Allshares Forges Ahead as European Compensation Software Leader with Novare Pay Acquisition
May 13 2024 - 12:00AM
Business Wire
Bregal Milestone, a leading European technology and software
private equity firm and majority owner of Allshares, a pioneering
compensation and long-term incentive software and services
provider, today announced the acquisition of Novare Pay and the
appointment of Michael Ingel�g as Chair of the Allshares Board.
Novare Pay, based in Stockholm, is acclaimed for its reputation
as a high-growth, high-margin European compensation services
provider with a strong Nordic heritage. With an impressive
clientele including leading multinational enterprises, Novare Pay's
integration into the Allshares ecosystem will translate to an
enhanced end-to-end digital turnkey offering to its over 630
clients spanning more than 40 countries worldwide. The acquisition
of Novare Pay further fortifies Allshares' leadership position as
one of Europe’s leading compensation software and services
providers, with augmented and strengthened capabilities across
compensation data and analytics, incentives, and governance. At
closing, Novare Pay will rebrand and operate under the Allshares
name.
Commenting on the landmark acquisition, Erika Andersson, CEO of
Novare Pay, expressed her enthusiasm, stating, "Over the years, we
have built a strong and diversified customer footprint and a
talented team operating from our strategic hubs in Stockholm, Oslo,
and London. Partnering with Allshares presents an exciting
opportunity to not only enhance our service delivery with
tech-forward compensation software but also to help spearhead a
transformative shift in the European compensation landscape."
Cyrus Shey, Co-Founder and Managing Partner at Bregal Milestone,
echoed Andersson's sentiments, saying, "We extend a warm welcome to
Erika, Andreas, and the entire Novare Pay team as they join the
Allshares family. Leveraging Novare Pay's specialized expertise in
pay, remuneration, and compensation, alongside its client-centric
approach, this partnership will help propel Allshares to new
heights across Europe, re-affirming their steadfast commitment to
delivering leading compensation solutions that drive high
performance for both private and publicly listed customers. With
Michael's appointment as Chair, we are confident in our ability to
harness this momentum and further strengthen Allshares’ position as
an industry leader."
As Chairman Michael Ingel�g brings his wealth of experience as a
seasoned CEO and board executive with deep knowledge of the Nordic
and European markets. In response to his appointment and the
acquisition of Novare Pay to the Allshares family, Ingel�g
commented, “Allshares’ distinctive solutions built and delivered by
industry experts underpinned my decision to join as Chair of the
Board. With the recent addition of Novare Pay to the Allshares
family, Allshares is poised to enhance its offerings even further
and truly transform the European compensation landscape. I'm
thrilled to help shape the company’s future, alongside management
and the board.”
The terms of the transaction were not disclosed and are subject
to customary closing conditions.
About Bregal Milestone
Bregal Milestone is a leading European software and technology
private equity firm with c.€1.3 billion of capital raised since
inception. The firm provides growth capital and operational support
to build market-leading technology companies. Bregal Milestone is
part of Bregal Investments, a leading global investment platform
with assets under management of over €18 billion. Bregal Milestone
was recognised by GrowthCap as one of the Top Growth Equity Firms
of 2023. For more information, visit www.bregalmilestone.com or
follow us on LinkedIn.
About Allshares
Allshares is a market leader for equity plan design and
administration in the Nordics. Trusted by leading multinational
enterprises, Allshares serves approximately 300 multinational
public and private enterprise customers in more than 100 countries
with an end-to-end digital turnkey solution for equity plan
management. Companies and participants can use its proprietary
software and services to administer share plans in full compliance
with relevant regulations, legal, and tax frameworks, as well as
deliver seamless and automated IFRS reporting of share plans to
companies. For more information, visit www.allshares.com
About Novare Pay
Novare Pay is a premier provider of remuneration services to
multinationals. With a dedicated team of over 50 seasoned
specialists stationed across Stockholm, Oslo, and London, Novare
Pay offers bespoke compensation services and analytics tailored to
clients' needs. Novare Pay boasts an impressive track record of
high-growth, high-margin fundamentals, while serving over 900
clients in more than 60 countries. For more information, visit
www.allshares.com
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Jillian Hazelton Head of Marketing & Communications
Jillian.hazelton@bregal.com