WebPros

WebPros comprises a portfolio of brands powering growth within the web enablement ecosystem, including cPanel and Plesk, which are two of the most widely used web-hosting automation software platforms.

For the 12-month period to December 2025, WebPros delivered revenue and EBITDA growth of 8% and 7% respectively, versus prior year. The company continues to have high levels of recurring revenue, providing clear revenue visibility while continuing to achieve strong EBITDA margins of ~60% YTD. In the period, WebPros completed the acquisition of Comet Licensing Limited, which delivers reliable and secure backup solutions for managed service providers, businesses and IT professionals.

Contabo

A leading cloud infrastructure provider offering hosting services to developers and SMEs, with over 200,000 customers from ~190 countries.

Contabo delivered a slight softening in both revenue and EBITDA performance in the 12 months to December 2025. Contabo continues to deliver exceptional profitability, but growth has slowed over the past two years due to unusually high churn driven by operational challenges. The technical platform issues that impacted the performance of the core VPS hosting product in 2024 have been convincingly resolved since the start of 2025. This is reflected in strong up-time metrics across all data centres and steadily improving customer satisfaction and review metrics. In 2025, Contabo appointed a new CEO who brings more than two decades of leadership experience across the hosting and cloud industries.

vitroconnect

A leading broadband open access platform in Germany.

vitroconnect continued to deliver strong and profitable growth in the 12 months to December 2025, achieving revenue and EBITDA growth of 11% and 22% respectively versus the prior year. This performance was driven by the continued expansion with existing customers as well as the acquisition of new ones, with vitroconnect already serving most of Germany’s largest fibre broadband infrastructure providers and resellers. The company remains focused on further deepening and expanding its established customer relationships, while ongoing customer acquisition efforts continue to target long-tail broadband infrastructure providers and resellers to address remaining white spots in coverage. As the organisation continues to scale, vitroconnect has strengthened its leadership team with the appointment of a seasoned CFO, who took up the role in early January 2026, bringing deep capital markets, M&A and corporate finance expertise to support the company’s next phase of accelerated growth.

Brevo

Brevo is a global customer engagement platform, offering marketing automation, customer relationship management and customer data platform capabilities

For the 12-month period to December 2025, Brevo reported revenue and EBITDA growth of 20% and 57% respectively versus prior year. The strong EBITDA growth was driven by cost control initiatives, including a successful hosting, migration and revision of multiple marketing initiatives, as well as a more conservative hiring plan through efficiency improvement, primarily with regard to Customer Success Management and Go-To-Market functions.

The Self-Service division grew New Purchasing Clients by 23% year-on-year and maintained attractive retention across its client base (78% gross revenue retention). In parallel, the Mid-Market division has begun gaining momentum in enterprise deals across regions, following the launch of its new pricing offer in October 2025.

Horizons Optical

A provider of progressive lens design software solutions for lens manufacturers.

Horizons continued to show strong topline momentum, delivering FY25 revenue growth of 14% versus prior year, driven by growth in both existing clients and new accounts. There has also been positive performance across the manufacturing and retail divisions, up 14% and 10% respectively versus prior year. This performance was achieved despite external headwinds, including the depreciation of the USD and tariff uncertainty, which slowed US business during Q2, demonstrating the business’s ability to sustain growth in a more volatile trading environment. The company continues to progress on go-to-market initiatives (global customer mapping, top of funnel segmentation and sales channels).

Seedtag

A leader in contextual advertising.

Seedtag continued to perform well in 2025, with EBITDA growth of 21% versus prior year despite the global macro uncertainty around tariffs. The US business continues to accelerate the growth of the group as a result of the continued rollout of connected TV as well as several new blue-chip clients. Management is focused on re-accelerating growth in core European regions, as well as continuing to integrate and roll out the Beachfront offering across geographies and clients. The leadership team was reinforced in the period under the new CEO, with several senior hires, including a Chief Experience and Strategy Officer as well as European regional-specific roles.

Alerce

A leading Spanish provider of transport and logistics software solutions.

In the 12 months to December 2025, Alerce delivered reported revenue and EBITDA growth of 15% and 13% respectively. Alerce completed the acquisitions of Proxim, a niche ERP for logistics, customs and tax workflows, giving Alerce access to a new strategic market in logistics; Focus Metrica – the only other telematics player offering certified thermographs in Spain; Gesruta – TMS software provider for small and mid-sized FTL companies; and Localizalia – telematics player complementary to WeMob. The acquisitions are expected to deliver substantial cross-selling opportunities. Additionally, new commercial managers in Spain and Latin America are being hired to support organic growth.

Paraty

Spain’s fastest-growing hotel demand generation platform.

Paraty Tech, acquired in December 2025, is a cloud-based demand generation platform used by independent hotels, hotel chains and mid-market properties across Iberia, with a growing footprint in Latin America and the US. Paraty closed 2025 with revenue and EBITDA growth of 26% and 31% respectively versus prior year. The business experienced strong performance across all regions, and investment in go-to-market organisation is yielding a strong 2026 pipeline, with many landmark deals currently in the pipeline. Significant investment in product and technology led to the beta launch of Paraty’s next-generation booking engine platform in February 2026, integrating multiple AI-led functionalities to support travellers in the booking journey and improve website-visit-to-booking conversion rates.

ECOMMERCE ONE

A leading provider of e-commerce software in the DACH region.

ECOMMERCE ONE delivered resilient FY25 performance, with revenues (excluding the deliberately scaled-down Marmalade agency business) down 4% year-on-year as the group continued to prioritise high-quality recurring revenues. Following the 2024 repricing and associated expected churn, the business achieved a net rebasing of recurring revenues of ~20% and expanded adjusted cash EBITDA margins to ~35% (vs ~20% in 2023). In December 2025, the refinancing of shareholder loans enabled a capital return to Origin I.