The Fund acquired Prenax through a portfolio transaction with Skandia Liv in 2005. Since then, revenues have more than doubled and reached Skr 700m (€70m) in 2011. This has been achieved through organic growth and four add-on acquisitions of companies such as Legal Library Services in the UK and IS Abonnements in France. Prenax has also increased its international presence considerably by establishing offices in countries such as Australia and Singapore. In 2005, 10% of revenues originated outside of Sweden and by 2011 this share had grown to 80%. Over the same time period, the number of employees grew from 70 to 133.
“Verdane has been instrumental in transforming Prenax”, said Mats Edlund, Chairman of the Board and CEO of Prenax between 2005 and 2011. “Verdane has driven international acquisitions and our strategy to focus on corporate clients, who tend to be more demanding in terms of customisation than the traditional library customer base.”
About Prenax
Prenax Global AB (Prenax) is a subscription management services company that operates as a key commercial and fulfilment channel between publishers and their customers. Prenax provides administrative services for managing printed and electronic subscriptions. The company has operations in Australia, France, Singapore, Sweden, the UK and the US.
About Verdane
Verdane is a specialist growth investment firm that partners with tech-enabled and sustainable European businesses. Verdane can invest as a minority or majority investor, either in single companies or through portfolios of companies, and looks to deploy inside two core growth themes; digitalisation and decarbonisation.
Verdane funds hold over €6 billion in total commitments and have made over 400 investments in fast-growing businesses since 2003. Verdane’s team of over 140 investment professionals and operating experts, based out of Berlin, Munich, Copenhagen, Helsinki, London, Oslo and Stockholm, is dedicated to being the preferred growth partner to tech-enabled and sustainable businesses in Europe.
Verdane is also a certified B Corporation, the most ambitious sustainability accreditation 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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