Carlyle, a global investment firm, announced a majority investment in GBTEC Software AG and its affiliates on November 23rd, 2023. GBTEC is recognized as a leading provider in the fields of business process management (BPM) and governance, risk, and compliance (GRC) software. As part of this transaction, GBTEC’s founder and CEO, Gregor Greinke, will retain his role as CEO and remain the largest private shareholder.
GBTEC’s market position and Carlyle’s strategic plans
Established as a prominent SaaS software provider, GBTEC specializes in intelligent Business Process Management (iBPM), Digital Process Automation (DPA), and Process Governance, Risk, and Compliance (GRC). The company distinguishes itself with modern, user-friendly products, leveraging no-code and low-code technologies. GBTEC’s innovative platform and products have garnered commendation from leading technology analysts. Serving over 1,200 customers, including numerous blue-chip enterprises and public institutions, GBTEC employs around 300 people and operates in Germany, Austria, Spain, and Australia.
Carlyle’s investment strategy includes accelerating GBTEC’s international expansion and enhancing its product portfolio, focusing on digital process automation. Significant investments are planned, particularly in sales, marketing, and artificial intelligence.
Investment details & past collaboration
The investment will be funded by Carlyle Europe Technology Partners (CETP) V, a €3 billion fund targeting technology companies in Europe. Carlyle’s experience in internationalizing European software companies, demonstrated through its portfolio including SER Group and Shopware, positions it strategically to support GBTEC’s growth.
As a result of this transaction, Main Capital Partners, a specialised software investor since 2019, has sold its stake in GBTEC. Co-founder Marc-Oliver Stromberg and the extended GBTEC management team are reinvesting for significant stakes in the company. However, further details of the transaction remain undisclosed.
Executive perspectives on the investment
Gregor Greinke expressed optimism about entering a new growth phase with Carlyle’s investment. He acknowledged Carlyle as a perfect partner for GBTEC’s ambitions and thanked Main Capital Partners for their past collaboration.
Michael Wand, Co-Head of the CETP investment advisory team, highlighted GBTEC’s positioning to benefit from digital transformation trends. He emphasized Carlyle’s expertise in supporting the international growth of European software companies.
Sven van Berge Henegouwen, Managing Partner at Main Capital Partners, commended GBTEC’s impressive performance and strategic initiatives in recent years. He expressed confidence in Carlyle’s investment, seeing GBTEC as well-positioned with strong future prospects.
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