Milbank LLP comprehensively advised Hg on the investment of its portfolio company JTL-Software-GmbH ("JTL-Software") in GREYHOUND Software GmbH & Co. KG ("GREYHOUND").
The transaction follows Hg's investment in JTL-Software in the fourth quarter of last year and JTL-Software's subsequent investment in countX, also completed in January 2024, on which Milbank also advised Hg. JTL-Software's strategy is to expand its offering with a more diverse range of solutions and services. The additional transaction strengthens JTL-Software's position as an all-round provider of solutions and services for online commerce and enables users to centralize their customer communications and telecommunications.
Hg is a globally acting private equity investor that invests in software and services companies with a focus on businesses that modernize business operations. Through specialization in core sectors, complemented by vertical application specialization and operational support, Hg provides support to entrepreneurs and managers looking to scale their businesses. With a strong European network and a presence in North America, Hg's 400 employees and $65 billion in assets under management support a portfolio of more than 50 companies.
The software developer GREYHOUND from Melle in Lower Saxony offers a holistic solution that enables companies to organize their customer service more efficiently. The cloud-based platform combines customer inquiries with order and transaction information from third-party systems such as ERP and accounting software. These functions are supplemented by a document management system with comprehensive workflow options, enabling teams to maintain an overview of relevant communication and associated information. The company has over 20 years of experience in e-commerce and is used by more than 550 companies.
JTL-Software is a provider of innovative ERP software for multichannel commerce. With more than 50,000 customers and over 500 partners in Germany, Austria and Switzerland, JTL-Software is one of the leading manufacturers of e-commerce software in the DACH region.
The Milbank team that advised Hg on the investment in GREYHOUND was led by partner Sebastian Heim (Corporate/M&A) and included partner Thomas Kleinheisterkamp (Tax), special counsel Sebastian Reiner-Pechtl (Corporate) as well as associates Julian Jaschinski, Lucas Stumpf (both Corporate/M&A) and Maximilian Hirschfeld (Corporate).
