Subject: ACC
Advent International acquires a minority interest in Spend Management Leader Medius
STOCKHOLM, March 16, 2022 /PRNewswire/ -- Medius, a leading provider of source to pay solutions, today announced that global private equity firm Advent International has acquired a minority stake in the business. Following the deal, Marlin Equity Partners remains Medius' majority shareholder. The terms of the transaction were not disclosed.
Founded in Stockholm in 2001, Medius is a global leader in AP automation, payments, sourcing and procurement with more than 500 employees serving thousands of customers across the globe. The company's suite of products and services automate the process of receiving, handling, approving, and paying an invoice, and simplify the onboarding and managing of vendors.
The common goal is to accelerate the development of Medius' core technology, including leveraging AI and ML to deepen its automation capabilities, and further the company's vision of a touchless invoicing process. In addition, the intention is to strengthen Medius' end-to-end, source-to-pay solution through strategic business investments and M&A activity in the coming months.
"We are thrilled to welcome Advent as a partner for Medius," said Jan-Olivier Fillols, a Managing Director at Marlin Equity Partners. "The spend management market has an incredible amount of potential, and we believe Medius is uniquely positioned for continued success. Both Advent and Marlin share similar values, while having enormous technology know-how and far-reaching operational capabilities. The combination of our teams, as well as our global resources will drive significant value to Medius customers and further enhance Medius' strategic value."
Jim Lucier, CEO of Medius comments: "Medius has a big, bold vision for the future of the source to pay category, and has the market-leading technology, deep domain expertise and leadership team required to execute against it. We're delighted to welcome Advent, with the category insights and intelligence its team brings, as an investor in Medius."
As part of the deal, Douglas Hallstrom, Director at Advent will join the Medius board. Hallstrom comments: "Finance professionals are starting to recognize the savings and efficiencies that AP automation can deliver, as well as its ability to reduce costly mistakes and eliminate fraudulent payments. As a result, we anticipate strong growth in this segment of the fintech market. We were also impressed by Marlin's partnership-oriented culture and success achieved to date and believe Medius is uniquely positioned to become the category defining global business for the mid-market."
For more information, please contact:
Dan Bird, Fight or Flight for Medius
[email protected] +44 7885 670798 / [email protected] +44 330 133 0985
Graeme Wilson or Harry Cameron, Tulchan for Advent
[email protected] +44 20 7353 4200
This information was brought to you by Cision http://news.cision.com
SOURCE Medius
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