M&A Deal Summary

EQT, TA Associates and HgCapital Acquire IFS

On November 30, 2015, private equity firms EQT, TA Associates and HgCapital acquired software company IFS

Acquisition Highlights
  • This is EQT’s 1st, TA Associates’ 47th and HgCapital’s 18th transaction in the Software sector.
  • This is EQT’s 33rd, TA Associates’ 4th and HgCapital’s 2nd transaction in Sweden.

M&A Deal Summary

Date 2015-11-30
Target IFS
Sector Software
Buyer(s) EQT
TA Associates
HgCapital
Deal Type Going Private

Target

IFS

Linköping, Sweden
IFS develops and delivers cloud enterprise software for companies around the world who manufacture and distribute goods, build and maintain assets, and manage service-focused operations. Within our single platform, our industry specific products are innately connected to a single data model and use embedded digital innovation so that our customers can be their best when it really matters to their customers—at the Moment of Service. IFS was founded in 1983 and is based in Linköping, Sweden.

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Buyer(S) 3

Buyer

EQT

Stockholm, Sweden

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 242.0B 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 136 of 315
Sector (Software) 1 of 14
Type (Going Private) 7 of 23
Country (Sweden) 33 of 55
Year (2015) 8 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-25 Dometic Group

Solna, Sweden

Dometic Group is a provider of value-added products to the recreational vehicle and pleasure boat industries. Dometic Group was founded in 1922 and is based in Solna, Sweden.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-02 Scandic

Stockholm, Sweden

Scandic owns and operates of hotel chain in the Nordic region with approximately 230 hotels in eight countries, the majority in the Nordic region, with the rest in other European locations. Scandic was founded in 1963 and is based in Stockholm, Sweden.

Sell -
Buyer

TA Associates

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1968
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TA Associates is a private equity firm that targets investments in middle-market and large companies around the world. TA will consider control or minority investments in profitable companies and looks to commit between $70 and $500 million per transaction. TA proactively reaches out to companies directly in sourcing potential investment opportunities. Prospective businesses are generally valued between $100 million and $3 billion. Areas of interest include technology, software, communications, financial services, healthcare, business services, semiconductors/electronics, and consumer products/services. In addition to investing equity capital, TA also makes subordinated debt investments. TA's geographic preference is North America, Asia/Pacific, and Europe. TA Associates was formed in 1968 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 234 of 364
Sector (Software) 47 of 86
Type (Going Private) 2 of 4
Country (Sweden) 4 of 6
Year (2015) 13 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-20 CMOSIS NV

Antwerp, Belgium

CMOSIS is a pure-play supplier of standard off-the-shelf and application-specific CMOS image sensors for the industrial and professional market covering applications such as machine vision, high-end DSC markets, scientific, medical, automatic data capture and space.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-08 Dr Lal PathLabs

Gurugram, India

Dr Lal PathLabs is an Indian diagnostic service provider. Dr Lal PathLabs has a proven track record of over six decades for strict adherence to international standards and benchmarks. The company has a presence across India in the form of state-of-the-art laboratories and patient service centers. Its network of diagnostics facilities comprises central laboratories, clinical laboratories, collection centers and customer pick-up points across the country. Dr Lal PathLabs was incorporated in 1949 and is headquartered in Gurugram, India.

Sell -
Buyer

HgCapital

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 70.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HgCapital is a European private equity firm focused on a wide range of transactions including public-to-private leveraged buy-outs, management buy-ins, divestitures, and turnarounds. Broad sectors of interest include consumer and leisure, healthcare, industrials, services, technology, media, and renewable energy. The Firm will consider both majority and minority investment positions. HgCapital is the successor to Mercury Capital Partners, a former unit of Merill Lynch which was spun out by management in 2000. HgCapital has offices in London and Munich.


DEAL STATS #
Overall 80 of 151
Sector (Software) 18 of 47
Type (Going Private) 6 of 8
Country (Sweden) 2 of 2
Year (2015) 6 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-30 EidosMedia

Milan, Italy

EidosMedia is a Content Management System (CMS) solutions company that develops innovative content management solutions to serve clients with high-value content and complex workflow management needs. Its software covers the end-to-end content lifecycle for very large media, financial research, academic, and public research, and corporate organizations. EidosMedia was formed in 1999 and is based in Milan, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-07 TeamSystem

Pesaro, Italy

TeamSystem is a provider of accounting, payroll, and business management software for accountants and small and medium-sized enterprises. TeamSystem offers a broad range of mission-critical, on-premise and cloud solutions to a diversified base of its customers. TeamSystem was founded in 1979 and is based in Pesaro, Italy.

Sell -