Triton-advised Triton Smaller Mid Cap Fund II has signed an agreement to acquire Prenax, a global subscriptions management service provider, from LBO France, a multi-specialist and multi-country investment platform.
Terms of the transactions have not been disclosed.
Founded in 1993, Prenax helps improve process efficiency by allowing corporations, libraries, museums, universities, and other clients to manage their subscriptions through an online portal.
With offices in 11 countries across the UK & Benelux, the Nordics, Southern Europe, the US, and Australia, the company manages the administration of over 340,000 subscriptions on behalf of its clients.
Triton intends to support Prenax in various ways, including additional strategic acquisitions, international expansion and further developing the company’s tech platform, particularly through increased automation.
The acquisition of Prenax marks the 9th platform investment made by the Triton Smaller Mid-Cap Fund II, which successfully closed above its fundraising target of €815m in 2021.
The fund applies Triton’s proven investment strategy to lower mid-market companies in the same core sectors of business services, industrial tech, and healthcare. It uses Triton’s in-house operational capabilities and resources to help management teams build leaders in the lower-mid market.
