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Carlyle set to make majority investment in GBTEC Software AG
Wed, 29th Nov 2023

Global investment firm Carlyle is set to make a majority investment in GBTEC Software AG and its subsidiaries. The deal will see the software vendor strengthen its position as a top provider of business process management (BPM) and governance, risk, and compliance (GRC) software, according to a statement from the company.

Gregor Greinke, Founder and current CEO of GBTEC, will maintain his position while also remaining the largest private shareholder. In a shift of company structure, Main Capital Partners will sell its majority stake in GBTEC. Known for backing the high-tech software provider since 2019, the details of this transaction are not yet available for public consideration.

GBTEC Software AG differentiates itself in the market through its modern, user-friendly products such as no-code and low-code technologies. The company's innovative approach has caught the attention of top technology analysts who applaud for its industry-leading service.

With approximately 300 employees, GBTEC has acquired over 1,200 customers that include large blue-chip enterprises and public institutions across Europe and beyond. Recent expansion has seen the establishment of new branches in Spain, Australia, and Asia-Pacific regions.

The current investment venture will continue to drive GBTEC's growth, mainly focusing on advancing its global expansion and product portfolio. Specific attention will be given to developing the digital process automation aspect of the business. Areas targeted for reinvestment include sales, marketing, and artificial intelligence.

Listed as a provider in Carlyle's Europe Technology Partners (CETP) portfolio, the three-billion-dollar fund supports a variety of technology companies throughout Europe. CETP prides itself in its long, successful history of assisting the upward growth and internationalisation of European software companies.

Gregor Greinke spoke positively about the new partnership with Carlyle, "With Carlyle's investment, we are now entering the next phase of GBTEC's growth journey. We believe Carlyle, one of the leading technology investors, is the perfect partner to support us in realizing our growth ambitions. We would like to thank Main Capital Partners for the excellent cooperation and partnership over the last four years."

Expressing equal enthusiasm, Michael Wand, Managing Director and Co-Head of the CETP investment advisory team, stated, "GBTEC is well placed to benefit from one of the most important technology trends, digital transformation and, specifically, the automation of business processes. We believe that with our more than 20 years of experience in infrastructure software investments and supporting the internationalization of European software companies, we can be a key contributor to GBTEC's growth into a global market leader."

Finally, Sven van Berge Henegouwen, Managing Partner at Main Capital Partners, reflected on the company's trajectory. "GBTEC's performance over the last years has been impressive. We believe Carlyle is investing in a very well-positioned company with strong prospects for the future."