Cinven Acquires German Software Maker think-cell

Cinven Ltd., the U.K. buyout house, agreed to buy a controlling stake in German software company think-cell, the company said in a statement.

As part of the transaction, think-cell’s founders Markus Hannebauer and Arno Schoedl will continue to be active members of the management team and will both remain minority investors in the business alongside Cinven.

Founded in 2002, think-cell reported 88 million euros in revenue and 80 million euros in pretax profit in 2019, according to public filings. Publicly traded peers are usually valued at 10 times revenue and in some cases at more than 20 times pretax ...