By Andrei Skvarsky.
Funds managed by London-based debt investor Permira Debt Managers (PDM) are acting as senior secured lender in the purchase of EG, a leading Scandinavian software company, by global private equity company Francisco Partners from Danish private equity firm Axcel.
EG’s buyout value has been set at 3.7bn Danish kroner ($556m). The deal includes a facility to support future acquisitions, PDM said in a statement.
EG, which is based in Denmark, supplies industry-specific software to private and public sectors and employs more than 1,000 people working at 15 locations in Scandinavia and Poland.
Francisco Partners invests in technology firms and technology-enabled services businesses. Its headquarters are located in San Francisco, California.
Axcel owns 12 companies with a combined annual revenue of more than 1.1bn euros ($1.2bn) and more than 4,000 employees. It is headquartered in Copenhagen.
PDM invests in mid-sized European businesses.
Since its inception in 2007 its funds, whose investors include pension funds, insurers, endowments and family offices in the United States, Asia, the Middle East and Europe, have put about 8bn euros (about $9bn) into more 150 companies in 12 European countries.
Besides its headquarters in London, PDM has offices in Luxembourg, Guernsey and the United States.
PDM is a subsidiary of Permira, an investment company with offices in various European countries, the United States, China, South Korea and Japan and five teams specialising in consumer sectors, financial services, healthcare, industrials and technology.
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