King & Wood Mallesons (KWM) has advised Silver Investment Partners (SIP) on the acquisition of two software specialists in cash management. SIP invested via its portfolio company CMH Group, a leading privately-owned provider of software solutions for the cash cycle.
With the support of its majority shareholder SIP, CMH Group has acquired the two French cash management software providers SAFELOGY SAS (SAFELOGY), a software specialist providing retailers with IT solutions for the entire cash cycle, and MLSA SAS (MLSA), a leading European software producer specialized in back-office applications to optimize cash management processes. Under the umbrella of CMH Group, the two companies will strengthen the German cash logistics specialist ALVARA Cash Management Group AG (ALVARA), a portfolio company of SIP since October 2018. KWM also advised on the acquisition of ALVARA by SIP.
The previous owners of SAFELOGY and MLSA become minority shareholders of CMH Group and will thus remain shareholders of the companies and take over various management functions.
SAFELOGY was founded in Marseille (France) in 2015 and is an independent software specialist providing retailers with IT solutions for the entire cash cycle. SAFELOGY is active in the EMEA market and serves to the US market through its subsidiary SAFELOGY CORP based in New York (USA). With the first universal cash automation platform, which is used daily by more than 5,000 retailers, SAFELOGY allows merchants to optimize cash management and reduce cash processing costs by up to 50 percent through a flexible multi-vendor, customizable and integrated solution.
MLSA was founded in 1986 in Bar le Duc (France) and specializes in back-office applications to optimize cash management processes. The company operates internationally with a focus on Europe and Africa. With 30 years of experience and more than 100 cash centres and back offices installed, MLSA provides retailers, cash-in-transit companies, financial institutions and public transport companies with comprehensive, tailor-made solutions to track and trace cash flows from end to end.
ALVARA is a medium-sized German cash logistics specialist and leading provider of software solutions to all parties involved in the cash cycle to manage, automate and monitor cash management.
The combination in the CMH Group offers new attractive development opportunities, such as advancing the international expansion as well as further broadening the product portfolio in the interest of customers. Together, ALVARA, MLSA and SAFELOGY are represented in 15 European countries and in a unique position to serve their customers across Europe. The European market for software solutions for cash management is still very regionally focused. For internationally operating companies, this means working with various providers with different software solutions and standards in their relevant markets. By harmonizing standards CMH Group creates a uniform system landscape that makes it easier for customers to synchronize their cash management processes at the European level and thus realize efficiency gains.
SIP will support CMH Group as an entrepreneurial partner in its further development. The group benefits from the investor's know-how, network and long-term orientation. In order to sustainably expand the group's market position, SIP will work together with the management to drive forward the growth strategy – both through organic growth and further acquisitions in the industry.
SIP is an independent equity finance investor for medium-sized companies in Germany, Austria and Switzerland. An entrepreneurial, experienced and trusted partner, Silver Investment Partner engages in majority and minority interests in companies with revenues of between €5 million and €100 million, with a focus on companies with revenues of between €10 million and €50 million.
Advisors to Silver Investment Partners:
Dr. Michael Roos (partner), Christian Ostermöller (counsel)
Rüdiger Knopf, Markus Hill (both partner, Tax and Structuring)