IK acquires Infradata in SBO

The London-based GP invested via its €1.85bn vehicle IK VIII Fund, which closed in 2016 and typically targets deals with enterprise values in the €100-500m range.

Unquote sister publication Debtwire reported last month that the auction process would see Bridgepoint, Gilde Buy Out Partners and IK Investment Partners submit confirmatory offers.

The business generates EBITDA of around €20m, Unquote understands.  

As part of the transaction, Infradata's founder and CEO, Leon de Keijzer, will transition to the board of directors. Nino Tomovski, currently international vice-president, will be appointed CEO of Infradata as of 1 January 2019.

Debt
Debtwire reported last month that banks were looking to back sponsors with all-senior financing at around 5x leverage, while debt funds were offering unitranche packages in the 6x region.

Previous funding
Dutch PE house Waterland acquired the business in 2015 via its €1.1bn Waterland Private Equity Fund V, closed in 2011. The vehicle had an investment strategy similar to its predecessors, acquiring controlling stakes in mid-sized companies with revenues between €10-150m.

Unquote previously reported that the buyout saw the GP buying a 54.4% stake, while management retained a 5.6% stake and the company founder held a 32.5% holding. The remaining 7.5% went to another private investor that had previously backed the group.

In 2016, Infradata wholly acquired France-based Nomios, then owned by Omnes Capital and Odyssee Ventures. The sale generated 5x money for Omnes and Odyssee.

Company
Founded in 2004 and based in Leiden, Infradata provides cybersecurity and secure networking services, from design and delivery to aftermarket support and managed services. It serves blue-chip clients with security and data requirements across the industrial, advanced manufacturing, financial, telecommunications and e-commerce sectors.

The business employs around 250 people at offices in the Netherlands, Germany, UK, France, Belgium, Poland and the US.  

People
Infradata – Leon de Keijzer (founder); Nino Tomovski (international vice-president).
Waterland Private Equity – Wouter Roduner (partner).
IK Investment Partners – Norman Bremer (partner).  

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• Exits
• Benelux
• Technology
• Netherlands
• Waterland Private Equity
• IK Investment Partners
• Secondary buyout