M&A Deal Summary

Chequers Capital Acquires Cheops

On July 25, 2023, private equity firm Chequers Capital acquired information technology company Cheops from Indufin

Acquisition Highlights
  • This is Chequers Capital’s 5th transaction in the Information Technology sector.
  • This is Chequers Capital’s 3rd transaction in Belgium.

M&A Deal Summary

Date 2023-07-25
Target Cheops
Sector Information Technology
Buyer(s) Chequers Capital
Sellers(s) Indufin
Deal Type Secondary Buyout

Target

Cheops

Antwerp, Belgium
Cheops in an industry specialist offering IT & business technology solutions to Belgian enterprises. The company helps its customers build, optimize and manage their IT so they can focus on their core business. Cheops was founded in 1989 and is based in Antwerp, Belgium

Search 201,429 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

Chequers Capital

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1972
PE ASSETS 2.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Chequers Capital is a private equity group focused on acquiring and developing small, medium and large-sized companies in partnership with management. Chequers primarily seeks opportunities in France, Germany, Italy, Benelux, Switzerland and Spain. The Firm looks to commit €40 to €150 million per investment in transactions valued between €80 and €500 million. Sectors of interest broadly include all areas of industrial, distribution, and services. Target transaction situations include turnarounds, recapitalizations, buyouts, and divestitures. Chequers Capital was formed in 1972 and is based in Paris.


DEAL STATS #
Overall 36 of 38
Sector (Information Technology) 5 of 6
Type (Secondary Buyout) 18 of 19
Country (Belgium) 3 of 3
Year (2023) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-30 ADENES

Paris, France

ADENES is a French player in loss adjustment services for insurers. The Group is positioned as a multi specialist, covering all segments of insurance expertise: Property, Automotive, Construction and B2B. ADENES is present in Italy, Benelux, Australia and Singapore, and benefits from a worldwide coverage through the VRS Adjusters network. ADENES was founded in 2009 and is based in Paris, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-02 Altea Federation

Baveno, Italy

Altea Federation is a Italian system integrator and managed services provider with partnerships with leading software and ERP vendors. The group mainly addresses medium private companies in Northern Italy. Activities are highly diversified, ranging from consulting to ERP/CRM systems integration, data management, cloud solutions, design of custom software solutions, digital transformation, AI, and maintenance services. Altea Federation was founded in 1993 and is based in Baveno, Italy.

Buy -

Seller(S) 1

SELLER

Indufin

Heverlee, Belgium

Investor Investor


Category Private Equity Firm
Founded 2001
Size Small
Type Sector Agnostic
DESCRIPTION

Indufin SA is a private equity firm focused on middle market companies throughout Belgium and Luxembourg. The Firm targets profitable, growing companies with proven track records. Indufin looks to invest €5 to €15 million in businesses with stable cash flows and strong opportunities for growth with and EBITDA of minimum €2 million. The Firm will consider both majority and significant minority positions. Prospective transaction situation include MBOs, MBIs, and growth capital financings. Indufin was formed in 2001 and is based in Heverlee, Belgium.


DEAL STATS #
Overall 9 of 9
Sector (Information Technology) 1 of 1
Type (Secondary Buyout) 5 of 5
Country (Belgium) 7 of 7
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-01 Varo

Lier, Belgium

Varo is an international do-it-yourself (DIY) hand tools and power tools company as it designs, markets and distributes powered and non-powered DIY tools under its own brands: Powerplus, Kreator and Premion, as well as private label products. Varo was founded in 1958 and is based in Lier, Belgium.

Buy -