Sale of Pronestor to PSG / Sign In Solutions

Sector(s)
TMT
Deal type
Sell your business
Date
September 2022
Countries involved
Denmark / USA

Client

Pronestor is one of the world’s leading providers of meeting management and resource scheduling Software-as-a-Service (SaaS) for workspace management, room booking, catering services, display solutions and visitor management.

Deal

Capitalmind advised the shareholders of Pronestor on its sale to PSG / Sign In Solutions

Parties

Lead team

  • Stig Madsen Lachenmeier

    Stig Madsen Lachenmeier

    Managing Partner Nordics
  • Erik Dahl

    Erik Dahl

    Partner Nordics

About the deal

The story of Pronestor is the story of deep knowledge of work environments. For more than 20 years and with customers in 38 countries, Pronestor has pushed the boundaries for Workplace Technology offering customers the latest, most intelligent solutions. Pronestor strive to maintain the footprint as premier developer and provider of technology regarding; Desk booking, meeting scheduling, visitor management, and analytical facility management insights.

Pronestor’s Workplace Management Technology, empower organizations with a solution that offers hands-on value for everyone in a 360-degree perspective – improving the workplace experience for employees while providing concrete insights into facility usage for top management. Pronestor acknowledge the need for a solution that support office activities in a 360-degree perspective. Therefore, the product suite supports companies from start to finish; finding an available desk, scheduling your meeting in a one-step-process, automating the visitor journey ensuring the first good impression, and locating your booked meeting room.

Committed to solving the hybrid workspace challenges for businesses around the world, Pronestor will further invest in its technology and product offerings, as well as meaningfully expand its talented teams to meet the massive market demand, increase its investment into developing a world-class partner ecosystem and expand its geographic reach.

Led by PSG, Pronestor is going to be merged with the Sign In Solutions, a global provider of cloud-based compliance, approvals, and workspace management systems. The Pronestor acquisition will complement the company’s core visitor management platforms, Sign In App and Sign In Enterprise, to create VM 2.0—the next generation of workplace solutions.

The transaction also sees the Danish technology venture capital firm DICO realise their investments made in 2019, which has supported the growth journey and driven the SaaS product innovation. The existing management team and key employees will remain shareholders going forward.

This transaction closed on the 30 of September 2022. Detailed terms of the transaction are not disclosed.

About Providence Strategic Growth

Providence Strategic Growth (“PSG”) is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 110 companies and facilitated over 400 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, Paris, Madrid and Tel-Aviv. Visit www.psgequity.com for more information.

About Dico

DICO is a Danish privately held venture capital firm, investing in Tech-enabled and Software companies with strong growth potential, proof of product, first-class management teams and scalable business models. Dico was founded in 1994 and since then the firm executed more than 40 investment cycles. Visit www.dico.dk for more information.

What we did

Capitalmind advised Pronestor on the sales process by working closely with the shareholders and management team up to and during the sales process e.g. process strategy, valuation, marketing materials, execution and negotiation support.

This transaction demonstrates the continued strength of Capitalmind’s market-leading Technology advisory service, and deep expertise in the software sector.