Houlihan Lokey Advises Monterro

Houlihan Lokey is pleased to announce that Monterro has divested Matilda FoodTech from its first fund, M1, and re-invested in the business with its recently launched fourth fund, M4, together with investment firm Stena Sessan. Monterro’s fund M1 has divested all its shares of Matilda FoodTech, the majority of which were acquired by Monterro’s fund M4, while Stena Sessan acquired a minority stake. The transaction closed on 22 December 2021.

Matilda FoodTech empowers the sustainable food service industry by offering a platform that delivers a data-driven approach that automates, streamlines and improves all food service operations in the Nordics, from procurement to waste management. The solution improves outcomes for hospital patients, students, the elderly and consumers in general. The Matilda platform also helps its customers to achieve several of the UN’s Sustainability Development Goals. The company has made several add-on acquisitions, strengthened its product portfolio, and expanded to new markets and target audiences, which has led to successful growth and an expanded footprint in Europe in recent years.

Monterro is the leading B2B software growth investor in the Nordics, with a mission to turn Nordic software companies into market leaders and global players. Its team has successfully developed and led companies such as Pointsec, Episerver, Orc Software, and Lime. Monterro brings this operational experience to its portfolio companies, supporting them in all aspects of growth together with significant financial commitment. Monterro’s founders and employees provide an average of 25% of the fund’s capital, so their interests align with both entrepreneurs and investors. Monterro, which has offices in Stockholm, Oslo, Munich, and Scandinavian Software Park in Hanoi, Vietnam, will continue to be the majority owner of Matilda FoodTech and will support the company in the next phase of its growth journey, together with Stena Sessan.

Stena Sessan is part of the Stena Sphere and owned by the Olsson family. Through collaboration with co-owners, management teams and organisations, they help to develop businesses that can address the needs and challenges that the future holds. Their investment strategy is built on flexibility and a long-term investment horizon. Their investment in Matilda FoodTech is part of Stena Sessan’s strategy of investing in a diversified portfolio of companies that have the potential to develop and grow for generations to come.

Houlihan Lokey served as exclusive financial advisor to Monterro and assisted in marketing, structuring, and negotiating the transaction on its behalf. This transaction further demonstrates Houlihan Lokey’s strong position in the software space and relationships with tech-focused PEs in the Nordics, as well as adding to the firm’s ESG deal-making record, particularly in the areas of food waste and CO₂ footprint reduction.