CPP Investments buying 20% stake in European software company Team.blue

TORONTO — The Canada Pension Plan Investment Board is investing about $811 million for a 20 per cent stake in European company Team.blue, which helps simplify online business for entrepreneurs and small businesses.

The transaction values Team.blue at about $7 billion.

The software company says the new investment will support its growth strategy.

Hafiz Lalani, global head of direct private equity at CPP Investments, says Team.blue operates in an attractive, resilient and growing online presence sector.

Hg, a private equity firm that first invested in Team.blue in 2019, remains the largest single investor in the company, which has 3.3 million customers across 22 European countries.

CPP Investments manages the investments of the Canada Pension Plan.

This report by The Canadian Press was first published July 10, 2024.

The Canadian Press