Bregal Milestone, a European software growth private equity firm, announced a majority strategic growth investment in Ridango, a global provider of mission-critical public transportation software. This investment is made in partnership with founder Erki Lipre and the Ridango management team. The terms of the deal were not disclosed.
Launched in 2009, Ridango is a global market leader in intelligent transportation software for public transport authorities, municipalities, cities, and private transport operators. And Ridango has built one of the world’s leading integrated automated fare collection and operations control software platforms, serving over 150 customers in over 25 countries across five continents.
The company’s modern software offers end-to-end transit management services, from account-based ticketing to contactless bank card acceptance and real-time passenger information, and automatic vehicle location operations management to deliver better transit services, more accurate real-time visibility, and improved passenger satisfaction.
Through operational and financial support from Bregal Milestone, Ridango aims to accelerate its organic and inorganic growth. And following accelerated customer activity in Sweden, including customer wins from Västtrafik, Sörmlandstrafiken, and Västmanlandstrafiken, the company will operate from its new European headquarters in Sweden; its R&D hubs in Estonia and Slovenia; and its regional sales and marketing hubs following major customer wins in the Middle East (UAE, Qatar, and Saudi Arabia) and APAC (Singapore and Hong Kong).
White & Case served as legal counsel and Deloitte as financial advisor for Bregal Milestone. And Sorainen served as legal counsel for Ridango.
The deal will be closed after necessary regulatory approvals have been obtained.
KEY QUOTES:
“Our partnership with Bregal Milestone marks a significant next step in our growth strategy. We extend our sincerest thanks to our prior investors, BaltCap Private Equity, and look forward to the proactive support and expertise from Bregal Milestone and their in-house value creation team, Milestone Performance Partners, to help accelerate our investment in next-generation technology and accelerate our GTM activity in new markets. Public transportation is at the heart of sustainable urban development, and the team at Ridango is tirelessly committed to delivering the most advanced solutions to help modernize transit networks for the future.”
– Erki Lipre, Founder and CEO of Ridango
“Ridango’s strong commitment to innovation has positioned it as a software operating system of choice for transit operators looking to modernize fare collection and optimize passenger experience. We see strong secular tailwinds as private transport operators and public rail and mass transport operators accelerate investments in digitalization, underpinned by the accelerated shift from card-based ticketing to account-based ticketing systems, and we are thrilled to partner with Erki and his leadership team to support Ridango in capitalizing on these megatrends.”
– Cyrus Shey, Managing Partner at Bregal Milestone
“We are honored to enter this strategic partnership with Ridango, a company that continues to drive innovation and deliver customer service with what we see as the most advanced end-to-end transit software offerings featuring AI-driven predictive analytics and cloud-based fare collection. We believe that Ridango is uniquely positioned to lead the digital transformation for public transportation authorities and operators alike, creating sustainable long-term value for the communities in which they operate.”
– Sebastian Charpentier, Principal at Bregal Milestone
