- Investment supports team.blue's position as
Europe's leading digital enabler
for entrepreneurs and SMBs (Small and Medium-sized
Businesses).
- The transaction values team.blue at €4.8bn making it
one of the largest privately owned technology companies in
Europe, serving
3.3m SMBs/entrepreneurs
across 22 European countries with an unbroken
20y+ growth track record.
- The investment is a significant milestone for the team,
implying growth of eight-times since Hg first invested in 2019.
Today team.blue has more than 2,500 fully committed
colleagues, including many tech entrepreneurs who have joined the
group and continue to build the business.
- This new investment will support team.blue's growth
strategy, underpinned by a vision to provide ever more valuable
online tools for businesses, with further AI-led product
innovation.
- CPP Investments joins Hg as well as founder and President of
team.blue Jonas Dhaenens and
co-founder Ali Niknam, who remain
cornerstone investors alongside the wider management team led by
CEO Claudio Corbetta.
- Hg will provide further funds to fuel product innovation and
expansion through acquisitions.
GENT, Belgium, July 10,
2024 /CNW/ - team.blue, Europe's leading digital enabler for
entrepreneurs and SMBs, today welcomes a significant investment
from Canada Pension Plan Investment Board ("CPP Investments".)
Today the business represents one of the largest European
digital solution providers to 3.3m SMB customers across
22 countries. team.blue continues expanding its product
offering to cover all end-to-end and evolving needs of customers,
helping them to remain relevant, competitive and successful
end-to-end in their digital journey. These solutions are designed
to enhance security, ensure GDPR compliance, boost visitor
attraction and conversion rates, improve customer engagement
through various marketing tools, and assist in both online and
offline commerce strategies.
The transaction values team.blue at €4.8bn making it one of the
largest privately owned technology companies in Europe. This investment represents an
important milestone for the team.blue group - today team.blue
has more than 2,500 fully committed colleagues, including many tech
entrepreneurs that have joined, and thrived, with the business over
the past five years to continue its dynamic culture. team.blue is
actively investing in innovative products by joining forces with
leading SaaS companies in Europe
that share the same vision.
Jonas Dhaenens, Founder and
President, Claudio Corbetta, CEO,
and Dawn Marriott, Executive Chair
of team.blue said: "This is a truly significant moment
for our team and the many entrepreneurs who have joined us over the
years. We are delighted to welcome CPP Investments, a leading
global institutional investor with values that closely align with
our own. CPP Investment's approach as a long-term patient capital
investor is perfectly suited to our vision for sustained growth.
Alongside our existing shareholders, CPP Investments recognises the
growth ahead, underpinned by our plan to provide increasingly
relevant online tools for businesses. We thank Hg for their
continued support and warmly welcome CPP Investments as we pursue
our ambitious growth plans together."
"team.blue operates in an attractive, resilient and growing
online presence sector. Under its current leadership, the business
has executed on a successful M&A strategy to expand its product
offerings and local presence across multiple European countries,"
said Hafiz Lalani, Managing
Director, Global Head of Direct Private Equity, CPP
Investments. "We look forward to working alongside Hg, a
long-standing partner to CPP Investments, and the team.blue
founders and leadership team, to support the platform as it
continues on its journey to deliver on multiple growth vectors by
expanding its portfolio of SaaS solutions, while delivering
attractive risk-adjusted returns for CPP contributors and
beneficiaries."
Joris Van Gool,
Nick Jordan and Matthijs Deroo at Hg said: "It's
been incredible to see our thesis play out over the last five
years, with team.blue evolving into one of the largest tech
platforms in Europe. Together we
are building a multibillion category leader, offering multiple
propositions for an ever-wider group of SMBs, enabling both online
presence and better business success. We are proud of these
achievements, partnering with multiple entrepreneurs who are now
part of the group, and with ambitious plans to welcome many more in
years to come. And today we welcome CPP Investments as a new
partner, whose well-placed trust in a highly capable management
supports a strong outlook for growth."
CPP Investments has committed approximately €550 million to
acquire a ~20% interest in team.blue. Hg remains the largest single
investor in team.blue.
team.blue was advised by Arma Partners, EY, Bain, Deloitte,
Linklaters and BearingPoint; team.blue's shareholders were advised
by Harris Williams, KPMG,
MacFarlanes and Norbruis Clement; and CPP Investments was advised
by Kirkland & Ellis, JP Morgan, OC&C, Palo Alto Strategy
Group and KPMG.
This transaction has been signed and is subject to customary
conditions and regulatory approvals.
About team.blue
team.blue is a leading digital enabler for businesses and
entrepreneurs across Europe
(Belgium, Bulgaria, Cyprus, Czechia, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, The
Netherlands, Portugal,
Serbia, Slovakia, Spain, Sweden, Switzerland, Türkiye and United Kingdom). The company is made up of 60+
successful brands who serve 3,3 million customers. team.blue is a
one-stop partner for web hosting, domains, e-commerce, online
compliance, lead generation and application solutions, supported by
more than 2.500 experts. team.blue's vision is to make online
business simpler by shaping technology and providing customers with
innovative online products and services.
About CPP Investments
Canada Pension Plan Investment Board (CPP Investments™) is a
professional investment management organization that manages the
Fund in the best interest of the more than 22 million contributors
and beneficiaries of the Canada Pension Plan. In order to build
diversified portfolios of assets, investments are made around the
world in public equities, private equities, real estate,
infrastructure and fixed income. Headquartered in Toronto, with offices in Hong Kong, London, Mumbai, New York
City, San Francisco, São
Paulo and Sydney, CPP Investments
is governed and managed independently of the Canada Pension Plan
and at arm's length from governments. At March 31, 2024, the Fund totalled $632.3 billion. For more information, please
visit www.cppinvestments.com or follow us
on LinkedIn, Instagram or on
X @CPPInvestments.
About Hg
Hg supports the building of sector-leading enterprises that
supply businesses with critical software applications or workflow
services, delivering a more automated workplace for their
customers. This industry is characterised by digitization trends
that are in early stages of adoption and are set to transform the
workplace for professionals over decades to come. Hg's support
combines deep end-market knowledge with world class operational
resources, together providing compelling support to entrepreneurial
leaders looking to scale their business – businesses that are well
invested, enduring and serve their customers well.
With a vast European network and strong presence across
North America, Hg's 400 employees
and around $70 billion in funds under
management support a portfolio of around 50 businesses, worth over
$150 billion aggregate enterprise
value, with around 110,000 employees, consistently growing revenues
at more than 20% annually. https://hgcapital.com/
SOURCE Canada Pension Plan Investment Board