A leading provider of business management software in the Northern Europe.

Visma provides mission-critical financial, accounting, payroll and HR software primarily to SMEs and public sector organisations.

Montagu was involved with Visma from its first minority investment in 2010, reinvestment in 2014 and again in 2017.


Customer contracts


Add-on acquisitions since 2010


Annualised revenue growth since 2010

A Montagu business

  • Leading provider of mission-critical SaaS software in markets with attractive dynamics
  • Strong R&D capabilities
  • Run by a strong management team with track record of consistent organic growth and a high pace of acquisitions

Expanding geographical reach

As a minority investor since 2010, Montagu supported Visma’s impressive growth journey, including a successful transition to SaaS products and an active consolidation strategy.

We continued to support Visma’s management team as they created further value through M&A, development of Visma’s technology offerings, and international expansion.

For instance, the acquisition of Raet in 2018 significantly expanded Visma’s footprint in the Netherlands, providing a strong platform for further growth in the Benelux region.

We exited Visma fully in 2020 to a consortium of new and existing investors.

Deal details

Year of entry


Year of exit






Industry Sector

Software & Technology

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