GCA Altium advises BID Equity on the sale of myneva to Summa Equity
myneva was formed in 2017 in Hamburg around a merger of the Dutch Regas Group and German Heimbas and Daarwin, and the subsequent acquisition of six established and independent social care software specialists. myneva offers dedicated SaaS solutions across the elderly, disabled, social, and youth care sectors, helping care providers to digitise their workflows to better manage increasing demand for care and respond to converging patient needs.
Since its formation the company has experienced double-digit growth, having completed further add-on acquisitions and seen consistent revenue acceleration, including a high percentage of recurring revenues and numerous new client wins. The company now operates in six countries across Europe, with 220 employees, and serves around 2,000 customers.
Summa Equity’s investment in myneva aligns with the firm’s focus on solving global challenges, and supporting the UN Sustainable Development Goals, specifically ‘#3 Good Health and Wellbeing’, ‘#8 Decent Work and Economic Growth’ and ‘#10 Reduced Inequality’. This is Summa’s first investment in Germany and signals an increasingly international focus for the Nordic PE firm with more than EUR 1.4bn of assets under management.
Hartmut Clausen, CEO of myneva, commented: “BID Equity has been a great partner on our journey, providing the blueprint and backing to lay the foundation for our platform as well as operational support to make it happen. Thanks to the great support from GCA Altium, we now welcome Summa to help us in taking this platform further on the European stage.”
Christian Melby, Partner and Chief Investment Officer at Summa Equity, added: “myneva has achieved huge success by meeting the needs of care providers more comprehensively than any other digital solution. Given the macro trends that are underway in the social sector, we see significant opportunities for further growth and international expansion, which promise to bring both financial returns and numerous social benefits, in line with our investment strategy. As Summa’s first investment in Germany, this deal also paves the way for a greater presence in the DACH region, as well as across Europe, and further afield.”