TH Global Capital closes sale mandates in Eastern Europe and Baltics
TH Global Capital, a global investment bank, has successfully completed two deal mandates in Eastern Europe and the Baltics.
In August, Sofia-headquartered Indeavr announced it has been acquired by Marlabs, a private equity investor. TH Global Capital acted as the exclusive financial advisor to Indeavr’s shareholders.
Founded in 2005, Indeavr has a 200-strong team specialized in digital, data, and cloud engineering capabilities. The company, which also has an additional office in Geneva (Switzerland), serves leading companies across life sciences, consumer goods, energy and natural resources, specialty chemicals, and industrial engineering.
Commenting on the deal, Vivek Subramanyam, Founder and CEO of TH Global Capital, said: “We are delighted to announce this transaction, our 7th deal in Central Eastern Europe. This deal underscores TH’s deep expertise in digital transformation and product engineering. Indeavr is an exceptional company, and we wish the team continued success in their new strategic partnership with Marlabs.”
Meanwhile, earlier this month, Riga-based TestDevLab joined forces with Xoriant, an investor-owned global engineering and technology services company. TH Global Capital acted as the exclusive financial advisor to TestDevLab.
Founded in 2011, TestDevLab provides software quality engineering services, offering capabilities across test automation, performance, multimedia quality, accessibility, security, AI testing, and more. TestDevLab has a team of around 500 professionals.
Subramanyam noted: “We are thrilled to announce this landmark transaction, marking Latvia as the 30th country where we have successfully completed a deal. We are very pleased to have supported TestDevLab throughout this journey. Their market-leading expertise and exceptionally skilled engineering team add substantial scale to Xoriant’s fast-growing platform. We extend our best wishes to both the TestDevLab and Xoriant teams for the road ahead.”
“The expertise of TestDevLab in quality assurance and engineering is second to none,” added Pablo Jorge, President at TH Global Capital. “TestDevLab stands out as a true innovator, backed by cutting-edge engineering capabilities and an exceptional roster of clients. This deal reinforces TH Global Capital’s strong global reach and our deep understanding of global tech services and software quality engineering market.”
