Sphera, a Genstar Capital portfolio company, has agreed to buy thinkstep. Financial terms weren’t announced. Thinkstep, of Stuttgart, Germany, provides software and consulting services company that specializes in corporate sustainability and product tewardship. Thinkstep raised about $31 million in VC funding from investors including Next47 and Gimv, according to PitchBook.
CHICAGO, July 30, 2019 /PRNewswire/ — Sphera, a global provider of Integrated Risk Management software and information services with a focus on Environmental Health & Safety, Operational Risk and Product Stewardship, announces it has entered into an agreement to acquire thinkstep, a Stuttgart, Germany-based software and consulting services company that specializes in Corporate Sustainability and Product Stewardship. The deal is pending customary German regulatory approvals for mergers and acquisitions.
In recent years, thinkstep successfully transformed its business model into a Software-as-a-Service-based solution by following an attractive growth trajectory. Combined with thinkstep’s exceptional client base, this transition allowed it to take a major step forward in the company´s development.
“thinkstep’s cloud-based and on-premise software, data and expertise in the corporate sustainability and product stewardship markets advance our mission of creating a safer, more sustainable and productive world,” said Paul Marushka, Sphera’s president and CEO. “thinkstep’s presence in EMEA and APAC extends our geographic footprint in serving our global customer base.”
thinkstep’s corporate sustainability software, implementation and consulting services simplify enterprise-wide sustainability reporting, risk management, audits, strategy and resource optimization. The company’s product stewardship software and consulting services assist in designing more sustainable products and in managing product compliance across the lifecycle.
“thinkstep offers our customers more than 30 years of experience in the field of sustainability,” said Jan Poulsen, thinkstep’s CEO. “Adding our advanced software solutions, extensive LCA and eco-profile databases, and sustainability expertise to Sphera’s Environmental Health & Safety solutions is a very attractive business combination that will allow us to serve our extensive customer base more broadly going forward. We are excited to be joining Sphera and thank our former partners Gimv and Next47 for their expertise and strategic support in developing our business model successfully.”
Terms of the pending deal were not disclosed. This press release contains projections and other forward-looking statements regarding future events.
Sphera is a global provider of Integrated Risk Management software and information services with a focus on Environmental Health & Safety (EHS), Operational Risk and Product Stewardship. For more than 30 years, Sphera has advanced Operational Excellence by serving more than 3,000 customers and over 1 million individual users across 70-plus countries to create a safer, more sustainable and productive world.
thinkstep, headquartered in Stuttgart, Germany, enables organizations worldwide to succeed sustainably. thinkstep’s software solutions, databases and consulting services help businesses drive operational excellence, exploit product innovation potential, enhance brand values and comply with regulatory issues. The company’s 20 offices worldwide serve more than 8,000 clients.
Gimv is a European investment company, listed on Euronext Brussels, with almost 40 years’ experience in private equity. The company currently has a portfolio of EUR 1.1 billion of investments in around 50 portfolio companies, with combined turnover of EUR 2.75 billion and 14,000 employees. As a recognized market leader in selected investment platforms, Gimv identifies entrepreneurial, innovative companies with high growth potential and supports them in their transformation into market leaders. Gimv’s four investment platforms are Connected Consumer, Health & Care, Smart Industries and Sustainable Cities. Each platform works with an experienced team across Gimv’s home markets of Benelux, France and DACH, supported by an extended international network of experts. Further information on Gimv can be found on www.gimv.com.
Next47 is a global venture firm created by Siemens that invests in, and partners with, entrepreneurs who think big and build industry-defining companies. With offices in Boston, Beijing, London, Munich, Paris, Palo Alto and Stockholm, Next47 gives start-ups unparalleled access to one of the world’s largest portfolios of customers in the areas of industry, energy and infrastructure as well as domain expertise in the deep technologies that impact those customers. For more information about Next47, visit https://next47.com/