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POELLATH advises PINOVA Capital on re-investment in xSuite

3i Group plc (“3i”) has acquired a majority stake in xSuite Group (“xSuite”), a leading provider of accounting process automation solutions in the SAP ecosystem (“Transaction”).

The previous owners, funds advised by PINOVA Capital GmbH (“PINOVA”) and the management team of xSuite, will reinvest as minority shareholders in xSuite parallel to the Transaction.

Based in Ahrensburg (near Hamburg), xSuite specializes in Accounts Payable Invoice Automation (APIA) software applications that enable users to digitize, streamline and automate invoice processing to reduce costs, increase efficiency and improve quality. The company employs more than 230 people at its offices in Germany, Denmark, the Netherlands, Singapore, Slovakia, Spain and the U.S. xSuite has a growing customer base of more than 1,200 customers in over 60 countries with 220,000 users processing over 60 million invoices per year.

PINOVA is an independent investment company that invests in fast-growing tech companies in German-speaking countries. PINOVA focuses on medium-sized companies with revenues between 10 and 75 million euros in the industrial technology and information technology sectors.

3i is a leading international investment manager focusing on mid-market private equity and infrastructure. The company’s primary investment markets include Northern Europe and North America.

POELLATH provided comprehensive legal and tax advice to PINOVA and the minority shareholders on the transaction with the following team:

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