L Capital Announces Investment in Nitro Software Alongside Potentia Capital
San Francisco, California | April 30th, 2023
L Capital has made an investment in Nitro Software (“Nitro or the “Company”), alongside leading technology-focused private equity sponsor, Potentia Capital.
Nitro Software is a cloud-based provider of document productivity software to business customers around the world. The Company’s Productivity Platform includes PDF editing tools, digital workflow automation, secure eSigning, and identity-verification capabilities. Originally founded in 2015, Nitro has grown into a global SaaS leader, supporting more than 3 million licensed users and13,000 business customers across 157 countries.
Nitro was acquired by the Potentia-led investor syndicate via a take-private transaction and was subsequently delisted from the Australian Stock Exchange (ASX) in April 2023. Under the terms of the agreement, Nitro shareholders will receive A$2.20 per-share (up to A$2.25 per-share based on several deal contingencies), valuing the transaction at approximately A$550 million.
Nitro is L Capital’s third investment alongside Potentia. Past investments include Ascender (acquired by Ceridian) and Micromine (acquired by AspenTech, deal pending).
About Nitro Software
Nitro is a global SaaS leader in PDF software, document management and electronic signatures. Nitro’s Productivity Platform includes powerful PDF tools, digital workflows, highly secure eSigning and identity verification capabilities. Its analytics product measures ROI and quantifies sustainability efforts, all supported by a best-in-class customer success and change management support team. With more than 3 million licensed users and 13,000+ business customers across 157 countries, Nitro serves 67% of the Fortune 500. For more information, visit: www.gonitro.com.
About L Capital
L Capital is a specialty private equity firm that advises and invests alongside leading buyout and growth equity firms. Our strategy leverages longstanding private equity sponsor relationships and a global executive network to unlock and transform PE deal opportunities across the Technology, Business Services, Industrial and Consumer sectors. The result: strategic insights for PE investors, high-impact leadership for their portfolio companies and access to differentiated returns for L Capital’s limited partners.
Founded in 2015, L Capital is a part of a unique platform serving the private equity industry. Our affiliated executive search and recruitment firms, provide access to a network of 200,000+ senior executives which we leverage to provide value across the PE investment lifecycle including deal origination, diligence support, executive search, and team buildouts. This executive network is a key differentiator and offers a unique lens into companies through the executives who lead them. For more information, visit: www.lcapitalmgmt.com