Apax Partners snaps up Mailinblack, eyes rapid growth

Mailinblack's revenue grew 28% in 2021 and with the support of Apax is seeking to quadruple its revenue by 2026.

  • Apax has acquired Mailinblack via its Apax Development Fund
  • Mailinblack is a French software company that makes cybersecurity solutions
  • The company plans to make further acquisitions of European software companies

Apax Partners on Monday announced the acquisition of French software company Mailinblack via its Apax Development Fund. Apax has bought a majority stake in the company alongside Mailinblack managers, historic shareholders and the NewAlpha Verto Fund. The investment will support Mailinblack’s growth.

“Mailinblack has become the leading provider of email protection and cyber threat training solutions in the middle-market segment,” said Bérenger Mistral, partner at Apax Development. “We are happy to support its growth in both France and Europe through the eighth investment by our fund, Apax Development.”

Apax is a London-headquartered, global private equity firm with offices around the world. It invests in the technology, services, healthcare and internet/consumer sectors.

“This financial transaction will allow us to diversify our product offering by developing and entering into partnerships and by acquiring products such as password management, document transfer and digital clean-up solutions,” said Thomas Kerjean, Mailinblack’s chairman and CEO.

Mailinblack, based in Marseille, has seen revenues grow 28 percent in 2021 and is looking to quadruple its revenue by 2026. Further acquisitions in the European software space are part of the plan with Mailinblack looking to invest in companies with an annual recurring revenue of between €1 million and €10 million.