Trace One, a global leader in private label product lifecycle management (PLM) solutions, today announced it has been acquired by HgCapital. The investment was made from the HgCapital Mercury Fund which focuses on growth buyouts in the technology sector across Europe. The terms of the transaction were not disclosed.
For Trace One, a leading provider of Product Lifecycle Management (“PLM”) software for the retail private label sector, the acquisition gives the business support to continue the company’s growth and expand the product portfolio.
Trace One aligns with HgCapital’s strategy of investing in companies with subscription revenues in regulatory-driven growth niches and working with founder entrepreneurs looking to transition their businesses to the next stage of ownership.
Jérôme Malavoy, Founder and CEO of Trace One said: “We became a leading software vendor to the retail PLM market and I truly believe HgCapital is the right partner to assist the Company in addressing new opportunities in our core and adjacent markets. In my new role as a non-executive I look forward to continuing to help and advise the Company in meeting its full potential.”
Bertrand Sciard, an HgCapital operating partner and experienced retail software executive, will become Executive Chairman.
Sebastien Briens, a Director at HgCapital, said: “We have been impressed by the quality of the Trace One business built by Jérôme Malavoy and his team over many years. Trace One fulfils an important role in managing retailer processes with suppliers and we look forward to supporting the business to deliver even better service to its customers in the future.”
About Trace One
Trace One connects all supply chain network stakeholders to accelerate product innovation while creating supply chain transparency. Trace One powers the world’s largest network for private label development with more than 20,000 companies in 100 countries developing over $300bn in annual products spend. The company has offices in Boston, Chicago, Paris, London, Madrid and Dusseldorf.
HgCapital is a sector expert private equity investor, supporting management teams to grow industry champions. Deeply resourced sector teams focus on specific sub-sectors and investment themes to identify companies occupying an established position within a niche, and which have the potential to grow faster than their market, create employment and become the leader in their industry. HgCapital’s dedicated portfolio management team provides practical support to management teams to help them realise their growth ambitions.
HgCapital invests in expanding segments of the TMT, Services, Industrials and Renewable Energy sectors across Western Europe. Based in London and Munich, HgCapital manages more than £5 billion for some of the world’s leading institutional and private investors. For further details, please see www.hgcapital.com