Verdane exits subscription management company Prenax

9 Jul, 2012

Verdane Capital V (Verdane) has sold Prenax, the subscription management company, to Arts et Biens, a French family office.

The Fund acquired Prenax through a portfolio transaction with Skandia Liv in 2005. Since then, revenues have more than doubled and reached Skr 700m (€70m) in 2011. This has been achieved through organic growth and four add-on acquisitions of companies such as Legal Library Services in the UK and IS Abonnements in France. Prenax has also increased its international presence considerably by establishing offices in countries such as Australia and Singapore. In 2005, 10% of revenues originated outside of Sweden and by 2011 this share had grown to 80%. Over the same time period, the number of employees grew from 70 to 133.

“Verdane has been instrumental in transforming Prenax”, said Mats Edlund, Chairman of the Board and CEO of Prenax between 2005 and 2011. “Verdane has driven international acquisitions and our strategy to focus on corporate clients, who tend to be more demanding in terms of customisation than the traditional library customer base.”

About Prenax
Prenax Global AB (Prenax) is a subscription management services company that operates as a key commercial and fulfilment channel between publishers and their customers. Prenax provides administrative services for managing printed and electronic subscriptions. The company has operations in Australia, France, Singapore, Sweden, the UK and the US.

 About Verdane Capital Advisors
Verdane Capital Advisors has 25 years experience in the venture capital and private equity market as advisor to Verdane Capital funds. The funds act as liquidity providers for owners of unlisted assets, primarily by acquiring portfolios of unlisted companies, but Verdane Capital funds also selectively invest directly in medium-sized individual companies. The committed capital in the funds advised stands at over €500m, with a total of over 100 holdings in four different funds. Verdane Capital Advisors has 21 professionals in offices in Helsinki, Oslo and Stockholm. Example investments include: BytHjul, Codenomicon, Liaison Technologies, Mathem, Resman, SmartMotor, Wireless Maingate and Åkerströms. Examples of earlier investments are Coding Technologies, Chipcon, DIBS, Nacre, Opera Software, Reslink and TradeDoubler. www.verdanecapital.com


ENDS