Apax Partners succeeds Mentha Capital as investor in Destiny Group

26 November 2019

Apax Partners, a Paris-based European leader in private equity, has signed an agreement with Mentha Capital to acquire 100% of Destiny. Destiny’s management team will make a significant reinvestment in the transaction alongside the funds managed by Apax.

Founded by Daan and Samuel De Wever, Destiny is a secure cloud communication solutions provider, serving innovative companies. With 220 employees and operations in Belgium and the Netherlands, the company has become the fastest-growing cloud and telecoms player in the Belgian B2B market.

Destiny owes its strong growth as a cloud telecoms operator to its dedication to service, its remarkable flexibility and the constant expansion in its range of high-quality services. Destiny’s solutions currently include fixed-line (VoIP) and mobile telephony, unified communications (UCaaS), data networks and secure cloud infrastructure services.

The objective of this investment is to enable Destiny to continue its rapid expansion in the fast-growing cloud-based unified communications market, to accelerate its international development and to continue its active acquisition strategy.

Daan De Wever, CEO and co-founder of Destiny, said: “I’m excited about the opportunity to partner with Apax in the next phase of Destiny’s growth. We look forward to work with Thomas de Villeneuve and the rest of the Apax team to grow our opportunity and become a European Leader and Challenger in Secured Enterprise Cloud Communications. I would like to sincerely thank and congratulate Mentha Capital for their fantastic support throughout the last 3,5 years. This result would never have been possible without their full support in the execution of our strategy.

Thomas de Villeneuve and Damien de Bettignies, Partners at Apax Partners added:
We are extremely enthusiastic about the idea of supporting Daan and Samuel De Wever and their team in this new phase of Destiny’s development. Destiny is an extraordinary and innovative company, a leading alternative operator providing cloud communication services to innovative companies in Belgium and the Netherlands. We will provide the company with the expertise and the financial resources it needs to pursue the impressive growth it has achieved in part through a very active acquisition strategy!”

Edo Pfennings, Partner at Mentha Capital, said: “Since we partnered with Daan, Samuel and their team, Destiny has grown to become the leading B2B cloud communications challenger in the Benelux. After successfully completing and integrating eight acquisitions, the company is now ready for pan-European expansion. We had a fantastic journey with the Destiny team, and we are confident that Apax Partners is the right partner to support their ambitions for the next phase of growth.”