After seeking a new partner to deliver on its future business plan, Version 1 has announced that Partners Group will become its majority shareholder.
Version 1 has been owned by Volpi Capital since 2017 and has seen revenues triple to over €240m in this five-year period.
CEO Tom O’Connor (pictured) and the Management Team will remain in place and a bonus for all employees, 2,000 people, to recognise the transaction was also announced.
O’Connor said: “Partners Group’s sectoral knowledge and international reach will be as important to Version 1 as their investment and endorsement of our growth strategy.”
Kim Nguyen, Partner, Co-Head Private Equity Services, Partners Group, added: “We have been tracking Version 1 through our thematic focus on digital transformation. The Company is well positioned to capitalize on the tailwinds driving increased digitisation across both the private and public sector and we have conviction in its growth prospects.”
Subject to customary approvals, the transaction is expected to complete by mid-2022.