- MidEuropa acquired Symfonia in March 2021
- With MidEuropa’s support, Symfonia completed three strategic add-on acquisitions
- Accel-KKR is a technology-focused investment firm
MidEuropa has announced the sale of a majority stake in Symfonia to Accel-KKR. The financial terms of the transaction were not disclosed. MidEuropa will retain a “significant” minority stake in the company.
Warsaw-based Symfonia a provider of financial management, payroll and ERP software to accounting offices and small- and medium-sized enterprises (SMEs) in Poland.
MidEuropa acquired Symfonia in March 2021 in a carve-out from Sage Group, a multinational enterprise software company based in Newcastle upon Tyne, England. With MidEuropa’s support, Symfonia completed three add-on acquisitions: HRTec, Reset 2 and Cloud Planet.
“Symfonia is another example of MidEuropa’s growing and successful involvement in the broadly defined B2B technology and services segment,” said Kerim Turkmen, partner at MidEuropa. “We believe that the abundance of IT talent and ongoing digitalisation in Central European markets makes the region the right place to create Pan-European tech-enabled champions. We look forward to continuing our support of Symfonia’s talented management team in this next phase of our ownership and have no doubt that with our partnership with Accel-KKR, the company is well positioned to continue on its impressive growth trajectory.”
“Symfonia has proven itself to be a dynamic force in the Polish technology market, thanks to a capable management team, and talented employee base,” said Maurice Hernandez, managing director of Accel-KKR. “We appreciate the trust and partnership that Symfonia and MidEuropa have placed in us as the incoming lead investor, and we look forward to bringing Accel-KKR’s deep software expertise and global growth experience to Symfonia’s next phase of growth.”
MidEuropa is a private equity investor focused on investments in Central Europe. The firm has offices in Warsaw, London, Bucharest, Luxembourg and Guernsey.
Accel-KKR is a technology-focused investment firm headquartered in Menlo Park, California.