Verdane, the European specialist growth buyout investment firm, today announced that it has acquired a portfolio of ownership stakes in four technology businesses from Trifork Labs, the venture-financed R&D division of Trifork Group.
The transaction will see Verdane partner with Axoniq, the pioneer in event-sourcing architecture; Dawn Health, a patient-centric digital health business; and Frameo, the biggest software provider for WiFi photo frames in the world.
These partnerships will be enabled by a joint ownership structure alongside Trifork Group. Verdane has also directly acquired an ownership stake in XCI, a cybersecurity business delivering communication intelligence solutions.
Through this transaction, Verdane will partner with the companies’ management teams, helping them to continue their growth with the support of Verdane’s in-house operational advisors in all functions needed to scale including go-to-market, data, finance and talent.
The acquisition draws on Verdane’s more than 20 years of experience carrying out over 50 portfolio deals. The flexible mandates of Verdane’s Freya funds allow the firm to source these complex transactions. Verdane’s unique approach allows it to work with listed companies and offer sellers access to liquidity solutions.
Emanuel Johnsson, Partner at Verdane, said: “Trifork’s strong track record of building and investing in tech companies at the early stage of development is an excellent fit with Verdane’s focus on companies that have proven their global potential at scale. We will now introduce our expertise and deep investment capacity to Axoniq, Dawn Health, Frameo, and XCI and help them grow to the next level. We hope to be able to increase our stakes in these companies over time, but we also see other high-potential companies in Trifork Labs that we could partner with in the future,”
Trifork Group Founder and CEO Jørn Larsen said: “Today is a very good day for Trifork Group. Solid performance across the Labs portfolio has resulted in consistently increasing unrealized gains over the years. We now had the opportunity to realize some of these values while maintaining long-term upside exposure, and to allocate the proceeds to our core business and to our shareholders. Since the IPO in 2021, the portfolio has now realized net cash proceeds of EUR 44 million after deducting invested capital, management costs, and impairments. Over the last 10 years, the profit is EUR 114 million – all from very modest amounts of invested capital.
We have found a skilled, resourceful, and recognized partner in Verdane – not just for Trifork, but also for the four Labs companies included in this transaction. I look forward to seeing the partnership with Verdane come to fruition in the coming years, and to work towards the next exits we already see on the horizon.”
About Trifork Group
Trifork (Nasdaq Copenhagen: TRIFOR) is a global technology company specializing in designing, building, and operating advanced software for enterprise and public sector customers. With 1,102 FTEs across 16 countries, Trifork serves as an end-to-end technology partner to organizations in complex and regulated industries, including public administration, healthcare, financial services, energy, and aviation.
Learn more at trifork.com
About Verdane
Verdane is a specialist growth buyout investment firm that partners with tech-enabled and sustainable businesses that help to digitalise and decarbonise the European economy. The flexible mandates of Verdane funds allow it to invest as a majority or minority control investor, replacement or growth capital, in single companies or in portfolios of companies.
Verdane has raised €10 billion in capital and its funds have made more than 200 investments in fast-growing businesses since 2003. Verdane’s team of over 180 investment professionals and operating experts is based out of Berlin, Copenhagen, London, Helsinki, Munich, Oslo and Stockholm and combines deep sector expertise with long-standing local networks and presence in core European markets.
Verdane is also a certified B Corporation, one of the most ambitious sustainability accreditations globally. The firm only backs businesses that pass its 2040 test, which indicates whether the company can thrive in a more sustainable future economy.
Verdane is partly owned by the Verdane Foundation, which is focused on two areas: climate change and more equitable and inclusive local communities.
More info: www.verdane.com
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