Battery Ventures, a global, technology-focused investment firm, has reinvested in Forterro, a European provider of enterprise-resource planning (ERP) software for the industrial mid-market.
With the investment, Battery now holds a significant minority share of Forterro, a company the firm previously built into a multi-national, European software provider and subsequently sold to Partners Group, a leading private markets firm (acting on behalf of its clients), for €1 billion earlier this year.
Battery will continue to be actively involved in helping to scale Forterro as the company pursues its vision for growth under Partners Group’s ownership. As part of the deal, Tabors and Battery Principal Zak Ewen will serve as observers on the Forterro board. Battery will also continue to serve as a corporate-development resource, helping to define the company’s new acquisition strategy, research potential targets and execute transactions.
Under Battery’s ownership, Forterro completed 14 acquisitions across six countries, including France, Germany, Poland, Sweden, Switzerland and The United Kingdom, and grew its annual recurring revenue over 10 times.
