Milbank LLP advised Carlyle on a strategic growth investment by TA Associates (“TA”) in SER Group, a leading global intelligent content automation (“ICA”) software vendor in the enterprise content management (“ECM”) market. Carlyle invested in SER in 2018 and has expanded SER’s management team, changed its business model to subscription based, expanded its product range and opened up new markets. These include the USA, the UK, continental Europe and the Middle East. TA, a leading global private equity firm, has agreed to make a strategic growth investment to further support SER’s development in international expansion, investment in AI innovations and expansion of the product range. The transaction is subject to customary regulatory approvals.
SER is defining ICA, the next generation of ECM that leverages AI to provide intelligent content understanding and process automation. SER’s highly scalable Doxis platform brings ICA capabilities into a single, unified platform that works seamlessly across multiple applications and vendor ecosystems, such as SAP, Salesforce and Microsoft. Headquartered in Bonn, Germany, SER has a well-established position in DACH and a fast-growing international business with blue-chip customers around the world. SER is trusted by over five million users worldwide.
Carlyle is a global investment firm with deep industry expertise that deploys private capital across its business and conducts its operations through three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $426 billion of assets under management as of December 31, 2023, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which they invest. Carlyle employs more than 2,200 people in 28 offices across four continents.
The Milbank team that advised Carlyle comprehensively on the transaction was led by partner Sebastian Heim (Corporate/M&A) and included partners Thomas Kleinheisterkamp (Tax), Thomas Ingenhoven (Finance) and Alexander Rinne (Antitrust), special counsel Nils Bremer (Antitrust) as well as associates Markus von Lutterotti, Julian Jaschinski, Janik Klotzsche, Linus Knappe (all Corporate/M&A), Lara Milione (Finance), Arne Hammerich and Jil Windau (both Tax).
