Private equity investment trust Apax Global Alpha (AGA) has announced it will invest €29m (£24.4m) as part of the Apax XI fund’s agreement to acquire a controlling stake in Veriforce.
AGA, which manages £741.5m assets, is a limited partner in the Apax XI fund.
In a stock exchange announcement this morning (29 August), AGA’s board said its investment in the firm will be on a look-through basis, calculated on the position of Apax XI’s overall transaction.
Veriforce is a supply chain risk management solutions provider operating in over 140 countries.
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Anders Meyerhoff, partner at Apax, said: “Apax has significant experience in the supply chain risk management sector, particularly given current Apax Fund investments in Alcumus and EcoOnline.
“It is an industry that has seen significant growth, driven by increasingly complex regulatory pressures and more demanding commercial requirements. We are excited by the industry outlook and are looking forward to supporting the next phase of Veriforce’s growth.”
AGA currently trades at a 29.6% discount and yields 7.28%, according to the Association of Investment Companies.
