Mercell, founded in 1999 and headquartered in Oslo, Norway, is the European market's leading e-tendering software for public buyers and tender notification software for public sector suppliers. Mercell's solutions help buyers and organizations cut costs, grow their businesses and boost efficiency. Its cloud-based platforms are responsive and accessible from anywhere, giving customers insights and transparency.

Mercell delivers services to public and private buyers with the goal of becoming the leading software-as-a-service (SaaS)-platform for e-tendering and procurement in Europe. Mercell is already a leading platform for public e-tendering and entered the procurement market in 2020, servicing approximately 30,000 customers across 15 European markets and in the US. Mercell's unique marketplace simplifies the tender and procurement process and makes it safe and easy for buyers to find relevant suppliers for their tenders and daily purchasing needs. It also ensures suppliers find relevant business opportunities and offers tools for suppliers to digitally receive and handle purchases from public and private buyers.

Barings acted as lead lender to Mercell and Thoma Bravo, providing senior secured facilities to support the take-private of Mercell as well as additional committed facilities to enable Mercell to further expand the group via in-organic growth opportunities across the European market.

Magnus Lilja, Managing Director, DACH & Nordics at Barings Private Finance:
“Mercell is the leading e-tendering platform in Europe, characterised by resiliency, an exceptionally strong market position and high growth prospects.”

“We are proud to back Thoma Bravo and Mercell, and be part of Thoma Bravo’s latest platform acquisition in Europe. This landmark transaction further reinforces Barings Private Finance’s ambitions for growth in the Nordics.”

Matt Gilbert, a Principal at Thoma Bravo:
“We are grateful to the team at Barings for supporting our acquisition of Mercell, a leader within the European SaaS market, through customized and flexible financing. Their additional support of Mercell with committed facilities will further enable the company’s expansion and global growth.”
 
About Barings
Barings is a $349+ billion* global investment manager sourcing differentiated opportunities and building long-term portfolios across public and private fixed income, real estate, and specialist equity markets. With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its clients, communities and employees, and is committed to sustainable practices and responsible investment. Learn more at www.barings.com.

*Assets under management as of June 30, 2022

About Thoma Bravo
Thoma Bravo is one of the largest private equity firms in the world, with more than $122 billion in assets under management as of June 30, 2022. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging the firm's deep sector expertise and proven strategic and operational capabilities, Thoma Bravo collaborates with its portfolio companies to implement operating best practices, drive growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings. Over the past 20 years, the firm has acquired or invested in more than 380 companies representing over $190 billion in enterprise value. The firm has offices in Chicago, Miami and San Francisco. For more information, visit www.thomabravo.com.