Oakley Capital takes majority stake in Spanish software business

Oakley Capital, a pan-European, mid-market private equity investor, has announced that Oakley Capital Origin Fund I has agreed to acquire a majority stake in Alerce, a Spanish provider of transport and logistics software solutions.

In a  statement on 30 October, Oakley Capital said Origin will invest alongside Alerce's founding family, including CEO Pablo Pardo Garcia, who will retain a significant stake in the business. 

Founded in 1989 by the Pardo family, Alerce has established itself as a transport management software (TMS) provider to Spanish courier, carrier and haulage businesses operating in the "less-than-truckload" market.

The statement continued: "Its solutions improve customer service as well as cost and environmental efficiency by providing customers with increased visibility and control over core transportation workflows associated with the shipment of physical goods.

"It offers a product suite centred around its carrier TMS "Alertran", with a comprehensive and modular portfolio of adjacent products such as "Senda", a market leading last mile delivery module.

"Alerce's solutions are mission critical to its customers as evidenced by minimal churn and high levels of net retention. Alerce has market leading positions across Spain, Latin America and France through longstanding relationships with blue-chip customers."

Oakley further said its investment in Alerce reflects its strategy of partnering with founder-owned businesses to accelerate growth and facilitate international expansion.

"As a trusted partner with more than 30 years track record of continuous customer-led innovation and a modern product architecture, Alerce is ideally placed to expand its product offering, both through organic product development and targeted bolt-on acquisitions, and to continue its track record of profitable growth while increasing its proportion of recurring revenues.

"The highly fragmented European transport and logistics software market presents an opportunity for Alerce to leverage Oakley's expertise in buy-and-build strategies to expand into complementary markets. Alerce's potential for geographic growth, go-to-market acceleration and product extension aligns well with Oakley's successful track record of scaling software businesses, demonstrated through investments, including Grupo Primavera (which was strategically combined with Cegid), WebPros, and ECOMMERCE ONE."

Oakley also said this transaction highlighted its commitment to Iberia, expanding its portfolio of existing investments in the region, such as vLex, Idealista, Seedtag, Grupo Primavera (Cegid) and several higher education assets.

The completion of this transaction is contingent upon FDI approval.

Peter Dubens, founder and managing partner of Oakley Capital, said: "We are pleased to be partnering with the Pardo family on Alerce, a company which has all the characteristics we seek in a typical Oakley investment. Carrier TMS is a mission critical vertical software segment that is well positioned for innovation, and Alerce's track record and vision align with our strategy of driving growth and technological advancement. Together, we will deliver an ambitious growth plan, enhancing efficiency and value for all stakeholders."

Pablo Pardo, CEO of Alerce, said: "We are excited to partner with Oakley, an investor with a strong track record in driving growth, innovation and operational excellence. This collaboration will empower Alerce to introduce transformative changes and deliver even greater value to our clients, expanding our offering and driving excellence in the transport and logistics sector, while allowing us to further internationalise the company and provide access to the global market."