Apse Capital Acquires Kallidus from FPE Capital

Apse Capital Continuation Fund (Led by J.P. Morgan) Acquires TerraQuest, Kallidus and Ultima Business Solutions

November 27, 2024

Software

Apse Capital closed a €350 million continuation fund led by J.P. Morgan Asset Management to acquire three existing portfolio companies — TerraQuest, Kallidus and Ultima Business Solutions — from the Apse Capital Bridge Fund. The vehicle will provide follow-on capital to support organic growth and strategic M&A activity across the businesses; Piper Sandler (Aviditi Advisors) and legal advisers Weil and DLA Piper served on the transaction.

FPE Capital Completes Buyout of Kallik

September 2, 2019

Software

FPE Capital LLP has completed the buyout of Kallik, a Midlands-based provider of cloud-based label compliance and artwork management software. FPE plans to accelerate Kallik’s growth by strengthening the team and building on its sector credentials across medical devices, pharmaceuticals and chemicals.

FPE Capital Acquires Zest Technology

July 23, 2021

Cloud & SaaS

FPE Capital LLP has acquired Zest Technology, a UK-based employee benefits SaaS provider previously owned by Fintel plc. FPE said it will support Zest’s international expansion and scale the executive team to accelerate growth in the UK and beyond.

FPE Capital Invests in Egress Limited

April 4, 2022

IT Services

FPE Capital LLP has invested in Egress Limited, a UK-based cloud and data migration specialist that delivers large, complex migrations and integration/BI services to public- and private-sector clients. The deal is the first investment from FPE Fund III and will support Egress’s executive team expansion and accelerated growth across the UK market.

Apax Partners Acquires Alcumus from Inflexion for over £600m

February 11, 2022

Cloud & SaaS

Funds advised by Apax Partners LLP have agreed to acquire Alcumus from Inflexion for a transaction valuing Alcumus at over £600 million, generating a 5.9x return for Inflexion. Alcumus, a Cardiff-based provider of technology-led risk management and compliance solutions that has transitioned to a SaaS model, was backed by Inflexion since 2015 and expanded internationally through strategic acquisitions and organic growth.

Apax Partners Acquires Zellis Group from Bain Capital

April 15, 2024

Cloud & SaaS

Funds advised by Apax Partners LLP have entered a definitive agreement to acquire Zellis Group from Bain Capital. Zellis is a leading UK and Ireland payroll, HR and benefits software provider (headquartered in Bristol) with a high degree of recurring revenue, serving around one third of the FTSE 100 and processing pay for roughly 5 million people monthly; Apax said it will support further investments and M&A to accelerate growth.