Ardian Growth and MCH Private Equity have jointly acquired Logalty, a legaltech company. Existing investor Swen Capital Partners participated in the transaction.
Madrid, April 19, 2021 – Ardian Growth has teamed up with MCH Private Equity, a leading Spanish mid-market private equity firm, to acquire the legaltech company, Logalty. Swen Capital Partner, a long-term investor in MCH, also participated in the transaction.
Founded in 2005, Logalty is responsible for ensuring the legal security of online transactions by providing digital identity and contractual flow solutions with distributed interposition. To meet the highest standards of cyber-security and compliance, Logalty provides large corporates with legal security through effective electronic evidence.
In the last two years, the company has seen 20% growth in sales year-on-year and has doubled its EBITDA. It client base includes some of the leading financial institutions in Spain.
Through this investment by MCH Private Equity as leader of the transaction and Ardian Growth, the group is aiming in 2021 to consolidate its position in its domestic market and accelerate its international development, particularly in Mexico and Portugal. The company aims to develop new technological blocks, expand its offer in the SME market and strengthen its positioning with blue chip customers. In 2020, Logalty maintained its profitable growth, successfully coping an increasing number of data exchanges.
MCH PE and Ardian Growth have enjoyed a close relationship for several years and have highly complementary expertise. Logalty will be able to leverage MCH PE’s deep understanding of the Spanish market, after more than 20 years’ experience transforming leading companies in their respective industries, as well as Ardian Growth’s digital expertise scaling up companies with double-digit growth.
Andrés Peláez, Senior Partner at MCH Private Equity, comments: “Logalty is the only Spanish player to have penetrated major accounts and managed to maintain long-lasting relationships. It is a very attractive company with great potential in a market that is in the process of consolidation. Together with Ardian Growth, we are confident that we will be able to take the company to new levels of growth.”
Bertrand Schapiro, Director in the Ardian Growth team, added: “Logalty has built an impressive tech platform able to support customers’ growing needs, while simultaneously reaching new markets. We’re delighted to leverage our pan-European footprint and our ecosystem of entrepreneurs to support the management’s ambitious growth strategy.”
Gonzalo Fernandez Albiñana, Managing Director at Ardian Spain completed: “Investing alongside MCH, one of the leading Spanish mid-market funds, with whom we have a long-standing relationship, and whose approach is complementary to that of Ardian Growth, is an exciting opportunity.”
Established in 2005 as the first Spanish Legaltech, Logalty acts as a provider of services for generating proof by interposition in online transactions, ensuring that transactions are secure, unalterable and with full probative value. Since its foundation, the Company has registered +38 million electronic signatures and +25 million certified communications in +147 countries, as well as generating +58 million notarized electronic documents and evidence.
MCH is a Spanish private equity firm founded in 1998 that manages more than 1.2 billion euros through different funds, being one of the leading firms in the Spanish mid-market and one of the five largest independent private equity groups in Spain. MCH is currently investing its fifth fund with a target size of 400 million euros. The funds focus their activity on acquiring significant stakes in companies of relevant size in the Iberian Peninsula, pioneers in their corresponding markets and managed by solid professional teams, with the aim of boosting their growth and internationalization.
Ardian is a world-leading private investment house with assets of US$110bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world. Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 700 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of more than 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
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ABOUT SWEN CAPITAL PARTNERS
SWEN Capital Partners is a benchmark player in the field of sustainable private equity investment in Europe; it has over €5.8bn* of assets under management through multi-strategy and direct strategy approaches based on its investment convictions in several asset classes and embedded in the services it offers. The investment firm is owned by the OFI Group, ARKEA and its employees; it has always placed ESG and Climate issues at the very heart of its approach to investment and offers its clients a range of innovative and sustainable investment solutions. SWEN Capital Partners provides support for entrepreneurs and its partners in a process of accompaniment on social, societal and/or environmental issues, which in its view is essential for useful finance.
* Calculated as the amount of cumulative commitments