Inside the Deal
How Baird Advised Maxburg on Its Sale of Maltego to Charlesbank
Baird served as exclusive financial advisor to Maltego and its shareholders (Maxburg Beteiligungen III & founders) on the sale to Charlesbank. Combining its expertise in the data analytics and cybersecurity market with its technology and software practice, Baird successfully assisted Maltego on this transaction.
Read more about this transaction below in our latest Inside the Deal.
Background & Situation
- Maltego is a leading intelligence platform, used by institutions such as the FBI and INTERPOL, financial organizations and half of the DOW 30, for data integration and graphical link analysis of complex investigations
- Maltego is relied upon by security experts, journalists, and researchers to mine, merge, and map investigative data. It has become a go-to platform for making sense of massive data sets while investigating a wide variety of complex cases including cybersecurity threat intelligence, law enforcement, national security, and trust & safety
- Under Maxburg’s ownership and with Philip Mayrhofer as CEO, Maltego has grown to ca. 100 employees and quadrupled ARR whilst remaining profitable
- Maltego was seeking investment from an experienced software investor to help drive the next stage of growth of the business
Baird Value-Add
- Managed inbound interest and ran an intelligently structured process that maintained competitive tension throughout
- Supported the Company with deep sector and domain expertise to craft tailored, high-impact investor materials by anticipating key areas of due diligence
- Baird secured a deliverable deal that involved complex negotiations to drive value and deal certainty
Outcome
- In April 2023, Maltego announced its sale to Charlesbank, a US-based middle-market private equity investment firm with more than $15bn cumulative capital raised since inception
- Charlesbank will support Maltego’s next phase of growth through investments in sales & marketing, technology development, strategic acquisitions and geographic expansion
The Maltego team is extremely pleased with this successful transaction. On the one hand, it is confirmation of our hard work over the past years building an organisation that is a reliable and supportive partner to who matter most to us: investigators, analysts and researchers that use our platform to connect the dots and discover the truth. On the other hand, we are convinced that Charlesbank is the right partner to helps us accelerate our growth and reach every investigator with new products, establish a global presence and empower our valued ecosystem to jointly work towards our mission.
Philip Mayrhofer, CEO, Maltego
We are very happy to have partnered with Philip and the Maltego team over the last 5 years during which Maltego has truly established itself as an organisation in Munich, Germany, with a headcount of more than 100 people currently. Together, we grew ARR more than 4x and achieved consistent, high profitability. We are proud to have supported Philip and the Maltego founders in setting up an international path for growth and look forward to finding continued success with its new partner Charlesbank who have impressed us and the Maltego Management team with their strong software expertise and focus on people. We believe that Darren and the team provide for a very good home for Maltego in the future.
Moritz Greve, Partner, Maxburg
We have been impressed with Maltego’s recent track record of strong, profitable growth. This clearly is a testament of its product’s fundamental user value and the productive and entrepreneurial partnership between Maxburg and the team over the last years. We are excited to help write Maltego’s next chapter and have reserved significant additional capital to pursue follow-on acquisitions to continue to develop the market leading platform for investigators globally.
Darren C. Battistoni, Managing Director, Charlesbank
For additional information about this transaction, please contact:
Simon Pearson
+44-20-7667-84090
spearson@rwbaird.com
Marco Krass
+49-69-1301-4970
mkrass@rwbaird.com
Oliver Meyer
+49-69-1301-4922
omeyer@rwbaird.com
Chelsea Smith
+44-20-7667-8342
cmsmith@rwbaird.com
Max Link
+44-20-7667-8468
mslink@rwbaird.com
Jan-Martin Kogelfranz
+49-69-1301-4919
jmkogelfranz@rwbaird.com
