Crescent Capital Group LP, a leading alternative credit investment firm, announced today that its European Specialty Lending strategy provided unitranche financing to support VIA equity’s strategic partnership with Saarni Cloud, a Finland-based Software as a Service (SaaS) provider for human capital management. VIA equity, a leading Northern European private equity firm, acquired a minority stake to become the lead investor, with Saarni’s existing investor and current management team remaining committed to the business.
Based in Espoo, Finland and founded in 2017, Saarni Cloud’s suite of software products provide services for human resources management, employee skills and learning, workforce and time management, financial management and analytics, as well as business leadership and enterprise resource planning. Saarni Cloud’s customer network includes approximately 1,500 organizations with nearly half a million users across Finland and Northern Europe.
“Crescent is proud to support VIA equity’s strategic partnership with Saarni Cloud, which has developed a strong product portfolio, large and diversified customer base and strong market position in Finland. This transaction will help Saarni Cloud grow its business in Finland and expand to new international markets, while relying on its proven management team to further develop its workforce software products to become the go-to SaaS provider for organizations in its core markets,” said Christine Vanden Beukel, Managing Director and head of Crescent’s European Specialty Lending strategy. “This financing reflects Crescent’s approach of collaborating with leading sponsors like VIA equity and innovative portfolio companies like Saarni Cloud to accelerate growth and help them achieve their business objectives.”
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