RGI GROUP
Acquired by
CORSAIR CAPITAL
RGI GROUP acquired by CORSAIR CAPITAL
Target
RGI GROUP
Acquirer
CORSAIR CAPITAL
Context
Corsair Capital has agreed to acquire RGI Group from Ardian Expansion, the company founder and the management team. Under Ardian's ownership (2014-2018), RGI transformed from a domestic Italian player into a European leader through the strategic acquisition of Kapia Solutions in France and organic growth. Corsair Capital intends to leverage its deep network in the global financial services industry to further accelerate RGI's international expansion and product development.
RGI GROUP, which reported an EBITDA margin of LOGIN in 2017, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN discount to the 13.6x average currently observed in the TMT (Tech, Media, Telecom) sector.
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Target
Headquartered in Italy, RGI is a leading provider of core software systems and digital services for the insurance industry in the EMEA region. Its PASS_Insurance suite covers the entire insurance value chain (policy administration, claims, sales, distribution). At the time of the deal, RGI served over 100 insurance companies and brokers across Italy, France, DACH, and Benelux. The company had successfully integrated Kapia Solutions (France) in 2016.
Ent. Value
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Equity Value
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Multiples Analysis
EV / Revenue
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EV / EBITDA
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EV / EBIT
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Historical Financials (EUR)
Other operations with RGI GROUP
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