Advising a German email marketing leader MAILINGWORK on the acquisition by Positive Group.
Flow Partners has acted as exclusive financial advisor to Chemnitz-based email marketing specialist MAILINGWORK and its shareholders on the acquisition by French digital marketing leader Positive Group (with support from its German subsidiary rapidmail).
Chemnitz, Germany
Hem, FranceOverview
This transaction highlights Flow Partners strong track record in the software space, having recently supported e.g. TestSolutions (software testing), Sentryc (brand protection software), Panorays (third-party security management) or Ziik (social intranet software platform).
It is also the 7th completed transaction in Germany following the sale of HAPPYCAR (car rental comparison), sale of TestSolutions (software testing), and fundraisings for sevDesk (software), MILES (car sharing), Sentryc (software), and Legendary Play (gaming).
Transaction Background
Arnold and Gneuß will leave the company and management will be taken over by rapidmail's managing directors Steffen Müllers and Sven Kummer. The departing MAILINGWORK founders commented 'We founded MAILINGWORK 20 years ago and have since grown it with great dedication. In Positive Group we have found an ideal partner sharing the same values and with a better ability to further professionalize and grow the company.'
For Positive Group it is the second acquisition in Germany on its way to achieve its stated goal of becoming a European market leader reaching €100 million revenues by 2026.
About MAILINGWORK
MAILINGWORK was founded in 1998 by Jörg Arnold and Torsten Gneuß and has been a reliable partner to mostly DACH-based Mittelstand and enterprise clients such as Sparkassen-Finanzgruppe, HUK-COBURG, Greenpeace, Deutsches Rotes Kreuz or Bauer Xcel Media. MAILINGWORK differentiates itself through its unique multi-account solution as well as DSVGO compliance and server hosting in Germany. Its product offering is highly complementary to rapidmail's simpler and more intuitive solutions focused mainly on SMEs.
About Positive Group
Founded in 2001, Positive Group is a software publisher dedicated to business communication and is known for Sarbacane (Mailify outside of France), a key player in emailing in Europe since 2001. Positive Group now offers a wide range of tools for digital business communication; from email and SMS marketing to conversational marketing solutions with live chat and chatbots, sales engagement software, and more. The group, based in the North of France, has since added a whole range of solutions based on its expertise to support companies in their digital communications. The company currently supports 25,000 customers, mainly SMEs and mid-market companies.
About Flow Partners
Flow Partners provides founder-friendly corporate finance and fractional CFO advice to technology entrepreneurs globally. Flow was founded in 2020 and operates globally with presence in London, Berlin, Warsaw and Miami.
For more information, please visit flowpartners.io.
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