The Riverside Company (Riverside), a global investment firm focused on the smaller end of the middle market, has announced that Cryptomathic, a portfolio company of its affiliated European fund, has acquired TrustSkills, a Danish software company specialising in certificate lifecycle management.
Founded in 2013, TrustSkills focuses on automating the deployment, monitoring and renewal of digital certificates that secure online communication for organisations. Its flagship platform, TrustView, provides end-to-end automation of certificate management that helps clients prevent webserver outages, improve compliance and boost productivity. The company primarily operates in Scandinavia and its clients include municipalities and regional governments, industrials and utilities, tech and IT services and consumer businesses.
Karsten Langer, Riverside Europe Managing Partner, commented: “TrustSkills represents a highly strategic addition to Cryptomathic, strengthening its position in a rapidly growing segment of the cybersecurity market. Since our investment, we have focused on building the product offering and enhancing its commercial capabilities, and this transaction further accelerates that journey by adding a complementary business with strong market traction and significant growth potential.”
In 2021, Riverside acquired Cryptomathic, a leading Danish cybersecurity provider of advanced cryptographic software supporting mission‑critical security for financial institutions, government agencies and technology companies throughout the world. The add-on of TrustSkills will expand its capabilities in certificate lifecycle management and strengthen its overall security offering. It also provides immediate access to a proven, scalable platform with an established customer base, accelerating Cryptomathic’s entry into a rapidly growing market.
Dan Parksjö, Principal, who led the deal for Riverside, added: “The combination of Cryptomathic and TrustSkills will be powerful, bringing together highly complementary technologies to create a more comprehensive and scalable cybersecurity offering. We also see significant potential to accelerate international growth by leveraging Cryptomathic’s global sales and partner network, while further enhancing value through targeted commercial initiatives.”
Laurent Lafargue, CEO of Cryptomathic, said: “We are excited to welcome TrustSkills to the group. Its technology is a natural extension of our platform and enables us to better address our customers’ growing need for automated certificate management. Together, we are well positioned to deliver a more comprehensive solution to our clients while accelerating our international growth ambitions.”
Riverside has decades of experience investing in the Software & IT industry. The firm has completed more than 300 investments in this specialisation and has a team of global experts dedicated to growing these companies.
Working with Langer and Parksjö on the transaction were Riverside Europe team members Jeroen Lenssen (Senior Director), Nils Mjörnemark (Senior Associate) and Julian Heerdegen (Operating Executive). Ali Al Alaf, Managing Director, Head of European Origination, sourced the deal for Riverside.
