Partners Group acquires majority interest in Version 1

Transaction could value company at €800m

Trade

Tom O'Connor, Version 1

21 April 2022

Global private markets firm Partners Group is to acquire majority interest in Version 1. Subject to regulatory approvals, the transaction – reportedly in the region of €600-800 million – is expected to complete by mid-2022.

Employing over 2,100 staff, Version 1 has offices in Ireland, the UK, India and Spain. It made its first UK acquisition in 2013 and has made a total of 13 acquisitions to date, including Northern Ireland-headquartered digital services specialist Neueda last year.

Over the past five years, Version 1’s revenues have increased to over €240 million through a combination of strong organic growth and selective acquisitions. It was recently awarded second place in the Great Place to Work Awards for best large workplace in Ireland.

The agreement follows a successful five-year period of ownership by exiting shareholder Volpi Capital. Version 1 has tripled in size since the UK-based private equity firm acquired its majority interest from the firm’s founders, who exited the business in 2017.

“We thank Volpi Capital for their important and supportive role that has enabled Version 1 triple in size over the past five years,” said Tom O’Connor, chief executive, Version 1 (pictured). “We are extremely pleased to have secured Partners Group as our new partner and majority shareholder. Throughout our process, the firm’s core values, track record and ambition best matched those of Version 1.

“Partners Group’s sectoral knowledge and international reach will be as important to Version 1 as their investment and endorsement of our growth strategy. We are also pleased for our customers and staff who will benefit as we continue to grow and add more great people to the Version 1 team.”

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