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Marlin Equity buys Wax Digital

Marlin Equity Partners has completed its buy of Wax Digital. Financial terms weren’t announced. Wax Digital, of London, provides sourcing and procurement solutions. August Equity acquired Wax Digital in 2015, according to PitchBook.

PRESS RELEASE
Marlin portfolio company Medius acquires Wax Digital
LOS ANGELES and LONDON, November 19, 2019 – Marlin Equity Partners (“Marlin”) is pleased to announce that it has acquired Wax Digital (“Wax”), a leading provider of sourcing and procurement solutions. The company’s innovative procurement and spend management software allows organizations to reduce costs, control spend, improve compliance and minimize risk throughout the purchasing lifecycle. Wax will be merged with Medius AB (“Medius”), a Marlin portfolio company, transforming Medius from a market-leading accounts payable-focused solution into a comprehensive product suite with full source-to-pay capabilities, while also significantly expanding the company’s European footprint.
“The decision to join forces with Wax underscores Medius’ commitment to supporting our customers’ eProcurement needs,” said Per Akerberg, CEO of Medius. “We firmly believe Wax strengthens our product capabilities and provides a unique suite of solutions to continue to accelerate our growth globally.”
“Wax is delighted to have found a highly complementary partner in Medius who shares our mission of delivering best-in-class source-to-pay software solutions,” said Paul Ellis, CEO of Wax. “The acquisition combines two market-leading cloud offerings to create a business of scale, and we look forward to working with the Medius team to help drive our next phase of growth.”
“The acquisition of Wax is highly complementary to Medius and allows the respective customers of both companies to benefit from a fully integrated, best-of-breed solution,” said Jan-Olivier Fillols, a managing director at Marlin. “We are thrilled to welcome the Wax team and are committed to fostering the combined company’s shared vision of helping organizations increase efficiencies across the entire source-to-pay value chain.”
About Marlin Equity Partners
Marlin Equity Partners is a global investment firm with over $6.7 billion of capital under management. The firm is focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs. Marlin invests in businesses across multiple industries where its capital base, industry relationships and extensive network of operational resources significantly strengthen a company’s outlook and enhance value. Since its inception, Marlin, through its group of funds and related companies, has successfully completed over 150 acquisitions. The firm is headquartered in Los Angeles, California with an additional office in London. For more information, please visit www.marlinequity.com.
About Medius
Medius is a provider of cloud-based accounts payable automation software that allows customers to automate and efficiently manage their invoice management process. The company serves more than 3,000 customers and 200,000+ unique users worldwide. Headquartered in Sweden, Medius employs accounts payable invoice automation experts globally across offices located in Sweden, the United States, Norway, Denmark, Poland, the Netherlands, Malaysia and Australia. For more information, please visit www.mediusflow.com.
For additional information, please contact Peter Spasov at (310) 364-0100 or via e-mail at pspasov@marlinequity.com.