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Nomentia hits Nordics auction pipeline via Deutsche Bank – sources

The owners of Nomentia have launched a sale process for the Finnish treasury software provider with information memoranda distributed to prospective buyers, three sources familiar with the situation told Mergermarket.

Sellside adviser Deutsche Bank is due to collect non-binding offers for the company by the end of this month, the sources said.

The sale of the Providence Strategic Growth (PSG) and Verdane-backed company is expected to be conducted in a narrow auction process, mainly targeting players with direct experience in financial software and in regions where Nomentia operates, one of the sources said.

With offices in Sweden, Austria, Netherlands, Germany as well as Finland, Nomentia generates EUR 40m-EUR 50m revenues and EUR 15m EBITDA, with the top line growing at a rate of around 40% per year, one of the sources said, pointing out that the company makes the cut for the “rule of 40”, an indicator that the sum of revenue growth and profit margin is above 40% – a quality stamp for tech businesses. The company’s price tag is likely to be in the EUR 250m-300m range, the same source added. 

Nomentia was created via the merger of Providence-backed OpusCapita Solution and Verdane’s Analyste in June 2020. As part of the transaction, Providence became the majority owner, with Verdane and the company’s management retained a minority stake. In 2021, company acquired TIPCO Treasury & Technology, an Austrian provider of treasury information platforms.

Headquartered in Espoo, Finland, Nomentia provides treasury and cash management solutions, processing more than EUR 1trn annually for customers in 80 countries, according to its website.

Nomentia, PSG and Verdane did not respond to requests for comment. Deutsche Bank declined to comment.