Flow Partners advises MAILINGWORK on the acquisition by Positive Group

Advising MAILINGWORK on the acquisition by Positive Group.

Berlin, Germany / Lille, France — 24 Jan 2024

Flow Partners has acted as exclusive financial advisor to Chemnitz-based email marketing specialist MAILINGWORK and its shareholders on the acquisition by French digital marketing leader Positive Group (with support from its German subsidiary rapidmail).

Overview

This transaction highlights Flow Partners strong track record in the software space, having recently supported e.g. TestSolutions (software testing), Sentryc (brand protection software), Panorays (third-party security management) or Ziik (social intranet software platform).

It is also the 7th completed transaction in Germany following the sale of HAPPYCAR (car rental comparison), sale of TestSolutions (software testing), and fundraisings for sevDesk (software), MILES (car sharing), Sentryc (software), and Legendary Play (gaming).

Transaction Background

Arnold and Gneuß will leave the company and management will be taken over by rapidmail's managing directors Steffen Müllers and Sven Kummer. The departing MAILINGWORK founders commented "We founded MAILINGWORK 20 years ago and have since grown it with great dedication. In Positive Group we have found an ideal partner sharing the same values and with a better ability to further professionalize and grow the company."

For Positive Group it is the second acquisition in Germany on its way to achieve its stated goal of becoming a European market leader reaching €100 million revenues by 2026.

About MAILINGWORK

MAILINGWORK was founded in 1998 by Jörg Arnold and Torsten Gneuß and has been a reliable partner to mostly DACH-based Mittelstand and enterprise clients such as Sparkassen-Finanzgruppe, HUK-COBURG, Greenpeace, Deutsches Rotes Kreuz or Bauer Xcel Media. MAILINGWORK differentiates itself through its unique multi-account solution as well as DSVGO compliance and server hosting in Germany. Its product offering is highly complementary to rapidmail's simpler and more intuitive solutions focused mainly on SMEs.

About Positive Group

Founded in 2001, Positive Group is a software publisher dedicated to business communication and is known for Sarbacane (Mailify outside of France), a key player in emailing in Europe since 2001. Positive Group now offers a wide range of tools for digital business communication; from email and SMS marketing to conversational marketing solutions with live chat and chatbots, sales engagement software, and more. The group, based in the North of France, has since added a whole range of solutions based on its expertise to support companies in their digital communications. The company currently supports 25,000 customers, mainly SMEs and mid-market companies.

About Flow Partners

Flow Partners is a modern advisory firm providing independent corporate finance advice to companies and investors that shape the global digital ecosystem. Flow was founded in 2020 and operates globally with presence in London, Berlin, Warsaw and Miami.

For more information, please visit flowpartners.io

Enquiries

For all enquiries please contact the team at hi@flowpartners.io

Relevant Track Record

We have advised the world's most innovative companies and their shareholders. Here are our results.

buy-side advisory

Boryszew is a Polish publicly listed manufacturer with focus on automotive, metals and chemicals.

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Vivastreet is an online classified ads portal operating in 10+ countries.

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MAILINGWORK is a German email marketing software platform.

acquisition by

TestSolutions is a German software testing provider.

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Rebellion is a Spanish neobanking plaform for Gen Z and Millenials.

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HAPPYCAR is an online price comparison and booking platform for rental cars.

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Legendary Play is a mobile gaming studio focused on esports community.

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MILES is the largest independent car sharing provider operating in Germany.

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Picus Security is a Turkey-based cybersecurity platform focused on Breach-and-Attack Simulation vertical.

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buy-side advisory

Boryszew is a Polish publicly listed manufacturer with focus on automotive, metals and chemicals.

acquisition by

Vivastreet is an online classified ads portal operating in 10+ countries.

acquisition by

MAILINGWORK is a German email marketing software platform.

acquisition by

TestSolutions is a German software testing provider.

acquisition by

Rebellion is a Spanish neobanking plaform for Gen Z and Millenials.

acquisition by

HAPPYCAR is an online price comparison and booking platform for rental cars.

investment by

GoTrendier is an online marketplace to buy second-hand clothing in Mexico and Colombia.

potential acquisition by

Testing, Inspection & Certification Player

Resillion (formerly Eurofins Digital Testing) is a digital testing, cybersecurity, content and digital forensics provider.

