COLOMBIA – December 2, 2024 – Advent International (“Advent”), a leading global private equity investor, announced today that it has acquired a majority stake in Siesa, the largest independent ERP provider in Colombia, from Siesint Holdings and former Siesa employees. The co-founder of the company will remain as a minority shareholder. Terms of the transaction were not disclosed.
Siesa is a horizontal ERP provider with more than 40 years of experience in the Colombian market and over 7,000 clients. The company offers a differentiated and purpose-built software suite centered on financial management solutions, critical mission software, and adjacencies such as CRM, HCM, e-invoicing, e-commerce, and serves many industries, with particular emphasis and leadership on retail and hospitality.
“Siesa is one of the leading players in the ERP market in Colombia. Over 40 years, it has developed a very compelling value proposition, highly appreciated by its clients and tailored to their needs,” said Manuel Garcia Podestá, Managing Director at Advent International. “We are excited to support Siesa in its next growth phase by continuously evolving and innovating its product offering.”
Advent is an experienced software investor with multiple assets across the sector, including in ERP, financial and manufacturing software. Recent investments in software include SYSPRO, a leading global ERP software provider for the manufacturing and distribution industries; Aareon, a European provider of Software-as-a-Service (SaaS) solutions for the property industry; Prometheus Group, a global provider of enterprise asset management software; Coralogix, a next–gen observability vendor that helps companies manage and analyze data to monitor their cloud applications; and Medius, a global leader in AP automation, B2B payments, sourcing and procurement software. In addition to a 34-year track record in technology investing, Advent brings 28 years of experience investing in Latin America.
“My co-founder and I started Siesa with the hope of making it easier for our clients to run their organizations efficiently and effectively,” said the co-founder. “Advent has a longstanding history of investing in software companies to accelerate their growth journey with an emphasis on product innovation. I look forward to seeing how we can jointly propel Siesa into its next chapter.”
“For the last 11 years, we have seen Siesa grow into one of the leading ERP providers in Colombia,” said Emilio Icaza of Siesint Holdings. “We are proud to have partnered with the company on that journey and wish them continued success in their partnership with Advent.”
This investment by Advent demonstrates its interest and commitment to Colombia. The firm has a long history in the country with investments totaling over $1 billion in companies such as GHL, Sophos, Alianza Fiduciaria, LifeMiles, Alianza Valores, Grupo Biotoscana, GTM, and Ocensa.
Lloreda Camacho & Co served as legal advisor to the sellers; Martínez, Quintero, Mendoza, Gonzáles, Laguado, & De la Rosa and Estrategias Corporativas served as legal and investment banking advisors respectively to Advent.
About Advent
Advent is a leading global private equity investor committed to working in partnership with management teams, entrepreneurs, and founders to help transform businesses. With 16 offices across five continents, we oversee more than USD $88.8 billion in assets under management* and have made more than 420 investments across 43 countries.
Since our founding in 1984, we have developed specialist market expertise across our five core sectors: business & financial services, consumer, healthcare, industrial, and technology. This approach is bolstered by our deep sub-sector knowledge, which informs every aspect of our investment strategy, from sourcing opportunities to working in partnership with management to execute value creation plans. We bring hands-on operational expertise to enhance and accelerate businesses.
As one of the largest privately-owned partnerships, our 600+ colleagues leverage the full ecosystem of Advent’s global resources, including our Portfolio Support Group, insights provided by industry expert Operating Partners and Operations Advisors, as well as bespoke tools to support and guide our portfolio companies as they seek to achieve their strategic goals.
To learn more, visit our website or connect with us on LinkedIn.
*Assets under management (AUM) as of June 30, 2024. AUM includes assets attributable to Advent advisory clients as well as employee and third-party co-investment vehicles.
About Siesa
Siesa is a leading ERP software provider in Colombia that has been driving client growth with user-friendly technological solutions for over 43 years. With a strong market position in several industries, notably in the retail and hospitality sectors, Siesa’s team of experts is dedicated to meeting the Colombian market requirements, facilitating seamless adaptability and empowering the growth of its clients. The company offers flexible deployment options including cloud-based and on-premise solutions that cater to diverse operational needs. With more than 7,000 clients predominantly spread across Colombia and extending into Peru, Ecuador, and Mexico, Siesa remains at the forefront of empowering organizations with advanced enterprise technology designed for optimal performance and strategic growth.
For more information, visit
Website: www.siesa.com
Linkedin: https://www.linkedin.com/company/siesa/
About Siesint Holdings
Siesint is a holding company which owns Intelisis Software, a leading ERP provider for mid-size and large companies in Mexico.
Media Contacts
Advent International
Leslie Shribman, Head of Communications
[email protected]
For Advent International in Colombia
Valeria Marulanda, Managing Partner at VMD Strategic Communications and Solutions
[email protected]
Siesa
Juan Pablo Mancera, Head of Marketing
[email protected]
