified Endpoint Management. The Matrix42 platform, used by more than 5,000 customers worldwide, automates mission-critical IT and business support processes, license and cloud expense management, and related enterprise workflows, while delivering operational efficiencies and enhanced employee experiences. Matrix42 provides a secure, scalable, user-friendly, and easy to implement solution to a wide range of organisations across Europe and North America.
EMERAM is one of the leading investment companies for medium-sized companies in the German-speaking region. Funds advised by EMERAM currently provide 400 million euros of capital for the development of companies. The portfolio includes companies from the consumer, technology/software and services sectors.
EMERAM acts as a long-term business development partner for its companies and supports the sustainable growth (organic and inorganic) of its portfolio companies. Currently, the portfolio contains 6 platform investments, which generated continuously double-digit organic sales growth rates. Additionally, through more than 20 add on acquisitions significant in-organic growth and international expansion came on top.