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10/2024100%

Tracegains acquired by Veralto Corporation

UNITED STATES Software / Industry-Specific Software EV $300–700M

Context

Veralto has acquired the holding company of TraceGains. This acquisition strategically expands Veralto’s PQI segment by integrating TraceGains’ food safety software with Esko’s digital workflow solutions for packaging and label design. The deal is a pure "Software-as-a-Service" play, as TraceGains generates over 95% of its sales from recurring subscriptions. Veralto plans to leverage its global sales channel and the Esko customer base to accelerate TraceGains' market presence. Financially, the deal aligns with Veralto’s disciplined capital allocation, with an expected double-digit return on invested capital by year 6. The transaction was funded entirely with cash on hand, highlighting Veralto's strong balance sheet following its recent spin-off.

Tracegains, which reported an EBITDA margin of [members only] in 2024, is valued in this transaction at an EV/EBITDA multiple of [members only].

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Target

TraceGains is a leading provider of cloud-based software solutions (SaaS) dedicated to the food and beverage industry. Its business model revolves around a "networked ecosystem" that connects over 80,000 supply chain locations, providing digital visibility into more than 550,000 ingredients. The platform enables consumer brands to automate digital workflows for compliance, supplier quality monitoring, and traceability. By digitizing critical workflows across new product development and packaging, TraceGains helps brands meet stringent global regulations while reducing time-to-market. The company operates with a high-margin, recurring revenue model, serving as a mission-critical transparency tool for global food stakeholders for over 15 years.

Ent. Value

$300–700M

Equity Value

[members only]

Multiples

EV / Revenue

Above 6x

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (USD)

Year
Rev
EBITDA
EBIT
2024
$25–50M
[members only]
[members only]
2023
$25–50M
[members only]
[members only]

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REFERENCES

Valuation range: EV $300–700M

Revenue range: $25–50M

EV/Revenue range: Above 6x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Tracegains by Veralto Corporation are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: tracegains

FAQ

What transaction does this page cover?

This page covers Veralto Corporation’s acquisition of 100% of Tracegains, an American company specialised in Industry-Specific Software, in 2024.

How was the acquisition of Tracegains by Veralto Corporation valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the $300–700M band and its EV/revenue multiple within the Above 6x range. Exact figures are available to members.

What was Tracegains’s revenue at the time of the deal?

At the time of the transaction, Tracegains’s annual revenue was estimated within the $25–50M range (FY 2024). Detailed financial figures are available to members.

What sources support the information on this transaction?

The details of this transaction are sourced directly from the official corporate announcement published on the parties’ institutional website, ensuring primary-source verification of the closing and perimeter.

What is mynth?

mynth is the first free M&A database dedicated to Small & Mid-Cap transactions. We centralize Enterprise Values, revenue multiples, EBITDA multiples and transaction financials that are typically locked behind five-figure subscriptions on platforms like Capital IQ or Mergermarket. On mynth, searching and browsing deals is completely free. Our mission is simple: make professional-grade valuation intelligence accessible to every M&A advisor, independent consultant, Private Equity professional and student, without the burden of expensive annual licenses.