Grupo Primavera

Sector

Technology

Fund

Fund III

Year

2019 / 2022

Location

Iberia

Status

Current

Grupo Primavera is the largest independent provider of business software in Iberia.

Key facts

SME customers

165k

across Spain and Portugal

Acquisitions

since 2019

Revenues

76%

recurring

The largest independent software platform serving SMEs in Iberia

Grupo Primavera is the largest independent provider of business management software in Iberia, working with more than 165,000 customers and 500 partners including medium, small and micro-sized companies and accountants across Spain and Portugal.

Comprising thirteen brands, Grupo Primavera helps entrepreneurs and their businesses migrate critical financial management processes to the cloud, improving productivity, operational efficiency and customer experience. With a strong track record of delivering double-digit revenue growth through organic initiatives and M&A, Grupo Primavera is on a mission to become Iberia’s number one business software provider.

The Group’s digital and cloud-based solutions simplify and automate processes such as payroll, accounting and taxes, helping business increase operational efficiencies and improve customer experience.

Our investment

In 2019 Oakley acquired Ekon, a provider of ERP software, as a carve-out from the Iberian operations of Unit4. The investment marked Oakley’s first deal in Spain.

In 2021 Oakley acquired Primavera BSS, the Portuguese leader in business management software, combining the two to create Grupo Primavera, the largest independent provider of business software in Iberia.

The Group has made ten other bolt-on acquisitions to strengthen its market share, vertical offerings and cloud solutions (Tabulae, Contasimple, Billage, Diez Software, Professional Software, Club del Asesor, Profiture, GSE, Eticadata, Cloudware).

We are born as the leading independent group in management software for SMEs in Iberia, and we want to continue on a path of innovation and growth together with all our employees, customers, partners and with the support of Oakley Capital.

Santiago Solanas

CEO — Grupo Primavera

Market dynamics

The Iberian business software market continues to benefit from long-term structural growth, as SMEs digitise and adopt cloud technology. Portugal and Spain lag international benchmarks in cloud adoption, at c.30% and c.40%, respectively, compared to over 60% in Northern Europe. With a leading cloud product and positioning as a Spanish champion, Grupo Primavera is well placed to benefit from the structural shift to the cloud in a market dominated by legacy technology and international vendors.