Carlsquare

𝗖𝗮𝗿𝗹𝘀𝗾𝘂𝗮𝗿𝗲 𝗖𝗲𝗹𝗲𝗯𝗿𝗮𝘁𝗲𝘀 𝗣𝗿𝗼𝗺𝗼𝘁𝗶𝗼𝗻𝘀: 𝗦𝗽𝗿𝗶𝗻𝗴 𝟮𝟬𝟮𝟲 🚀 We are proud to announce our biannual spring round of promotions! This year, 19 team members are stepping into new roles, taking on greater responsibilities in recognition of their outstanding performance and the dedication they bring to everything they do at Carlsquare. Watching our colleagues take these next steps is something we genuinely love to celebrate. To each of you: congratulations! You make Carlsquare what it is, and we are confident you will thrive in your new roles.👏 Niklas Hopf Tizian Wienstroth Abasin Bahrami Simon Fischer Moritz Güldner Robin Klein Dennis Walter Hannah von Luckner Lisanne Hüsemann Stefan Lauffer Maximilian Schartel Sophie von Hugo Patrick Schott Lukas Moritzen Nicolas Gruber Antoine Sané Polina Amini Alexander Staneker Tanja Lammert #Carlsquare #WeCloseDeals #Promotions

𝐓𝐡𝐞 𝐌𝐨𝐝𝐞𝐫𝐧 𝐃𝐚𝐭𝐚 𝐒𝐨𝐟𝐭𝐰𝐚𝐫𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞: 𝐃𝐚𝐭𝐚 𝐂𝐨𝐧𝐭𝐞𝐱𝐭 𝐃𝐞𝐞𝐩-𝐃𝐢𝐯𝐞 Our latest report in our data software series covers Data Context and its important role within the Modern Data Software Landscape as the missing layer between data investment and data trust. Maintaining a robust data context function is the connective layer that links data assets, pipelines, and usage, and is a prerequisite for reliable AI, regulatory compliance, and self-service analytics.   Most enterprises are data-rich and context-poor. They have invested heavily in platforms, catalogs, and quality tools, but find it increasingly difficult to know the source, the trustworthiness, and the safety for AI exposure. 𝐊𝐞𝐲 𝐭𝐡𝐞𝐦𝐞𝐬 𝐢𝐧𝐜𝐥𝐮𝐝𝐞: • Why data context is an operating layer, not a feature, and why metadata, lineage, observability, and governance must work together to deliver it • How AI is raising the stakes, with ungoverned, context-free data producing hallucinations, sensitive-data leakage, and unreliable outputs • Why point solutions are losing ground as buyers converge on integrated platforms that deliver unified data trust across the full stack • How data context connects to every layer of the modern data stack: from MDM and iPaaS to data quality, lineage, security, and analytics 𝐈𝐧 𝐚 𝐧𝐮𝐭𝐬𝐡𝐞𝐥𝐥: Data context is what makes analytics reliable, governance enforceable, and AI safe. Enterprises that treat it as documentation rather than infrastructure are accumulating compounding data debt, and the market is consolidating rapidly around platforms that solve it end to end. This is the third report in our series on the Modern Data Software Landscape. Read our first two reports—links in the comments. Should you have questions about the software sector landscape or wish to discuss your M&A strategy please reach out to: Susan Blanco, John A. Cooper, Jon Tingling, Mark Miller, Michael Moritz, Gaby Silvestris, or Erik Lundberg #MergersAndAcquisitions #DataStrategy #Data #Software

We're #hiring. Apply today or share this post with your network.

We're #hiring. Apply today or share this post with your network.

