Transaction marks the second realization achieved by LEA’s EUR 200 million B2B tech fund focusing on software companies in the DACH region
Karlsruhe, Germany, November 10, 2020 – German technology investor LEA Partners (“LEA”) today announced that it has agreed to the sale of IDL, a leading provider of financial performance management software, to insightsoftware, a global provider of enterprise software solutions for the Office of the CFO. insightsoftware is backed by TA Associates and Genstar Capital. The terms of the transaction were not disclosed. The transaction is expected to close later this year, following regulatory approval.
Founded in 1990 and headquartered in Germany, IDL offers a financial performance management suite, including software solutions for financial consolidation, planning, reporting and analytics. IDL is a recognized market leader by the European Business Application Research Center (BARC) with a #1 ranking in portfolio capabilities, serving mid-sized and enterprise customers in a diverse range of industries.
LEA partnered with IDL in early 2019, in line with its strategy to invest in software companies with leading market positions, substantial growth potential and high levels of recurring revenue. LEA recognized the unique strategic position of the business, selling mission-critical software into the Office of Finance with a strong installed base of loyal customers. LEA supported IDL in its transition from a founder led business into a leading FPM software vendor in the DACH region. Key initiatives included an expansion of the management team, setting up of a sales and consulting partner channel and implementation of a comprehensive M&A strategy. Over this period, IDL expanded its customer base extensively and experienced material acceleration of revenue and EBITDA growth.
Bernward Egenolf, founder of IDL, said:
“Our decision to partner with LEA to prepare the company for the next level has been proven right. The operational initiatives we started were extremely valuable, whilst the M&A activity helped to expand and complete our product portfolio. We significantly accelerated IDL’s business and benefited from LEA’s support during this tenure. We now look forward to further internationalize our business and to benefit from insightsoftware’s network across the globe.”
Sebastian Müller, founder of LEA, said:
“We strongly supported the IDL team to accelerate growth during our investment period, including a variety of strategic projects covering technology, sales & marketing and value enhancing acquisitions. We have truly enjoyed working with the entire IDL team and are delighted that IDL can continue its successful journey with insightsoftware, a true global leader of financial reporting and enterprise performance management software.”
Following the exit of BELLIN to Coupa Software in June 2020, the transaction already marks the second strategic exit out of LEA’s EUR 200 million Mittelstandspartner fund this year. LEA was advised on this transaction by GCA Altium and Milbank.