InSoft Partners acquires stakes in two outsourcing companies
InSoft Partners, a Ukrainian investment company that has had a lot of deals lately, is back with the news. InSoft Partners has already invested in two outsourcing companies and made a third undisclosed investment, the company’s founder Vitaliy Horovyi told AIN.Capital.
AIN.Capital shares the details.
Inoxoft. The company has headquarters in Lviv and employs 200 people. Negotiations started in the fall of 2021. “The deal was made to the sound of sirens,” Horovyi says. The plan is to grow by 50% in a year.
Linkup Studio. The company has two offices: in Lviv and Ternopil, and a team of 70 people. Negotiations started in early 2022 and finished on March 1. The goal for the near future is to prepare the business for scaling, stabilize the hiring process, and set up lead generation from various channels.
InSoft Partners has not disclosed the details of another deal. It is only known that the company’s offices are located in the eastern and central regions of Ukraine. The goal is to relocate the business to safer spaces for employees and increase sales.
- InSoft Partners acquired minority stakes in all three companies. Previously, the company wanted to buy controlling stakes, but minority stakes proved to be as good. Therefore, the company continued to follow this development strategy.
- No financial details of any of the deals have been disclosed. According to AIN.Capital, InSoft Partners could spend about $2 million on all three deals.
- According to Horovyi, despite the war, the deals were based on pre-war multipliers. There were no discounts made.
“Economic recovery is a critical step for our future. I sincerely believe in Ukrainian intellectual capital and freedom. That’s why it was decided to keep investing. In addition, it was fundamentally important for us not to take advantage of the situation and not to reduce multipliers. We bought each company according to its multipliers before the war. And now, as reliable partners, we will develop our joint business together,”Vitaliy Horovyi comments on the deal.
InSoft Partners specializes in buying stakes in IT service companies, followed by asset scaling and growth. Its previous big exit is Core Value: buying a controlling stake in 2016, then selling it in 2019 to structures close to Oaktree Capital Management.