The Apax Digital Fund II invests in Magaya

Apax Global Alpha Limited

The Apax Digital Fund II invests in Magaya

On 31 January 2023, the Apax Digital Fund II ("ADF II"), in which AGA is a limited partner in, announced an investment in Magaya, a leading digital freight software platform that automates critical workflows for international logistics providers. ADF II's investment forms part of a 50:50 recapitalisation alongside financial sponsor LLR Partners and other existing shareholders.

Founded in 2001, Magaya's comprehensive suite of solutions is proving to be more critical than ever as companies face an increasingly dynamic global trade environment, with the recent global pandemic, geo-political uncertainty and economic challenges compounding the everyday pressures faced by customers. Within this context, supply chain stakeholders are turning to digital and software solutions to become more adaptable, agile, and resilient to remain competitive. The company currently serves c.2,300 largely small and medium business customers across over 100 countries. ADF II believes the company's highly configurable platform, transparent pricing model, strong brand and customer service-focus uniquely positions it within a large, attractive, yet highly fragmented market. The thesis is to back the company to achieve its 'good to great' transformation, working with Apax's Operational Excellence Practice to execute on several important value creation levers to accelerate organic growth.

In 2021, AGA made a commitment of $90m to ADF II. On a look-through basis, AGA is expected to invest approximately €6.8m in Magaya. Note that these figures relate to AGA's look-through position of ADF II's investment in Magaya and are stated before taking into account any closing adjustments and are translated into Euro based on today's exchange rates where applicable.¹

"Over the last 20 years Magaya has created a stand-out product offering that is valued and relied upon by over 2,300 customers across the globe. We are proud to have LLR's continued support and look forward to leveraging Apax's global footprint and operating resources. My team and I look forward to Apax and LLR's combined experience helping software businesses scale as well as their commitment to continue to support Magaya's geographic and product expansion through organic investment as well as strategic M&A," added Gary Nemmers (CEO of Magaya).

For more information about the transaction, please visit: https://www.apax.com/news/press-releases/

END

Contact details

Investor Relations - AGA

Lorraine Rees

T: 07889089220

E: [email protected]

Footnotes

Notes

1.

Note that references in this announcement to Apax Global Alpha Limited have been abbreviated to "AGA" or "the Company". References to Apax Partners LLP have been abbreviated to "Apax" or "the Investment Adviser"

2.

Please be advised that this announcement may contain inside information as stipulated under the Market Abuse Regulations (EU) NO. 596/2014 ("MAR")

3.

This announcement is not for release, publication or distribution, directly or indirectly, in whole or in part, into or within the United States or to "US persons" (as defined in Regulation S under the United States Securities Act of 1933, as amended (the "Securities Act")) or into or within Australia, Canada, South Africa or Japan. Recipients of this announcement in jurisdictions outside the UK should inform themselves about and observe any applicable legal requirements in their jurisdictions. In particular, the distribution of the announcement may be restricted by law in certain jurisdictions

4.

The information presented herein is not an offer for sale within the United States of any equity shares or other securities of Apax Global Alpha Limited ("AGA"). AGA has not been and will not be registered under the US Investment Company Act of 1940, as amended (the "Investment Company Act"). In addition, AGA's shares (the "Shares") have not been and will not be registered under the Securities Act or any other applicable law of the United States. Consequently, the Shares may not be offered or sold or otherwise transferred within the United States, or to, or for the account or benefit of, US Persons, except pursuant to an exemption from the registration requirements of the Securities Act and under circumstances which will not require AGA to register under the Investment Company Act. No public offering of the Shares is being made in the United States

5.

This announcement may include forward-looking statements. The words "expect", "anticipate", "intends", "plan", "estimate", "aim", "forecast", "project" and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding AGA's intentions, beliefs or current expectations concerning, among other things, AGA's results of operations, financial condition, liquidity, prospects, growth and strategies. The forward-looking statements in this presentation are based on numerous assumptions regarding AGA's present and future business strategies and the environment in which AGA will operate in the future. Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance or achievements of AGA to be materially different from those expressed or implied by such forward looking statements. Many of these risks and uncertainties relate to factors that are beyond AGA's ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behaviour of other market participants, the actions of regulators and other factors such as AGA's ability to continue to obtain financing to meet its liquidity needs, changes in the political, social and regulatory framework in which AGA operates or in economic or technological trends or conditions. Past performance should not be taken as an indication or guarantee of future results, and no representation or warranty, express or implied, is made regarding future performance. AGA expressly disclaims any obligation or undertaking to release any updates or revisions to these forward-looking statements to reflect any change in AGA's expectations with regard thereto or any change in events, conditions or circumstances on which any statement is based after the date of this announcement, or to update or to keep current any other information contained in this announcement. Accordingly, undue reliance should not be placed on the forward-looking statements, which speak only as of the date of this announcement.

About Apax Global Alpha Limited

AGA is a Guernsey registered closed-ended collective investment scheme incorporated as a non-cellular company that listed on the London Stock Exchange on 15 June 2015. It is regulated by the Guernsey Financial Services Commission.

AGA's objective is to provide shareholders with capital appreciation from its investment portfolio and regular dividends. The Company is targeting an annualised Total Return, across economic cycles, of 12-15% (net of fees and expenses) including a dividend yield of 5% of Net Asset Value.

The investment policy of the Company is to make Private Equity investments in Apax Funds, and Derived Investments which are investments in equities and debt derived from the insights gained via Apax's Private Equity activities.

Further information regarding the Company and its publications are available on the Company's website at www.apaxglobalalpha.com.

About Apax Partners LLP

Apax Partners LLP ("Apax") is a leading global private equity advisory firm. For 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $60 billion. The Apax Funds invest in companies across four global sectors of Tech, Services, Healthcare and Internet/Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

Apax is authorised and regulated by the Financial Conduct Authority in the UK.