Simpson Thacher represented Verdane in connection with a unitranche financing provided by Adams Street for the Elovade Group. The refinancing closed on November 29, 2024.
Elovade is one of Europe's leading value-added software distributors, focusing on IT security and cloud services. With experts located in Germany, Italy, Sweden and Switzerland, Elovade supports thousands of IT service providers and system houses across Europe in the sales and implementation of software.
Verdane, one of the investors in Elovade, is an independent investment firm that partners with tech-enabled and sustainable businesses based in Europe to help them reach the next stage of international growth, with approximately EUR 8 billion assets under management.
Adams Street Partners is a global private markets investment manager with investments in more than 30 countries across five continents and has $61 billion in assets under management across primary, secondary, growth equity, credit, and co-investment strategies.
The Simpson Thacher team included Hadrien Servais, Eline Souffriau and Brian Bodensteiner (Credit).