𝗖𝗮𝗿𝗹𝘀𝗾𝘂𝗮𝗿𝗲 𝘅 𝗚𝗹𝗼𝗯𝗮𝗹𝘀𝗰𝗼𝗽𝗲 𝗔𝗰𝗮𝗱𝗲𝗺𝘆 At the beginning of March, our juniors and intermediates came together in the vibrant city of Barcelona for this year’s Globalscope Partners Academy. 🏖️ Globalscope is a worldwide partnership of 57 independent M&A advisory firms across 49 countries, dedicated to delivering best-in-class cross-border M&A advice to mid-market companies. By combining local expertise with a truly global reach, member firms collaborate on transactions, share deal flow and support each other in executing complex cross-border mandates. As a proud member of Globalscope, the annual Academy is always one of the highlights of the year. The agenda struck a perfect balance between creativity and collaboration: from a city-wide rally to a hands-on paella cooking class and even a graffiti workshop that brought out everyone’s artistic side. 🎨 Alongside these experiences, the program offered plenty of opportunities to sharpen core M&A skills, covering everything from modelling and valuation to negotiation strategies and transaction structures. 📈 A big thank you to our hosts Sanja Ivković and her colleagues at Globalscope for delivering another outstanding Academy. And of course, thanks to the entire Carlsquare team for contributing energy, insight and our trademark collaborative spirit throughout. 👏 Already looking forward to what next year has in store! 📅 #Carlsquare #Globalscope #GlobalscopeAcademy #MergersAndAcquisitions

𝗘𝘂𝗿𝗼𝗽𝗲𝗮𝗻 𝗰𝗹𝗲𝗮𝗻𝘁𝗲𝗰𝗵 𝗶𝘀 𝗿𝗲𝗰𝗮𝗹𝗶𝗯𝗿𝗮𝘁𝗶𝗻𝗴 — 𝗮𝗻𝗱 𝘀𝗺𝗮𝗿𝘁 𝗰𝗮𝗽𝗶𝘁𝗮𝗹 𝗶𝘀 𝗹𝗲𝗮𝗱𝗶𝗻𝗴 𝘁𝗵𝗲 𝘄𝗮𝘆. After the investment peak of 2022–2023, European cleantech funding has dropped by ~30% — with France experiencing an even sharper correction of ~55%. Yet the energy transition is not on pause. It is evolving. Two key findings stand out. First, despite the funding downturn, M&A multiples for cleantech SMEs remain above the French market average, with EV/EBITDA holding at 8.3x — a strong signal of sustained investor conviction in the sector. Second, asset-backed hybrid financing structures are enabling entrepreneurs and investors to target higher cash-on-cash multiples, reshaping how cleantech growth is funded. This Carlsquare report, produced in partnership with FCI, offers a comprehensive view of the French and European cleantech landscape: financing dynamics, valuation trends, M&A activity, and investor return expectations — equipping entrepreneurs and investors with the insight needed to navigate this shifting environment. At Carlsquare, we advise cleantech innovators, corporates, and investors at every stage of their growth — from growth equity and infra financing to M&A, across Europe and North America. Please reach out if you need corporate finance advice: Alex Carre de Malberg, Mathias Möhrpahl, or our teams across Europe. 🔗 Download the full report now. Link is in the comments. #Cleantech #MergersAndAcquisitions #Carlsquare #PrivateEquity #EnergyTransition #GreenFinance #VentureCapital

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We are delighted to announce that Maurice Harbison has joined Carlsquare as Partner, strengthening our coverage in Software, FinTech and Digital Services. Maurice will be based across our Berlin and London offices, supporting clients on both sides of the Channel. Maurice brings more than 20 years of experience in investment banking, having advised on transactions with a total value of over US$40 billion across M&A, equity capital markets and growth financing. Before joining Carlsquare, he was a Partner at EY in London and previously held senior roles at Bryan Garnier & Co and other technology-focused mid-market advisory firms. Maurice shared his excitement about joining Carlsquare: “The combination of entrepreneurial culture and genuine cross-border transaction expertise made this an easy decision. I look forward to bringing my experience in Software, FinTech and Digital Services to our international clients.” Michael Moritz, Managing Partner at Carlsquare, added: “Maurice’s impressive track record and deep sector expertise are perfectly aligned with our growth ambitions. We’re thrilled to have him on board.” Welcome to the team, Maurice! #Carlsquare #MergersAndAcquisitions #Technology #Growth #CorporateFinance #CrossBorderDeals

