Eurazeo SE (ENXTPA:RF), Sagard NewGen managed by Sagard along with Theodore-Michel Vrangos and Laurent Charvériat and management of I-Tracing SAS acquired I-Tracing SAS from Keensight Capital and others for an enterprise value of approximately 170 million.
May 10, 2021
Share
Eurazeo SE (ENXTPA:RF), Sagard NewGen managed by Sagard along with Theodore-Michel Vrangos and Laurent Charvériat and management of I-Tracing SAS entered into an agreement to acquire I-Tracing SAS from Keensight Capital and others for an enterprise value of approximately 170 million on May 11, 2021. Under the transaction, Eurazeo and Sagard NewGen will take 51% of I-Tracing's capital while the founders,Théodore-Michel Vrangos and Laurent Charvériat, as well as the management reinvest in the operation and keep the balance of 49%. Eurazeo would become an anchor investor of the group by investing around 65 million while Sagard will invest 20 million. Guillaume Chinardet, Grégory Pernot and Melchior Huet of Ardian provided a unitranche debt of approximately 40 million for the transaction. Ardian is providing a senior financing facility to (EPA:RF) to support the latter's planned acquisition of control over domestic cybersecurity services provider I-Tracing. Eurazeo acquired majority stake in I-Tracing as of July 28, 2021.
I-Tracing SAS reported approximately 50 million of revenue in 2020. Philippe de Montreynaud of Rothschild & Co SCA and Charles Guigan of Eurvad Finance acted as financial advisors, Julien Berger and David Toledano of Indefi acted as strategic advisors, Maxence Bloch and Chloé Vu Thien of Goodwin and Olivier Deren, Charlotte Dupont, Thomas Pulcini and Vincent Nacinovic of Paul Hastings France, Paul Lombard and Laurence Raud of Willkie Farr & Gallagher LLP, Jacques Mestoudjian of Franklin Société d'Avocats acted as legal advisors, Frédéric Steiner, Simon Regard, Julien Szaleniec and Arnaud Muller of Alvarez & Marsal France SARL and Antoine Bernabeu and Bertrand Thouvenel of KPMG acted as financial, Ambroise Huret, Christopher Rischard and Théodore Le Gargean of Eleven Strategy acted as strategic, Jérôme Gertlera and Victor Fayad-Walch of Mazars acted as legal due diligence providers for Eurazeo and Safard. Frédéric Reliquet, Myriam Mataali of EY Société d'Avocats acted as legal advisors for I-Tracing SAS. David Salabi, Jonathan Journo, Florian Grison and Yvette Nou of Cambon Partners acted as financial advisors, Grine Lahreche, Edith Boucaya and Audrey Szultz of Hoche Avocats acted as legal advisors, Stéphane Dahan, Manuel Manas, Guillaume Rohmer of Exelmans acted as financial due diligence providers for Keensight Capital. Jean-Christophe David, Geraldine Lezmi of Allen & Overy acted as legal advisor for lenders in the transaction.
Eurazeo SE (ENXTPA:RF), Sagard NewGen managed by Sagard along with Theodore-Michel Vrangos and Laurent Charvériat and management of I-Tracing SAS completed the acquisition of I-Tracing SAS from Keensight Capital and others on May 11, 2021.
Eurazeo SE is a leading European investment group with diversified assets under management of EUR 35 billion, including EUR 24.2 billion on behalf of institutional and individual clients through its private equity, private debt, real estate and infrastructure strategies. The group supports over 600 mid-market companies, leveraging the commitment of its 400 employees, its sector expertise, its privileged access to global markets via 12 offices in Europe, Asia and the United States, and its responsible approach to value creation based on growth. Eurazeo's institutional and family shareholding and its solid financial structure ensure its long-term viability.
Eurazeo SE has offices in Paris, New York, London, Frankfurt, Berlin, Milan, Madrid, Luxembourg, Shanghai, Seoul, Singapore and Saõ Paulo.
Eurazeo SE (ENXTPA: RF), Sagard NewGen managed by Sagard along with Theodore-Michel Vrangos and Laurent Charvériat and management of I-Tracing SAS acquired I-Tracing SAS from Keensight Capital and others for an enterprise value of approximately €170 million.