London-based mid-market private equity firm Inflexion has acquired Finland’s Nomentia for an undisclosed sum. The majority stake in the company will see the exit of growth equity firm PSG Equity (“PSG”) and Oslo’s Verdane. According to a report filed by Private Equity News, the deal is rumoured to be worth €300 million.
Offering cash and treasury management services including bank connectivity, payments, cash visibility and forecasting, trade finance, and risk and reporting, Nomentia services approximately 1,400 blue-chip customers. According to the company, their reach encompasses some 80+ countries and at present, process north of €1.2 trillion of payments through its bank connections annually.
“Nomentia has gone through an incredible journey under PSG and Verdane’s ownership. We’ve established Nomentia as one of the leading players in the European treasury and cash Management space,” said the company’s CEO Jukka Sallinen. “Going forward, Nomentia plans to be even better at serving customers in its current markets and new ones by bringing new and innovative features to a growing client base. Management is very excited to partner with Inflexion to accelerate the company’s growth further.”