DEDALUS acquired by ARDIAN

HgCapital is leading a buying investor group to orchestrate a major equity restructuring of Nordic and Benelux software provider Visma. The transaction facilitates the full exit of KKR after a seven-year investment cycle and allows HgCapital to increase its ownership stake to 41%. The reconstituted shareholder structure introduces GIC (Singapore’s sovereign wealth fund), Montagu, and ICG as significant minority investors, while Cinven divests a portion of its holdings to retain a 17% stake. Visma’s management team will also roll over equity to maintain a 7% interest. Subject to regulatory approvals, this buyout builds upon HgCapital's long-term stewardship of the asset, which began with a public-to-private delisting in 2006 and was subsequently adjusted in 2014. This new LBO will leverage this expanded global institutional network to accelerate pan-European market expansion and drive Visma's ultimate transformation into a pure cloud computing (SaaS) business.

EcoVadis has secured €30 million in its first institutional funding round led by Partech Ventures. This minority investment represents the first outside capital raised by the company since its founding in 2007, following ten years of 50% annual organic growth. The fresh capital is earmarked for accelerating the worldwide adoption of its CSR ratings, enhancing the reliability of its scorecards, and furthering investment in core technologies. Specifically, the group plans to utilize the funding for in-house R&D to integrate machine learning and natural language processing (NLP) into its proprietary platform. This pivotal investment enables EcoVadis to broaden its expertise and scale its transatlantic operations to support the transformation of the millions of businesses operating in global supply chains.

Infopro Digital acquired 100% of the Belgian-based EBP Group to establish itself as the European leader in public tender monitoring and business intelligence. This acquisition significantly scales Infopro's existing "Vecteur Plus" division and strengthens its media and event footprint within the construction vertical. EBP serves as a strategic "growth platform" for Infopro Digital in the Benelux region (Belgium, Netherlands, Luxembourg), providing a base to deploy the group's wider software and data offerings internationally. Bruno de Mulder remains as the head of EBP activities, which have been integrated into Infopro's Software division.

Astorg Partners has acquired Parkeon from the British investment firm ICG, which had held the majority stake since a 2012 debt-to-equity swap. The strategic rationale for the deal is based on the sustainable growth engine of urbanization and the company's successful pivot toward a high-margin digital service model. As part of the new capital structure, a group of fifteen senior managers, led by CEO Bertrand Barthélémy, has reinvested in the company, holding a 13% stake alongside Astorg’s 87% majority. This acquisition marks a fresh start for Parkeon following a history of heavy debt levels from previous LBOs. The new ten-year fund cycle provided by Astorg allows for a long-term strategy focused on international expansion and continued investment in digital innovation, particularly in mobile payments and Big Data for smart cities. The deal highlights the transition of the company from a hardware manufacturer to a comprehensive mobility service provider, positioning it to capture the increasing demand for intelligent urban infrastructure globally.

Private equity firm Hellman & Friedman (H&F) has entered into an agreement to acquire a controlling equity interest in Italian software provider TeamSystem from an exiting investor group comprising HgCapital, Bain Capital, and ICG. Under the newly restructured corporate framework, the incumbent management team will continue to invest in the business, while historical sponsor HgCapital will roll over a portion of its proceeds to retain a minority stake. The transaction, which facilitates Bain Capital's full exit following an eleven-year investment lifecycle, was executed with Mediobanca advising H&F and Rothschild acting as financial advisor to HgCapital. For Hellman & Friedman, the buyout leverages its deep sector expertise to back CEO Federico Leproux and his management team in driving the next phase of corporate growth. The joint commercial roadmap focuses on reinforcing TeamSystem's leadership position within the Italian market by accelerating the rollout of its cloud-enabled software suite to a highly diversified base of over 200,000 professional and SME clients. For HgCapital, rolling over a minority position provides partial liquidity on a successful investment while maintaining strategic exposure to the platform's robust future growth opportunities.

