Jamieson is pleased to announce that it has advised the management team of Grupo Primavera on its combination with Cegid.
Grupo Primavera has been built over the past three years as an Oakley Capital portfolio asset via an ambitious buy and build strategy. Through acquisitions and significant investment in product innovation and talent, Grupo Primavera has performed well ahead of its business plan, becoming Iberia’s largest software platform in just three years.
Grupo Primavera currently has 800 employees based in five countries, serves 165,000 paying customers, and delivered €76 million of revenue in 2021. The company offers a wide range of cloud-based software solutions serving small businesses and mid-market segments across Spain, Portugal, and Africa. Together, Grupo Primavera and Cegid will have pro forma revenue in the Iberia region of more than €150 million this year.
Commenting on the transaction, Santiago Solanas, CEO of Grupo Primavera, said, “We are strongly aligned with Cegid’s vision and ambition, and this is a powerful partnership that will allow us to combine resources and expertise. The Jamieson team helped us navigate a tough and complex process, and we are very grateful for their support and advice in helping us close out this deal. Their hard work made a real difference, and we can’t imagine having done it without them”.
José Basabe, Andrew Cox, Kenny Brodie and Alison Dunning advised the Grupo Primavera management team on their reinvestment into the combined structure and the terms of their go-forward incentive plan.
The transaction completed on 2nd September 2022.