APAX PARTNERS takes majority stake in LUTECH
Context
Apax Funds has entered into an agreement to acquire a majority stake in Lutech from One Equity Partners. Lutech is a leading Italian IT services and technology company focused on enabling digital transformation for both public and private sector clients. Founded in 2001, the group provides an integrated portfolio of services including digital strategy, proprietary software development, system integration and managed services. Lutech supports customers in modernizing their IT infrastructure and deploying advanced digital solutions across complex enterprise environments. The company operates across a broad range of technology domains, including cloud computing, cybersecurity, big data, IoT, financial services solutions, e-health and digital customer engagement. This diversified offering allows Lutech to address complex, large-scale digital transformation requirements. Lutech has pursued a strong acquisition-led growth strategy, completing multiple add-on acquisitions to strengthen capabilities and expand its geographic and sector footprint. The group serves thousands of clients across several European markets through its specialized business units. Following the transaction, Apax aims to accelerate both organic and inorganic growth, further expanding Lutech’s digital services offering and strengthening its technological capabilities across core markets.
LUTECH, which reported an EBITDA margin of in 2020, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the TMT (Tech, Media, Telecom) sector (14.6x).
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Target
Lutech is a leading Italian IT services and digital transformation group founded in 2001. The company designs and delivers end-to-end technology solutions enabling enterprises and public-sector clients to accelerate their digital evolution. Its offering spans digital strategy, proprietary software, system integration, cloud services, cybersecurity, data analytics, IoT, financial services solutions and e-health applications. Over the years, Lutech has built a strong position as a full-service ICT provider combining consulting, software development and managed services. The group operates through multiple divisions, including LutechTechnology, LutechDigital and LutechProducts, allowing it to address a wide range of enterprise needs across the digital value chain. Lutech has pursued an active buy-and-build strategy, completing numerous acquisitions to expand its technological capabilities and sector expertise. This strategy has strengthened its position as a key partner for large-scale digital transformation programs.
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REFERENCES
Valuation range: EV 300M - 700M EUR
Revenue range: 250M - 500M EUR
EBITDA range: 50M - 100M EUR
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Press release: view release
Target: lutech
Acquirer: apax partners