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Pure is an online casual dating platform, catering to curious and adventure-seeking individuals.

investment by

Undisclosed Buyer

Ziik is all-in-one internal communication and information sharing platform for better employee engagement.

investment by

Krita is the leading factoring platform operating in the Icelandic market.

investment by

Orka owns a portfolio of online consumer lending platforms operating in Iceland.

investment by

Sentryc is an AI-driven software solution to protect intellectual property and brand reputation online.

investment by

Legendary Play is a mobile gaming studio focused on esports community.

investment by

MILES is the largest independent car sharing provider operating in Germany.

investment by

Picus Security is a Turkey-based cybersecurity platform focused on Breach-and-Attack Simulation vertical.

investment by

sevDesk is an accounting software platform for SMEs and freelancers in Germany and Austria.

investment by

Metaloop (formerly Schrott24) is an online marketplace for scrap metal trading.

European Satellite & Terrestrial Network Provider

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Key Family Partners (KFP) is a Geneva-based multi-family office.

Fiber To The Home (FTTH) Provider

potential investment by

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investment by

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AVE & YOU is a technology platform and DTC brand for personalized skincare.

European Digital Asset Management (DAM) Software Provider

acquisition by

European Digital Asset Management (DAM) Software Provider

Byron Capital Partners manages multi-manager, private equity, real estate, fixed income and credit portfolio.

See all of our track record

All Experience

buy-side advisory

Boryszew is a Polish publicly listed manufacturer with focus on automotive, metals and chemicals.

acquisition by

Vivastreet is an online classified ads portal operating in 10+ countries.

acquisition by

MAILINGWORK is a German email marketing software platform.

acquisition by

TestSolutions is a German software testing provider.

acquisition by

Rebellion is a Spanish neobanking plaform for Gen Z and Millenials.

acquisition by

HAPPYCAR is an online price comparison and booking platform for rental cars.

investment by

GoTrendier is an online marketplace to buy second-hand clothing in Mexico and Colombia.

potential acquisition by

Testing, Inspection & Certification Player

Resillion (formerly Eurofins Digital Testing) is a digital testing, cybersecurity, content and digital forensics provider.

acquisition by

Pure is an online casual dating platform, catering to curious and adventure-seeking individuals.

investment by

Undisclosed Buyer

Ziik is all-in-one internal communication and information sharing platform for better employee engagement.

investment by

Krita is the leading factoring platform operating in the Icelandic market.

investment by

Orka owns a portfolio of online consumer lending platforms operating in Iceland.

investment by

Sentryc is an AI-driven software solution to protect intellectual property and brand reputation online.

investment by

Legendary Play is a mobile gaming studio focused on esports community.

investment by

MILES is the largest independent car sharing provider operating in Germany.

investment by

Picus Security is a Turkey-based cybersecurity platform focused on Breach-and-Attack Simulation vertical.

investment by

sevDesk is an accounting software platform for SMEs and freelancers in Germany and Austria.

investment by

Metaloop (formerly Schrott24) is an online marketplace for scrap metal trading.

European Satellite & Terrestrial Network Provider

potential investment by

European Satellite & Terrestrial Network Provider

Key Family Partners (KFP) is a Geneva-based multi-family office.

Fiber To The Home (FTTH) Provider

potential investment by

Fiber To The Home (FTTH) Provider

Key Family Partners (KFP) is a Geneva-based multi-family office.

investment by

Undisclosed Investors

AVE & YOU is a technology platform and DTC brand for personalized skincare.

European Digital Asset Management (DAM) Software Provider

acquisition by

European Digital Asset Management (DAM) Software Provider

Byron Capital Partners manages multi-manager, private equity, real estate, fixed income and credit portfolio.

See all of our track record

All Experience