This transaction will mark the fourth sale in 2024 of a company owned by the pan-European private equity group, bringing the total amount of disposals to 3.3 billion euros.
Astorg, a leading pan-European private equity firm, announces that it has entered into exclusive negotiations with Nordic Capital to sell its majority stake in Anaqua, a global SaaS platform for intellectual property (IP) management. Working closely with Anaqua’s management team, Astorg has supported the company’s continued strong growth over the past five years, contributing to its evolution into a global leader in IP management solutions. Following the disposals of Audiotonix, Acturis and Normec earlier this year, this transaction will mark the fourth sale, in 2024, of a company owned by Astorg – bringing the total amount of disposals to €3.3 billion1 and generating a multiple on equity (MOIC) of more than 3x – thus achieving a distribution rate of more than 35%2.
Founded in 2004 and headquartered in Boston, Massachusetts, Anaqua is a global leader in integrated technology solutions for the complete lifecycle management of intellectual property. Its offering combines software for data processing (workflows), payment renewals, data collection, analyzes and associated services. Anaqua employs more than 800 people around the world, with teams in North America, Europe and Asia Pacific.
Acquired by Astorg in 2019, marking the firm’s first investment in the United States, Anaqua has experienced strong and steady growth since. By working closely with Anaqua’s management team and leveraging its deep IP market expertise, Astorg has supported key initiatives and continued R&D investments, further cementing the company’s leadership position in the market. Major achievements include the company’s geographic expansion into Europe and Japan, the development of tailor-made solutions for mid-market businesses and law firms, and the addition of new features such as online filing. abroad and cost forecasting. This organic growth has been reinforced by strategic acquisitions, offering a complete and integrated platform to its clients.
Bob Romeo, CEO, Anaqua, said: “Our partnership with Astorg during this growth phase has allowed us to accelerate our development while remaining true to our commitment to our customers, our quest for excellence and our spirit of innovation. . Astorg’s entrepreneurial culture and industry expertise have been invaluable in supporting our growth, and we are grateful for this strong partnership.”
Justin Crotty, COO, Anaqua, added: “At Anaqua, our customers are our priority. With the support of Astorg, our team has worked diligently to develop market-leading, integrated IP solutions, while building the global teams and infrastructure needed to support our clients wherever they are. We look forward to continuing to build on the strong foundation established with Astorg, as we embark on the next phase of our growth with Nordic Capital.”
François de Mitry, CIO, Astorg, commented: “We are proud of our successful partnership with Anaqua, our very first investment in the United States. This transaction represents an important milestone for our company and illustrates our commitment to investing in high-quality businesses and our ability to accelerate their growth globally. Over the past five years, we have enjoyed working closely with Bob, Justin and the entire team, undertaking a journey of transformation and growth together. We look forward to seeing Anaqua continue to thrive in this new chapter of development.”
Michael Beetz, Partner, Astorg, concluded: “Supporting Anaqua in its transformation into a global leader in IP management solutions, while supporting its commercial success, reflects years of dedicated work. Anaqua is ideally positioned to continue to strengthen its leadership by expanding into more regions and new customer and service segments, building on solid foundations and strong established relationships with its existing customers.”
1 Total proceeds from the four companies sold or being sold in 2024 (including the first partial sale of Audiotonix in 2020 and the Anaqua dividend in 2021) as well as the value of the minority stake retained by Astorg VII in Normec. The vast majority of the 3.3 billion euros in disposal proceeds were received in 2024.
2 Total distributions from Astorg VI and Astorg VII paid in 2024, divided by their net asset values at the start of 2024, including Audiotonix, Acturis, Normec and Anaqua, expected to close in Q1 2025.
