Vinge advised Altor Fund V on the deal. Setterwalls assists Monterro and the other shareholders.
Altor Fund V has signed an agreement to acquire a majority stake in Palette Software AB from Monterro and the other shareholders.
Altor acquires the company from previous owner Monterro, founders and management. The ambition is to accelerate investments in growing Palette into one of the leading accounts payable automation software providers globally.
Palette is an Accounts Payable automation (AP Automation) software company offering procure-to-pay and digital invoice processing solutions for the SME and mid-market segments. The company, which has 12o employees and is headquartered in Stockholm, has more than 1,500 customers predominantly in Sweden and Finland. Palette has annual recurring revenue (ARR) of approximately 200 MSEK.
The Vinge team included partner Christina Kokko (Picture) and associates Carl Sander, Vilhelm Rondahl, Elsie Nassar and Nando Basic (M&A), Mathilda Persson and Lisa Hörnqvist (IT), Carl Östlund (Employment), and VDR-specialist Sara Dahlros Sköld.
The Setterwalls team included Mattias Detterfelt, Willy Edholm Fjellstad, Henrik Davidsson, Fanny Berggren, Mikaela Alderhorn, Andreas Wårdh, Julia Sjöström.
Involved fees earner: Mikaela Alderhorn – Setterwalls; Fanny Berggren – Setterwalls; Henrik Davidsson – Setterwalls; Mattias Detterfelt – Setterwalls; Willy Edholm Fjellstad – Setterwalls; Julia Sjöström – Setterwalls; Andreas Wårdh – Setterwalls; Nando Basic – Vinge; Lisa Hörnqvist – Vinge; Christina Kokko – Vinge; Elsie Nassar – Vinge; Carl Östlund – Vinge; Mathilda Persson – Vinge; Vilhelm Rondahl – Vinge; Carl Sander – Vinge;