Cinven Makes Significant Investment in Drake Software

Cinven to Acquire TaxAct and Combine with Drake Software

November 1, 2022

Software

Cinven has agreed to acquire TaxAct for approximately $720 million and will combine it with its existing portfolio company Drake Software under a new holding company to create a full-service tax solutions provider for professionals and consumers. The combined businesses will continue to operate under their own brands and the transaction is expected to close in 2022, subject to regulatory approvals and customary conditions.

Cinven Acquires Archer

July 10, 2023

Cloud & SaaS

International private equity firm Cinven has agreed to acquire Archer, a leading provider of integrated risk management (IRM) cloud software, from Clearlake Capital Group and Symphony Technology Group. The deal — expected to close subject to regulatory approvals — will support Archer's international expansion and product-led growth as a standalone SaaS platform.

Cinven Acquires Majority Stake in JAGGAER from Accel-KKR

August 15, 2019

Cloud & SaaS

International private equity firm Cinven has acquired a controlling majority stake in JAGGAER, the global SaaS spend-management and Source-to-Pay provider. Accel-KKR, which took JAGGAER private in 2016 and drove significant growth and add-on acquisitions, retains a minority stake; Cinven said it will support further R&D investment and additional acquisitions to drive growth.

Cinven Acquires Majority Stake in Ufinet International

December 21, 2021

Telecommunications

International private equity firm Cinven's Seventh Fund will make a majority investment in Ufinet International for an enterprise value of approximately €2.5 billion. Enel, the incumbent minority co-shareholder, will re-invest a minority stake; the deal supports Ufinet's continued international expansion, network investment and buy-and-build growth across Latin America.

Cinven Makes Majority Investment in True Potential

September 9, 2021

Financial Services

Cinven has agreed to make a majority investment in True Potential, a UK wealth management group headquartered in Newcastle that provides advice, an investment platform and fund solutions. True Potential serves more than 1.4 million retail clients, has over £20 billion AUM, employs more than 350 people and will continue to be led by founders David and Daniel Harrison.

Cinven Invests in Nitel

November 18, 2021

Telecommunications

Cinven has agreed to make a significant majority investment in Nitel, a Chicago-based provider of managed internet connectivity, SD-WAN and managed cybersecurity services for multi-site SMEs. Financial terms were not disclosed; the deal is an acquisition from the founders and Cinven intends to support Nitel’s organic growth and buy-and-build strategy to expand into adjacent services.