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Original Press Release

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. 

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.

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