Advent International acquires a minority interest in Spend Management Leader Medius

STOCKHOLM, SWEDEN, March 16, 2022 – Medius, a leading provider of source to pay solutions, today announced that global private equity firm Advent International has acquired a minority stake in the business. Following the deal, Marlin Equity Partners remains Medius’ majority shareholder. The terms of the transaction were not disclosed.

Founded in Stockholm in 2001, Medius is a global leader in AP automation, payments, sourcing and procurement with more than 500 employees serving thousands of customers across the globe. The company’s suite of products and services automate the process of receiving, handling, approving, and paying an invoice, and simplify the onboarding and managing of vendors.

The common goal is to accelerate the development of Medius’ core technology, including leveraging AI and ML to deepen its automation capabilities, and further the company’s vision of a touchless invoicing process. In addition, the intention is to strengthen Medius’ end-to-end, source-to-pay solution through strategic business investments and M&A activity in the coming months.

“We are thrilled to welcome Advent as a partner for Medius,” said Jan-Olivier Fillols, a Managing Director at Marlin Equity Partners. “The spend management market has an incredible amount of potential, and we believe Medius is uniquely positioned for continued success. Both Advent and Marlin share similar values, while having enormous technology know-how and far-reaching operational capabilities. The combination of our teams, as well as our global resources will drive significant value to Medius customers and further enhance Medius’ strategic value.”

Jim Lucier, CEO of Medius comments: Medius has a big, bold vision for the future of the source to pay category, and has the market-leading technology, deep domain expertise and leadership team required to execute against it. We’re delighted to welcome Advent, with the category insights and intelligence its team brings, as an investor in Medius.”

As part of the deal, Douglas Hallstrom, Director at Advent will join the Medius board. Hallstrom comments: “Finance professionals are starting to recognize the savings and efficiencies that AP automation can deliver, as well as its ability to reduce costly mistakes and eliminate fraudulent payments. As a result, we anticipate strong growth in this segment of the fintech market. We were also impressed by Marlin’s partnership-oriented culture and success achieved to date and believe Medius is uniquely positioned to become the category defining global business for the mid-market.”

About Medius 

Medius is a leading provider of cloud-based accounts payable automation solutions, helping organizations drive their business forward by enabling best-in-class process efficiency, cost saving opportunities and greater financial control. Thousands of customers use Medius solutions, managing transactions worth more than $180 billion annually. For more information, please visit

About Marlin Equity Partners

Marlin Equity Partners is a global investment firm with over $8.1 billion of capital under management. The firm is focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs. Marlin invests in businesses across multiple industries where its capital base, industry relationships and extensive network of operational resources significantly strengthen a company's outlook and enhance value. Since its inception, Marlin, through its group of funds and related companies, has successfully completed over 200 acquisitions. The firm has offices in Los Angeles, California and London, U.K. For more information, please visit

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in 390 companies across 42 countries, and as of September 30, 2021, had $86 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 250 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; healthcare; industrial; retail, consumer and leisure; and technology. For over 35 years, Advent has been dedicated to international investing and remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

For more information, visit Advent's tech website,, global website,, or LinkedIn page,

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