Brussels and Ghent, Belgium. 23 July 2024. team.blue and Hg today announce that Sofina , a family-run, global investment company listed on Euronext, has agreed to make a direct, minority investment in team.blue, Europe’s leading digital enabler for entrepreneurs and SMBs (small and medium-sized businesses).
Today team.blue represents one of the largest European digital solution providers to 3.3 million SMB customers across 22 countries. The business continues expanding its product offering to cover all end-to-end and evolving needs of customers, helping them to remain relevant, competitive and successful end-to-end in their digital journey. These solutions are designed to enhance security, ensure GDPR compliance, boost visitor attraction and conversion rates, improve customer engagement through various marketing tools, and assist in both online and offline commerce strategies.
Jonas Dhaenens, Founder and President of team.blue said: “It’s an amazing feat to bring in another highly respected investor to team.blue. We have a decades-long vision on how to stay ahead as one of the largest and most relevant European digital solution providers to SMBs. Sofina, CPP Investments and Hg are crucial, long-term investors who share this enduring vision for the business and together we’re excited for the future.”
Founded 125 years ago, Sofina is a Belgium-based investment company, with a supportive long-term vision to partner with entrepreneurs and families managing growing companies. Sofina backs innovative entrepreneurs with patient growth capital and advice to build tomorrow’s winners, with sustainability at their core. Sofina invests both directly and through Private Equity funds. Its geographical scope is Europe, the United States, and Asia.
Harold Boël, CEO of Sofina, said: “We’re very glad to accompany Jonas and team.blue in the next stage of the company’s development. This investment is a testimony of Sofina’s aim to be a relevant partner for the strongest companies, entrepreneurs and investors in our sectors and geographies of interest.”
Sofina joins CPP Investments who announced an investment in team.blue in early July, valuing the business at around €4.8bn. Hg, a leading investor in European and transatlantic software and services businesses and investor in team.blue since 2019, will remain the largest single investor in the business. President of team.blue Jonas Dhaenens and Ali Niknam will also still remain cornerstone investors alongside the wider management team led by CEO Claudio Corbetta.
Joris Van Gool, Partner at Hg, said: “We warmly welcome the Sofina team. Today the business is one of the largest privately owned technology companies in Europe with an unbroken 20-year growth track record – enabling us to attract quality investors like Sofina with deep Belgian roots, a long-term growth horizon and a global track record. A huge congratulations to everyone at team.blue for achieving this recognition.” This transaction has been signed and is subject to customary conditions and regulatory approvals.
For further information, please contact:
team.blue
Gaia Zampaglione
gaia.zampaglione@team.blue
Sofina SA
Dirk Delmartino, Head of Communications
dirk.delmartino@sofinagroup.com
+32 470 614965
Hg
Tom Eckersley
tom.eckersley@hgcapital.com
About team.blue
team.blue is a leading digital enabler for businesses and entrepreneurs across Europe (Belgium, Bulgaria, Cyprus, Czechia, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, The Netherlands, Portugal, Serbia, Slovakia, Spain, Sweden, Switzerland, Türkiye and United Kingdom). The company is made up of 60+ successful brands who serve 3,3 million customers. team.blue is a one-stop partner for web hosting, domains, e-commerce, online compliance, lead generation and application solutions, supported by more than 2.500 experts. team.blue’s vision is to make online business simpler by shaping technology and providing customers with innovative online products and services.
About Sofina
Sofina is a Belgian investment company, listed on Euronext Brussels. Sofina’s mission is to partner with leading entrepreneurs and families, backing them with patient capital and supportive advice to foster sustainable growth of their businesses. Relationships and alignment are at the heart of what we do. Sofina has investments in Europe, Asia and the United States in various sectors, with a particular focus on Consumer and retail, Digital transformation, Education, Healthcare and Sustainable Supply Chains. For more information, please visit www.sofinagroup.com
About Hg
Hg supports the building of sector-leading enterprises that supply businesses with critical software applications or workflow services, delivering a more automated workplace for their customers. This industry is characterised by digitization trends that are in early stages of adoption and are set to transform the workplace for professionals over decades to come. Hg’s support combines deep end-market knowledge with world class operational resources, together providing compelling support to entrepreneurial leaders looking to scale their business – businesses that are well invested, enduring and serve their customers well.
With a vast European network and strong presence across North America, Hg’s 400 employees and around $70 billion in funds under management support a portfolio of around 50 businesses, worth over $150 billion aggregate enterprise value, with around 110,000 employees, consistently growing revenues at more than 20% annually. https://hgcapital.com/
