M&A Deal Summary

EQT, Oakley Capital Private Equity and Apax Acquire idealista

On September 10, 2020, private equity firms EQT, Oakley Capital Private Equity and Apax acquired internet software and services company idealista from Apax for 1.3B EUR

Acquisition Highlights
  • This is EQT’s 7th, Oakley Capital Private Equity’s 13th and Apax’s 21st transaction in the Internet Software and Services sector.
  • This is EQT’s 18th, Oakley Capital Private Equity’s and Apax’s 19th largest (disclosed) transaction.
  • This is EQT’s 8th, Oakley Capital Private Equity’s 3rd and Apax’s 6th transaction in Spain.

M&A Deal Summary
Date 2020-09-10
Target idealista
Sector Internet Software and Services
Buyer(s) EQT
Oakley Capital Private Equity
Apax
Sellers(s) Apax
Deal Type Secondary Buyout
Deal Value 1.3B EUR
Advisor(s) Evercore Group (Financial)

Target

idealista

Madrid, Spain
website
idealista is an online real estate marketplace that supports approximately 40,000 real estate agents and 38 million unique monthly visitors across Southern Europe, by providing an online real estate classifieds marketplace for home buyers and sellers. idealista was formed in 2000 and is based in Madrid, Spain.

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Buyer(S) 3

Buyer

EQT

Stockholm, Sweden

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1994
PE ASSETS 50.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

EQT is a global private equity group that purses a variety of investment strategies around the world. EQT is divided into several investment disciplines, including private capital, real assets, credit, and venture. The Firm's private capital group targets large, market-leading enterprises (investment size of €125 to €1.5 billion) across Europe and the US, as well as mid-market, growth companies (investment size of €40 to €125 million) across the US, Europe, China, and Southeast Asia. The Firm's real assets group seeks to identify control or co-control equity investments (investment size of €500 to €1 billion) in medium-sized infrastructure companies that provide an essential service to society, are recession resilient, and have secure cash flows. EQT's credit group provides flexible, long-term debt capital solutions to medium-sized European businesses, across a wide range of sectors. EQT was established in 1994 and is headquartered in Stockholm, Sweden.

DEAL STATS #
Overall 228 of 287
Sector (Internet Software and Services) 7 of 18
Type (Secondary Buyout) 64 of 89
Country (Spain) 8 of 9
Year (2020) 10 of 19
Size (of disclosed) 18 of 41
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-03 Altus Intervention AS

Stavanger, Norway

Altus Intervention AS is a provider of well intervention services and down-hole technology to the oil and gas industry. Altus Intervention was founded in 2014 and is based in Stavanger, Norway.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-17 Casa

Milan, Italy

Casa is an online real estate portal that enables users to buy and sell residential​ properties. It supports approximately 14,000 real estate agents with over 1 million property listings on its website for prospective homeowners and sellers in Italy. Casa was founded in 1996 and is based in Milan, Italy.

Buy -
Buyer

Oakley Capital Private Equity

London, United Kingdom

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2011
PE ASSETS 1.5B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Oakley Capital Private Equity is a mid-market, generalist private equity firm focused on investing in the UK and Western Europe. Oakley targets a variety of investment situations, including traditional buyouts, take privates, growth capital financings, secondary buyouts, and turnarounds. Oakley prefers controlling situations and looks to commit £5 to £60 million per transaction. Oakley Capital Private Equity is a unit of asset manager of Oakley Capital. The Group is based in London.

DEAL STATS #
Overall 31 of 40
Sector (Internet Software and Services) 13 of 14
Type (Secondary Buyout) 5 of 7
Country (Spain) 3 of 4
Year (2020) 2 of 3
Size (of disclosed) 1 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-04-08 Inspired Education Holdings

London, United Kingdom

Inspired Education Holdings is a provider of education services. Inspired Education was founded in 2013 and is based in London, England.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-17 Casa

Milan, Italy

Casa is an online real estate portal that enables users to buy and sell residential​ properties. It supports approximately 14,000 real estate agents with over 1 million property listings on its website for prospective homeowners and sellers in Italy. Casa was founded in 1996 and is based in Milan, Italy.

Sell -
Buyer

Apax

London, United Kingdom

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1981
PE ASSETS 60.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apax Partners is a mega-sized private equity investment group, operating across the United States, Europe, Israel and Asia. Broad industry sectors of interest include tech & telecom, media, retail & consumer, healthcare, financial services, and business services. Apax will consider both minority and majority investment positions and prefers companies with strong market positions and growth potential. The Firm generally pursues platform acquisitions valued from €1 to €5 billion. Apax Partners was formed in 1981 and is based in London.

DEAL STATS #
Overall 221 of 246
Sector (Internet Software and Services) 21 of 25
Type (Secondary Buyout) 49 of 61
Country (Spain) 6 of 7
Year (2020) 6 of 7
Size (of disclosed) 19 of 53
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-08 MyCase

San Diego, California, United States

MyCase is an all-in-one legal practice management software designed for a modern law firm. The company covers the entire client lifecycle with Lead Management, Case Management, Billing and Invoicing, and Robust Reporting. It includes market-leading features such as integrated MyCase Payments, 2-way text messaging, MyCase Client Portal to centralize client communication, and MyCase Drive. The MyCase family of brands includes the broadest suite of legal practice management software solutions in the industry including MyCase, CASEpeer (Personal Injury), Soluno (Billing & Accounting), DocketWise (Immigration), and Woodpecker (Document Automation). MyCase was founded in 2010 and is based in San Diego, California.

Buy $193M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-17 Max

Holon, Israel

Max is an operator of a general discount retailer of everyday essential items in Israel with 41 stores. Max offers a selection of merchandise, including consumables, home products, decoration items, stationery and school supplies, toys, apparel, and others. Max is based in Holon, Israel.

Sell -

Seller(S) 1

SELLER

Apax

London, United Kingdom

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1981
PE ASSETS 60.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apax Partners is a mega-sized private equity investment group, operating across the United States, Europe, Israel and Asia. Broad industry sectors of interest include tech & telecom, media, retail & consumer, healthcare, financial services, and business services. Apax will consider both minority and majority investment positions and prefers companies with strong market positions and growth potential. The Firm generally pursues platform acquisitions valued from €1 to €5 billion. Apax Partners was formed in 1981 and is based in London.

DEAL STATS #
Overall 140 of 163
Sector (Internet Software and Services) 8 of 12
Type (Secondary Buyout) 49 of 60
Country (Spain) 5 of 5
Year (2020) 4 of 10
Size (of disclosed) 14 of 49
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-08 MyCase

San Diego, California, United States

MyCase is an all-in-one legal practice management software designed for a modern law firm. The company covers the entire client lifecycle with Lead Management, Case Management, Billing and Invoicing, and Robust Reporting. It includes market-leading features such as integrated MyCase Payments, 2-way text messaging, MyCase Client Portal to centralize client communication, and MyCase Drive. The MyCase family of brands includes the broadest suite of legal practice management software solutions in the industry including MyCase, CASEpeer (Personal Injury), Soluno (Billing & Accounting), DocketWise (Immigration), and Woodpecker (Document Automation). MyCase was founded in 2010 and is based in San Diego, California.

Buy $193M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-17 Max

Holon, Israel

Max is an operator of a general discount retailer of everyday essential items in Israel with 41 stores. Max offers a selection of merchandise, including consumables, home products, decoration items, stationery and school supplies, toys, apparel, and others. Max is based in Holon, Israel.

Sell -
Mergr

Product

Company

Legal