CBPE scores nearly 11x return on Xceptor sale

Four years into its investment, CBPE is generating an impressive return on Xceptor, a no-code process automation market provider which it has agreed to sell to Astorg Partners.

The deal translates into a money multiple of 10.8x CBPE’s original investment and is poised to produce an IRR of 89 percent, the firm said. Arma Partners is providing sell-side financial advice on the deal.

Atorg’s new investment in Xceptor will accelerate its historical 35 percent annual growth, while further building out its broad international presence and leading customer base, the firm said in a separate release.

Xceptor, headquartered in London, has offices in New York, Cape Town and Sydney. The company provides edge process automation and data management products, helping transform back office business processes, particularly for trade confirmation, tax reclaim, fund processing and collateral management.

Since CBPE’s investment in 2017, the company has focused on investing in its product and augmenting its sales capabilities, while also building an international business with operations in Europe, North America and Asia.

Xceptor will grow Astorg’s existing tech portfolio, which currently includes three software companies: insurance software provider Acturis, intellectual property management company Anaqua, and a software maker for die-making and metal making industries, Autoform.

Astorg, headquartered in Luxembourg, is a European private equity group with total funds under management of over €9.3 billion (~$11 billion). The firm invests in global B2B companies in the US and Europe.

Astorg Mid-Cap funds back businesses valued between €150 million (~$179 million) and €400 million (~$477 million) and its Large-Cap funds invest in companies valued at €400 million (~$477 million) to €2 billion (~$2.4 billion) in value.

CBPE, based in London, invests in businesses in the UK mid-market with enterprise value of up to £150 million (~$208.5 million).