Riverside Partners, a Boston based private equity firm, announced today that its portfolio company, Calero Software, LLC, a leading provider of Communications Lifecycle Management (CLM) software and managed services including Telecom Expense Management (TEM), Managed Mobility Services (MMS) and Usage Management, has acquired A&B Groep. A&B Groep is a leading provider of Telecom Expense Management (TEM) solutions throughout the EMEA region and is headquartered in the Netherlands. The acquisition was completed on January 1, 2018. Financial terms were not disclosed. A&B Groep is Calero's second add-on acquisition since being acquired by Riverside Partners four months ago.
"I am thrilled to welcome the customers and employees of A&B Groep into the Calero family," commented Chris Jurasek, President & CEO of Calero Software. "A&B Groep expands Calero's technical, customer service and commercial operations in Europe, and significantly deepens Calero's local knowledge and presence in more than 30 countries and across more than 100 additional telecom providers. Together, Calero and A&B Groep offer the industry's most robust and cohesive set of tools and solutions globally. This acquisition represents Calero's commitment to global investment for our clients and prospects."
Ron Rijkenberg, co-founder and CEO of A&B Groep and now a Managing Director for Calero added, "Since day one, A&B Groep's mission has been to become the most trusted provider for telecom expense management services in the EMEA region. As part of Calero we have accelerated achievement of that goal and joined forces with a partner who truly shares our values of integrity, innovation and high-quality service. I am excited to be partnering with Chris Jurasek, Calero's management team and Riverside Partners and look forward to my role in leading the combined company's EMEA operations. Our customers will benefit greatly from our increased resources, complementary TEM solutions and accelerated investment in innovation as part of Calero. At the same time, A&B Groep's clients should absolutely continue to expect the same high level of satisfaction, local knowledge, employees and focus on data privacy and security that they have come to expect from us."
Michelle Noon, General Partner at Riverside Partners, added, "Our investment thesis for Calero anticipated significant growth, both organic and through selective strategic acquisitions, to build the global TEM leader. With a strong year of organic growth in 2017 and the acquisition of A&B Groep, Calero is well on its way to achieving those objectives. A&B Groep stood out to us for its growth-oriented leadership team, high customer satisfaction and deep local knowledge. The acquisition of A&B Groep by Calero provides the foundation for our continued investment in the region. Furthermore, A&B Groep's talented team and complementary technology capabilities will integrate seamlessly into Calero, enhancing Calero's position as the market's first truly integrated global solution."
"We are delighted to welcome Ron Rijkenberg, Cees Wiedijk and the entire A&B Groep team to Calero," said Steven F. Kaplan, General Partner at Riverside and Chairman of the Board of Calero. "A&B Groep's impressive customer base will benefit from the Company's continued local presence and A&B Groep's Roosendaal office will now become the EMEA headquarters for Calero. We expect both Calero's US customers and A&B Groep's European customers to benefit from the acquisition. We look forward to continuing to invest behind Calero."
Since its founding in 1999, A&B Groep has combined its significant local expertise, independent and objective analysis and its global reach to enable clients to more effectively manage their increasingly complex telecommunications spend. A&B Groep's GTEM Solutions include a robust mobility management platform that spans across devices, users, applications, documents and expenses. Additionally, across wireline, wireless and data networks, GTEM Solutions provide valuable financial and usage reporting to its end-users.
Calero's software and managed service solutions deliver sustainable value within large enterprises, universities and government agencies by enabling clients to more efficiently and more effectively manage the myriad of cloud and communications services, devices, contracts, invoices and spending across their operations. Today, Calero manages more than $6 billion of annual telecom, mobility and cloud spend for over 3,000 customers operating in more than 40 countries globally. Calero also provides managed mobility services for more than 500,000 mobile devices.
About Calero Software, LLC
Calero is a leading provider of Communications Lifecycle Management (CLM) solutions designed to turn communication data into actionable insight by simplifying the management of voice, mobile and other unified communications services and assets. With a deep commitment to innovation and customer service, Calero's CLM approach enables organizations to support the full communications lifecycle, from procurement to payment, including software and services that aid Telecom Expense Management (TEM), Managed Mobility Services (MMS) and Usage Management. Calero has thousands of customers in over 40 countries worldwide, including Fortune 2000 corporations, universities and government agencies. Calero is a portfolio company of Riverside Partners, a Boston-based private equity firm. Learn more at www.calero.com.
About A&B Groep
Founded in 1999, A&B Groep provides Telecom Expense Management (TEM), Enterprise Mobility Management, and Global Asset Recovery solutions throughout the EMEA region using its GTEM Solutions platform. Collectively, these Global Telecom Expense Management (GTEM) solutions enable organizations to easily manage their complex, multi-national telecommunications. www.ab-groep.eu/
About Riverside Partners
Founded in 1989, Riverside Partners is a middle market private equity firm currently investing Riverside Fund V, L.P. The fund focuses on growth-oriented companies primarily in the healthcare and technology industries. Riverside Partners is particularly experienced at partnering with founders, owners and management teams and it brings substantial domain expertise and operating experience to its portfolio companies. For more information visit www.riversidepartners.com.