Synova, a leading growth investor, has announced the successful sale of its portfolio company Avantra (formerly Syslink AG) to funds managed by Resurgens Technology Partners, achieving a remarkable 4.5x return on investment. This exit marks Synova's first from a European-based investment, as Avantra, founded in Basel, Switzerland, specializes in AIOps software for the SAP ecosystem.

Avantra's platform enables clients to monitor and automate their SAP infrastructure using artificial intelligence, which significantly reduces operational costs and complexities. Under Synova's guidance, Avantra experienced transformational growth, including its entry into the North American market. The establishment of a U.S.-based sales force has led to substantial revenue growth, with several Fortune 500 companies among its clients. The company's Annualized Recurring Revenue (ARR) has also seen significant increases, reflecting strong SaaS performance metrics.

The sale of Avantra is Synova's fourth exit in 2024, with an average Multiple on Invested Capital (MOIC) of 5.3x across all transactions this year. John Appleby, CEO of Avantra, praised Synova for being a true partner, highlighting their invaluable support in building a strong leadership team and enhancing product development, which has driven exceptional growth in North America.

Alex Bowden, a partner at Synova, emphasized that their journey with Avantra aligns with their investment strategy of identifying high-potential businesses and providing the necessary operational support for transformational growth. He expressed satisfaction with the partnership and wished Avantra continued success in the future.

This successful exit underscores Synova's commitment to fostering growth in technology companies and reflects their strategic approach to investments in the sector.