Carlsquare advised XPLN, A Similarweb Company and its shareholders EKK & Co. and Parsionate Group on the sale to Similarweb, a US-based, publicly listed data provider. For more than ten years, XPLN has provided AI-driven digital shelf analytics and pricing intelligence that help consumer brands optimize product content, pricing, and performance across e-commerce channels. With a customer base of more than 100 brands, XPLN has established itself as a trusted partner for data-driven e-commerce decision-making. The transaction connects XPLN's digital shelf analytics capabilities with Similarweb's global data infrastructure, enabling brands to understand not only what is happening on the digital shelf, but why – powered by real consumer behavior data across 750+ global retailers. Congratulations to the deal team: Nils Zettelmeyer, Michael Moritz, Tizian Wienstroth, Abasin Bahrami. Learn more about the deal via the link in the comments. #WeCloseDeals #Carlsquare #MergersAndAcquisitions #DealAnnouncement

𝗙𝗿𝗼𝗺 𝘁𝗵𝗲 𝗧𝗲𝘁𝗼𝗻𝘀 𝘁𝗼 𝘁𝗵𝗲 𝗧𝗿𝗲𝗻𝗱𝘀: 𝗖𝗮𝗿𝗹𝘀𝗾𝘂𝗮𝗿𝗲'𝘀 𝗛𝗖𝗜𝗧 𝗣𝗿𝗲𝗱𝗶𝗰𝘁𝗶𝗼𝗻𝘀 𝗳𝗼𝗿 𝟮𝟬𝟮𝟲 Some conferences you attend. Others are experiences that leave a profound impact. The Healthcare Summit at Jackson Hole is unlike any other in the industry. Now in its 16th year, HSJH is one of the most exclusive invite-only gatherings in healthcare — a room where C-suite executives, policymakers, payors, health systems, HealthTech innovators, and advisors candidly debate the current state of play in healthcare and the changes ahead. No “deals” just real, honest, open discussion. Greg Hartlein and John A. Cooper from Carlsquare's HealthTech team were honored to be among those invited. A heartfelt thank you to David Bjork and the HSJH team for including us in this remarkable community. We forged great friendships, made lasting memories, and are already looking forward to 2027. Here's what we heard, debated, and are bringing back to our clients as Carlsquare's HCIT themes and predictions for 2026: 🔹AI is healthcare's greatest enabler — not its disruptor. Healthcare is regulated, privacy-constrained, and workflow-complex. AI cannot rip and replace deeply embedded software in Healthcare. The winners will embed AI to drive real efficiency and better outcomes. 🔹Regulatory winds are shifting, cautiously. There's genuine momentum around interoperability and making data more usable across the ecosystem. That's encouraging. But affordability and utilization headwinds are real for both payors and providers — the policy environment still deserves close attention. 🔹Ambulatory care is the battleground. Health systems are executing on multiple fronts — virtual care, concierge models, hospital-at-home, specialty expansion, primary care investment. Care keeps moving out of inpatient settings, and the technology enabling that shift is set up for sustained demand. 🔹Capital is flowing, but it's concentrated. The deal market is active — just bifurcated. Mega-deals on one end, tuck-ins and distressed opportunities on the other. The most compelling story of 2026 might be the middle-market backlog finally starting to clear. We're seeing early signs. 2026 is going to be a pivotal year for HealthTech. If you want to talk through any of these themes — what they mean for your business or your portfolio — get in touch with Greg or John A. directly. Jackson Hole to your boardroom. Let's talk. #HealthcareIT #HealthTech #DigitalHealth #HCIT #AI #AmbulatoryCare #Interoperability #PrivateEquity #MergersAndAcquisitions #HealthcareInnovation #Carlsquare #JacksonHole #HSJH #2026Prediction