Advent International Acquires Minority Stake in Spend Management Company Medius

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Medius, a leading provider of source-to-pay solutions, today announced that global private equity firm Advent International has acquired a minority stake in the company.

Following the transaction, Marlin Equity Partners remains the majority shareholder of Medius. Terms of the transaction were not disclosed.

Founded in Stockholm in 2001, Medius is a global leader in accounts payable, payments, procurement and procurement automation with over 500 employees serving thousands of customers worldwide. The company’s suite of products and services automates the process of receiving, processing, approving and paying an invoice, and simplifies supplier onboarding and management.

The common goal is to accelerate the development of Medius’ core technology, including leveraging AI and ML to deepen its automation capabilities, and to advance the company’s vision of a contactless billing process. Additionally, the intention is to strengthen Medius’ end-to-end source-to-pay solution through strategic business investments and M&A activity in the coming months.

“We are delighted to welcome Advent as a partner of Medius,” said Jan-Olivier Fillols, managing director of Marlin Equity Partners. “The spend management market has incredible potential, and we believe Medius is uniquely positioned to continue to succeed. Advent and Marlin share similar values, while having enormous technological know-how and far-reaching operational capabilities. The combination of our teams, together with our global resources will bring significant value to Medius customers and further strengthen the strategic value of Medius.

Jim Lucier, CEO of Medius, comments: “Medius has a bold and broad vision for the future of the source-to-pay category, and has the industry-leading technology, deep domain expertise and team direction needed to execute it. We are delighted to welcome Advent, with the knowledge and intelligence that its team brings, as an investor in Medius.

As part of the agreement, Douglas Hallstrom, principal at Advent, will join Medius’ board of directors. Hallstrom comments, “Finance professionals are beginning to recognize the savings and efficiency that accounts payable automation can bring, as well as its ability to reduce costly errors and eliminate fraudulent payments. As a result, we expect strong growth in this segment of the fintech market. We have also been impressed with Marlin’s partnership-focused culture and success to date and believe Medius is uniquely positioned to become the defining category of global business for the middle market.

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