Private investment firms Ardian Growth and MCH Private Equity have teamed up to acquire Logalty, an electronic signature company.
Swen Capital Partners, a long-term investor of MCH, also contributed to the investment.
With the support of Ardian and MCH, Logalty hopes to consolidate its position in Spain and bolster its international growth, with a focus on Mexico and Portugal.
The RegTech company hopes to build new technological capabilities, expand its reach in the SME market and provide its services to more blue chip customers.
Founded in 2005, Logalty helps ensure legal security of online transactions through digital identity and electronic signatures for contracts. The Spanish company’s digital identification services include video identification and ID card identity validation.
Its clients include Santander, Mercedes Benz, BBVA, Sabadell Consumer and Grupo Planeta.
For the past two years, the RegTech has experienced 20% growth in sales year-over-year and doubled its EBITDA.
MCH Private Equity senior partner Andrés Peláez said, “Logalty is the only Spanish player to have penetrated major accounts and managed to maintain long-lasting relationships.
“It is a very attractive company with great potential in a market that is in the process of consolidation. Together with Ardian Growth, we are confident that we will be able to take the company to new levels of growth.”
Ardian recently closed its seventh buyout fund on €7.5bn, with €1bn of that coming from co-investments.
The vehicle is aimed at businesses operating within healthcare, food value chain and technology.
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