Novax divests its shares in Medius to Marlin Equity Partners
Novax has entered into an agreement to divest all its shares in Medius to Marlin Equity Partners. Under Novax ownership, Medius has had a strong development and established a solid foundation for a continued growth journey.
Novax became an owner of Medius in 2011, and the company has since developed from a local business with a large share of ERP-consultancy revenues and on-premise installations to a global provider of industry-leading AP-invoice automation solutions in the cloud. The company has developed a unique software platform, pursued and implemented the strategic acquisition of Ascendo, streamlined operations by divesting the ERP-consultancy division Medius Dynamics, transformed its business model and products to recurring revenue and Software-as-a-Service and expanded internationally, developing a significant market position in the US.
- Medius has transformed its operations and developed significantly under Novax ownership and is a good example of how we take companies to the next level in partnership with strong entrepreneurs and management teams. We continue to see great potential for Medius in international markets and believe that Marlin Equity Partners, with its industrial experience and physical presence in Europe and the US, can assist Medius on the continued growth journey, says Eric Persson, CEO of Novax
- With Novax on board as the major shareholder, we have made the long journey and transformed from being a traditional Swedish software company with consultancy tailored installations on-premise, to an international cloud company with an industry-leading customer offering. This transformation would not have been possible without growth oriented owners with a long term perspective on value creation. We would like to thank Novax for all their support, strategic as well as financial, and look forward to continuing the journey with Marlin Equity Partners, says Per Åkerberg, CEO of Medius
Novax is an active owner and partner to entrepreneurs, focused on developing profitable and sustainable companies with strong growth potential. In addition to Medius, Novax has ownership in Academic Work, ApoEx, Concept, Designtorget, EMG, Filippa K, Hyper Island, Lagerhaus and RCO among others. www.novax.se
Novax is part of the family owned Axel Johnson-group together with Axel Johnson International, Kicks, Martin & Servera (70%), Åhléns, as well as the partly owned listed companies Axfood (50%) and Dustin (25%). Axel Johnson AB had a consolidated annual group turnover 2016 of approximately 72 billion and about 20 000 employees (2016). Axel Johnson is a family-owned company in the fourth and fifth generation and is owned by Antonia Ax:son Johnson and her family. www.axeljohnson.se
Medius is a leading provider of AP invoice automation solutions in the Cloud. The MediusFlow and Ascendo solutions automate and simplify the entire P2P process. The company has 2,000 customers worldwide processing 52 million invoices annually, with high density in retail, manufacturing and services. Founded in 2001, Medius now has 220 employees working out of offices in Sweden (HQ), the United States, Norway, Denmark, Poland, the Netherlands, Malaysia and Australia. www.mediusflow.com.