CVC Credit is pleased to announce that it has provided senior debt facilities to support leading global private markets firm Partners Group, acting on behalf of its clients, in its acquisition of Forterro Group ("Forterro"), a pan-European software services provider for small and mid-sized manufacturing businesses.
Founded in 2012 and headquartered in London, Forterro has a portfolio of 11 Enterprise Resource Planning ("ERP") software brands, serving over 10,000 customers primarily in the manufacturing space. The Company's software products offer functionality and serve various manufacturing sub-verticals, which has differentiated its solutions from competitors and fostered a loyal customer base. Forterro has over 1,200 employees across its European offices – located in the UK, Sweden, France, Switzerland, Germany and Poland. The ERP software market benefits from structural tailwinds driven by long-term digitisation trends and is expected to experience attractive growth in the coming years. Forterro's strong portfolio of brands and geographic reach position it well to capitalise on this growth.
We are confident that, with Partners Group's entrepreneurial governance approach and focus on value creation, Forterro will go from strength-to-strength.Tom Hayhurst
Tom Hayhurst, Director at CVC Credit, commented: "Forterro is an ambitious company that has secured a strong position in the European market serving small-to-mid-sized manufacturers. With a loyal customer base and a suite of top-quality products, we are confident that, with Partners Group's entrepreneurial governance approach and focus on value creation, Forterro will go from strength-to-strength, continuing to build on its successful growth strategy."
John Empson, Partner and Co-Head of Private Credit at CVC Credit, commented: "I am delighted that the global reach, expertise, and experience of our credit and technology teams helped to secure CVC Credit a lead position in this lending group. Our aim is always to partner with top-quality sponsors and back strong, stable businesses, as demonstrated with this transaction."