M&A Deal Summary

Eurazeo PME and Sagard NewGen Acquire I-Tracing

On May 11, 2021, private equity firms Eurazeo PME and Sagard NewGen acquired information technology company I-Tracing from Keensight Capital for 165M EUR

Acquisition Highlights
  • This is Eurazeo PME’s 7th and Sagard NewGen’s 1st transaction in the Information Technology sector.
  • This is Eurazeo PME’s 10th and Sagard NewGen’s 0th largest (disclosed) transaction.
  • This is Eurazeo PME’s 46th and Sagard NewGen’s 3rd transaction in France.

M&A Deal Summary
Date 2021-05-11
Target I-Tracing
Sector Information Technology
Buyer(s) Eurazeo PME
Sagard NewGen
Sellers(s) Keensight Capital
Deal Type Secondary Buyout
Deal Value 165M EUR

Target

I-Tracing

Courbevoie, France
I-Tracing is an independent pure-play provider of cybersecurity services, covering all requirements in this field: cyberdefence (CyberSOC, ICERT, Vulnerability Management Center, offensive audit, 24/7 “follow-the-sun” CyberSOC etc.), consultancy and solution engineering/integration, support and managed services. I-Tracing was founded in 2005 and is based in Courbevoie, France.

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Buyer(S) 2

Buyer

Eurazeo PME

Paris, France

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1997
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Eurazeo PME, formerly known as OFI Private Equity Capital. Eurazeo PME invests equity and mezzanine capital in secondary buyout transactions of unlisted French companies. The Firm looks for opportunities valued between €50 and €250 million. Areas of interest include chemicals, financial services, consumer services, retail, manufacturing, distribution, and life science. Eurazeo PME was formed in 1997 and is based in Paris.

DEAL STATS #
Overall 65 of 82
Sector (Information Technology) 7 of 7
Type (Secondary Buyout) 25 of 31
Country (France) 46 of 55
Year (2021) 5 of 10
Size (of disclosed) 10 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-23 Aroma-Zone

Cabrieres d Avignon, France

Aroma-Zone is an online retailer that sells its DIY products mainly online but also through a network of seven stores across France. The company is continuously innovating, inspired by constant interaction with its loyal community of customers. Aroma-Zone was formed in 1999 and is based in Cabrieres d Avignon, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-12 Trader Interactive

Virginia Beach, Virginia, United States

Trader Interactive is a provider of online marketplaces and digital marketing products serving the lifestyle vehicles and commercial equipment segments. Trader Interactive is based in Virginia Beach, Virginia.

Sell -
Buyer

Sagard NewGen

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2020
Size Small
Type Sector Focused
DESCRIPTION

Sagard NewGen is an investment firm focused on European technology and healthcare companies. Sagard NewGen looks to partner with management teams in growth-oriented companies with proven business models. The Firm seeks to commit €10 to €50 million in profitable companies with revenue between €10 and €150 million. Sagard NewGen is a subset of Sagard, an alternative asset management firm. Sagard NewGen was founded in 2020 and is based in Paris, France.

DEAL STATS #
Overall 3 of 7
Sector (Information Technology) 1 of 3
Type (Secondary Buyout) 1 of 2
Country (France) 3 of 6
Year (2021) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-21 Asobo Studio

Bordeaux, France

Asobo Studio is an operator of a PC and console video games development studio. Asobo Studio has developed 24 video games so far for both consoles and PC. Asobo Studio has partnered with some of the most prestigious worldwide publishers such as Disney•Pixar, Codemasters, Ubisoft, Microsoft, Focus Home Interactive. Asobo Studio was founded in 2002 and is based in Bordeaux, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-21 Groupe Destaing

Grasse, France

Groupe Destaing is an animal health laboratory distributing its products under two recognized brands, Laboratoire Destaing and MP Labo, respectively specialized in (i) diagnostic products & treatment of veterinary allergies and (ii) hygiene products & natural food supplements for pets. Groupe Destaing was founded in 2001 and is based in Grasse, France.

Buy -

Seller(S) 1

SELLER

Keensight Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 5.5B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Keensight Capital is a private equity investment firm focused on majority and minority growth capital investments in Western European companies. Keensight makes equity investments in a number of situations including the provision of capital to finance growth, either organically or through acquisitions, or the buying out of existing shareholders. The Firm looks to invest €10 to €600 million and will consider business with up to €400 million in revenue. Keensight Capital was formed in 2000 and is based in Paris.

DEAL STATS #
Overall 16 of 24
Sector (Information Technology) 2 of 2
Type (Secondary Buyout) 5 of 7
Country (France) 12 of 15
Year (2021) 3 of 5
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-11 Linkbynet

Saint-Denis, France

Linkbynet is a provider of cloud computing and security. Linkbynet was founded in 2000 and is based in Saint-Denis, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-25 Symeres

Nijmegen, Netherlands

Symeres is a mid-sized European Contract Research Organization for drug discovery and development needs. The company offers best-in-class solutions for drug discovery and drug development for small molecules and beyond. Their services span from preclinical hit finding all the way to the delivery of early clinical phase drug substance API. Symeres blends a deep scientific knowledge base with creativity and problem-solving skills to deliver the quality results that clients need. Symeres is based in Nijmegen, Netherlands.

Buy -
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