Strada Partners has sold TOBA to Ortec S.A., a portfolio company of Battery Ventures
TOBA
TOBA is Belgium and Luxembourg’s leading workforce management software platform for the care and cure sector. More than 600 healthcare organizations rely on TOBA’s solutions every day, supporting over 300,000 professionals across more than 850 locations. The platform helps enable seamless scheduling, time tracking, staff management and talent development.
The Deal
Strada Partners has sold TOBA, the leading workforce management software platform for the Belgian and Luxembourg care and cure sector, to Ortec. This transaction also marks the firm’s first exit. Over the last four years, Strada helped build a new management team, strengthened the organization, accelerated product innovation and successfully transitioned the business toward a Software as a Service (SaaS) model. During Strada’s ownership, TOBA grew its recurring revenue by more than 250% and today supports more than 300,000 healthcare professionals across over 850 care locations.
Our Perspective
Patrice Maas, Lincoln International Managing Director who led the transaction, commented, “It has been a privilege to support Strada Partners and management on the successful sale of TOBA, marking the first exit for Strada Partners. Leveraging our deep sector expertise, we positioned TOBA as a differentiated, mission-critical software platform and executed a highly competitive process that delivered an outstanding outcome for our client. We are grateful for the trust placed in our team and wish both TOBA and Ortec every success as they embark on the next chapter of growth together.”
Gabriel Englebert, Lincoln International Managing Director & Head of Belgium, commented, “Supporting Strada Partners on their first exit highlights the current momentum of Lincoln International in the Belgian market. This transaction showcased again how we are able to deliver premium outcomes for our clients through local execution capabilities and global sector expertise.”
Strada Partners
Strada Partners is an independent European investment firm focusing on majority investments in technology, healthcare and business services, sectors where the team combines deep operational and investment experience. To date, Strada has two funds with approximately €600 million assets under management and has completed 15 platform investments: TOBA, AXI Digital, Anchr, ISH (Invincible Software Holdings), Elsyca, Tresco, Bloom, Datasharp, Numeris, Insera, SoFlow Service Partners, Cofactor, Rivage, CSU and Mercurio.
Ortec
Ortec is a global provider of advanced planning and optimization software and analytics solutions. Its technology helps organizations make better decisions, improve operational efficiency and optimize workforce, logistics and resource planning.
Founded more than 40 years ago, Ortec helps organizations translate data and mathematics into smarter decision-making. Today, the company serves more than 1,100 customers with over 900 employees across 13 countries.
Battery Ventures
Battery Ventures partners with exceptional founders and management teams developing category-defining businesses in markets including software and services, enterprise infrastructure, online marketplaces, healthcare IT and industrial technology. Founded in 1983, the firm backs companies at all stages, ranging from seed and early to growth and buyout and invests globally from six strategic locations: Boston; San Francisco and Menlo Park, Calif.; Herzliya, Israel; London; and New York.
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