KKR, a leading global investment firm, was proud to be awarded ‘Deal of the Year’ at Mergermarket’s European M&A awards for the sale of its stake in Visma in June 2017. The deal was the largest ever software buyout in Europe, with four investors purchasing KKR’s stake in the business, valuing Visma at $5.3bn.
The foundations of the successful sale were laid during KKR’s seven-year partnership with Visma, as the company grew into a clear market leader in European Software-as-a-Service.
KKR worked closely with the Visma management team to grow the business, completing over a hundred add-on acquisitions for an aggregate enterprise value of around $1bn. Revenues grew by 19% CAGR and EBITDA margins grew from 19% to 25%, demonstrating KKR’s track record of adding value at both the top and bottom line of its investments.
Anders Borg, Director at KKR and Nordic region lead, said: “I am delighted that KKR has received such high-profile recognition from the industry for our investment and exit from Visma. We worked closely with an exceptional management team to transform Visma from an on-premise software company to a cloud-based, SaaS leader, and the successful deal was just the final step in a long track record of value creation.”
Stanislas de Joussineau, Director at KKR, said: “I would like to thank my colleagues at KKR who were involved in our investment in Visma, and our advisers on the transaction. This award is testament to their outstanding work to support the business’ growth and successfully negotiate the sale of our stake.”
Mergermarket’s European M&A awards gather senior European dealmakers to recognise the most successful transactions and corporate advisors of the year. The judging process is based on the prestigious Mergermarket league tables, with a small number of deals then shortlisted by a panel of twelve expert judges, this year including senior private equity executives, corporate M&A professionals, academics, and financial journalists.
KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit and, through its strategic manager partnerships, hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside its partners’ capital and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.