Raise Investissement and Capza (Capzanine) acquired a combined 45% stake in Questel in a secondary LBO transaction, facilitating the exit of Syntegra Capital, which had been the majority shareholder since 2008. The strategic rationale for the acquisition was to provide the financial resources and expertise needed to execute an aggressive buy-and-build strategy in the fragmented intellectual property services market. By backing CEO Charles Besson, the investors aimed to support Questel’s transition toward an integrated software and services platform and to strengthen its presence in key international markets, particularly North America. This transaction set the foundation for Questel's rapid expansion, enabling multiple strategic acquisitions—such as the purchase of ITIP—which eventually led to a significant increase in the company's valuation and operational scale.

Astorg Partners has entered into a definitive agreement to acquire a majority stake in Metrologic Group from Carlyle Europe Technology Partners, marking a successful secondary buyout transaction. The founder and existing management team are significant participants in this transaction, reinvesting alongside Astorg to ensure continuity of leadership and strategic direction. The rationale behind this investment centers on accelerating the next phase of growth, specifically targeting a leadership position in the emerging field of inline, robot-driven 3D measurements. By transitioning ownership to a sponsor with a proven track record in B2B software and specialized industrial niches, the company aims to strengthen its global market position. The strategy involves continuing the company’s history of systematic innovation and leveraging deep technical expertise to meet the evolving demands of customers in the automotive, aerospace, and energy sectors. This move reinforces the target's status as a top-tier global player, ensuring it has the capital and operational support to scale its specialized product portfolio worldwide.

Bridgepoint has acquired a majority stake in eFront from Francisco Partners, a technology-focused private equity firm, in a secondary buy-out valued at €300 million. Bridgepoint emerged as the winner in a competitive auction process managed by Barclays Capital, outbidding several major private equity firms including Permira, Astorg, TPG Capital, and Silver Lake. This transaction follows eFront's successful private-to-public-to-private journey, having listed on Alternext Paris in 2006 before being taken private by Francisco Partners in 2011. The acquisition is supported by a significant debt package totaling approximately €110 million, provided by a syndicate including Babson Capital, ING, HSBC, and Bank of Ireland. The strategic rationale focuses on scaling eFront's vertically integrated software platform to meet the growing demand for transparency and sophisticated reporting in the global private equity and real estate sectors.

The IK Partners has reached an agreement to sell EPiServer to Accel-KKR (AKKR). This transaction represents an exit for the private equity sponsor following a multi-year investment period characterized by significant internationalization and product portfolio expansion. Under the stewardship of the previous owner, the company broadened its service offerings and strengthened its global footprint through both organic development and the acquisition of e-commerce and search capabilities. The transition to AKKR is intended to support the company’s next phase of growth, with a specific focus on leveraging AKKR’s resources to better serve customers, particularly within the North American region. This change in ownership allows the management team to continue its strategy of market leadership while maintaining business continuity and pursuing new commercial opportunities in the digital marketing and e-commerce sectors.

TeamSystem, a leading Italian management software provider backed by private equity sponsor HgCapital, has executed an agreement to acquire 24OreSoftware, the dedicated software division of publishing conglomerate Gruppo Sole 24 Ore. This corporate carve-out closely follows TeamSystem’s recent acquisition of IBM Italia's ACG division. The transaction was structured and overseen by TeamSystem's management committee, supported by a consortium of advisors including Vitale & Associati acting as global advisor, Gattai, Minoli & Partners providing legal counsel, New Deal Advisors handling financial advisory, and Pirola Pennuto Zei & Associati acting as tax advisors. For the acquirer, led by CEO Federico Leproux, the transaction is a core component of a broader M&A roadmap designed to consolidate the highly fragmented Italian business software market. By integrating 24OreSoftware, TeamSystem unlocks significant operational economies of scale while strategically broadening its existing product suite with specialized vertical modules tailored for construction technicians and tax assistance centers. The acquisition effectively deepens the group's software portfolio and cements its dominant market position as a premier technology provider for domestic corporate clients and professional firms.