Transcript
Introduction
Zack
My name is Zack Fuss, and today, we are breaking down the largest privately owned software business in Europe, Visma. To break down the business, we're joined by Nic Humphries. Nic is the senior partner and Executive Chairman of HgCapital, which is one of the leading software investors in Europe.
Nic is intimately familiar with Visma, given Hg owns over 50% of the business and has been invested for over 17 years. Hg initially invested as part of a take-private transaction in 2006 at just a $450 million valuation, and based upon the latest recap completed in December, today, the business is valued at over $21 billion.
Visma is a software company with over 15,000 employees, offering accounting, payroll and HR software products for customers across the Nordic, Benelux and Baltic regions. In 2022, it generated more than EUR 2 billion in revenue and today is doing over EUR 2.3 billion in sales. The business produces over EUR 600 million in EBITDA and continues to grow.