June 28, 2021
Translink Corporate Finance advised the shareholders of Contasimple, a leading Spanish Business Management SaaS provider to SMEs, self-employed and processing agencies, on its 100% sale to Grupo Primavera – an Oakley Capital portfolio company. Grupo Primavera is the largest independent provider of business software in Iberia. The transaction was closed on December 3rd, 2020 with the Parties agreeing to make the announcement public today.
Founded in 2009 and headquartered in Barcelona (Spain), Contasimple is the largest Business Management SaaS provider, in terms of revenue, total users and active users, within the freelancers and micro and small enterprises segment in Spain. Contasimple has a comprehensive and scalable suite of cloud-based invoicing, accounting, and business management products. The company has +250,000 registered users and +35,000 active users. Contasimple has been controlled by its management team since interception.
Created by the merger between Ekon Cloud Computing Solutions and Primavera Business Software Solutions in 2021, along with additional bolt-on acquisitions, Grupo Primavera is now the largest independent software platform serving SMEs in Iberia, with over 55,000 customers and some €60 million of revenues and double-digit annual growth, driven by the rapid adoption of Software as a Service (“SaaS”) solutions. The Group covers Iberia and Portuguese-speaking Africa.
Grupo Primavera will accelerate its deployment of cloud solutions organically through investment in product development and go-to-market initiatives, as well as through further acquisitions.
Grupo Primavera is a portfolio company of Oakley Capital, a mid-market private equity investor headquartered in London with €4 billion under management, investing primarily in Western European Technology, Consumer and Education sectors.
The acquisition of Contasimple will enable Grupo Primavera to acquire the know-how and user base necessary to cover the self-employed, micro, and small SME market segment in Spain.
Contact our Team Members advising in this transaction:
Dinan & Company, LLC is the partner firm of Translink Corporate Finance in the United States. It is a leading diversified financial services company with over 32 years of advisory and merchant banking experience dedicated to middle-market transactions.