Edotech Ltd

14 November 2002

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Edotech Limited, a Barclays Private Equity backed business, has acquired Swiss-based Cominformatic AG for Â£9.1m (EUR 14.3m). Cominformatic was sold by the American company Anacomp Inc. In 2000 Barclays Private Equity funded a management buyout at Edotech. The acquisition finance in this latest transaction was provided via a senior debt package from Barclays Leveraged Finance, which previously provided the funding for Edotechâ€™s original management buyout, for its acquisition of Paperflow Ltd from Severn Trent Plc in 2001 and for the acquisition of the statement printing and mailing division of British Telecom six months ago.

Company

Edotechâ€™s core business comprises the design, production, storage and presentation of documents across a variety of media, including paper, CD-ROM, fiche and internet. The firm serves mainly customers in the financial, utilities and telecommunication industry. PBIT (Profit on Ordinary Activities Before Interest and Taxation) has more than doubled year-on-year since the buyout in 2000 and the company estimates that it will achieve a PBIT of Â£10 million for 2002. Cominformatic provides document and content management services for customers in the Swiss financial sector, a sector Edotech so far has not covered. The company will continue to expand into Europe.

People

Simon Henderson of Barclays Private Equity led the transaction, while Yann Souillard and Eric Vimont structured the debt package for Barclays Leveraged Finance.

Advisors

Equity â€“ Osborne Clark, London, John Hayward (Legal).

Debt â€“ Lovells, London, Bryan Paisley and Stuart Walker (Legal).