Key Takeaways
- • Advent International has agreed to acquire Vermeg, the Tunisian-British financial software group, from Charterhouse Capital Partners and founder Badreddine Ouali, with financial terms not disclosed.
- • Abu Dhabi Investment Authority (ADIA) will participate as a minority co-investor through a wholly owned subsidiary.
- • Ouali will retain a stake in Vermeg and serve as vice-chairman, continuing to guide strategic direction and customer relations.
- • Mike Ettling, an Advent operating partner with more than 30 years in enterprise technology, is expected to become chairman upon completion.
- • The transaction is expected to close in the first half of 2027, subject to customary closing conditions and regulatory approvals.
Summary
US private equity firm Advent International has agreed to acquire Vermeg, the Tunisian-British financial software group, from British investment firm Charterhouse Capital Partners and its founder, Badreddine Ouali, according to African Manager. The financial terms of the transaction were not disclosed.
The deal also involves a subsidiary wholly owned by the Abu Dhabi Investment Authority (ADIA), which will participate as a minority co-investor. Ouali will retain a stake in Vermeg and continue to contribute to its strategic direction and customer relations in the role of vice-chairman. Mike Ettling, an Advent operating partner with more than 30 years of experience in enterprise technology, is expected to become chairman following completion of the transaction.
Advent plans to support Vermeg's next growth phase through increased investment in product development, artificial intelligence and customer relationships across international markets. The acquisition comes as financial institutions face growing regulatory requirements and rising demand for more sophisticated technology, particularly in capital markets and the insurance sector.
Founded by Ouali, Vermeg specializes in software solutions for capital markets and life insurance companies, serving clients in highly regulated financial markets. The transaction is expected to close in the first half of 2027, subject to customary closing conditions and regulatory approvals.
The deal also involves a subsidiary wholly owned by the Abu Dhabi Investment Authority (ADIA), which will participate as a minority co-investor. Ouali will retain a stake in Vermeg and continue to contribute to its strategic direction and customer relations in the role of vice-chairman. Mike Ettling, an Advent operating partner with more than 30 years of experience in enterprise technology, is expected to become chairman following completion of the transaction.
Advent plans to support Vermeg's next growth phase through increased investment in product development, artificial intelligence and customer relationships across international markets. The acquisition comes as financial institutions face growing regulatory requirements and rising demand for more sophisticated technology, particularly in capital markets and the insurance sector.
Founded by Ouali, Vermeg specializes in software solutions for capital markets and life insurance companies, serving clients in highly regulated financial markets. The transaction is expected to close in the first half of 2027, subject to customary closing conditions and regulatory approvals.
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