Gimv sells Mackevision to Accenture

Gimv generated an IRR of more than 40% on its original investment, according to a source close to the situation.

The company was marketed with a €10m EBITDA in a sales process led by GCA Altium, which was appointed following unsolicited strategic approaches about the asset, according to unquote" sister publication Mergermarket.

The divestment generated a return "well above" Gimv's long-term average return, according to the firm. Gimv reported that revenues have almost tripled under its ownership, from €22m in 2014.

The acquisition will add further visualisation capabilities to Accenture Interactive's digital services portfolio.

Previous funding
Gimv acquired a stake of more than 50% of Mackevision for an equity investment of approximately €10m in 2014. At the time, the company employed 300 people and Gimv stated that the team would be expanded. The company now employs 500 people.

Company
Founded in 1994, Mackevision is a computer generated imagery specialist, providing 3D visualisation, animation and visual effects for film, print and interactive media. It covers the whole imagery process from data preparation to design and production. The company notably worked on the HBO series Game of Thrones.

Headquartered in Stuttgart, with additional operations in Hamburg, Munich, London, Detroit, Los Angeles, Seoul and Shanghai, Mackevision employs 500 people. Its clients include automotive companies such as BMW, Porsche and Volkswagen. It generated a turnover of €48.6m in 2016, according to Gimv's website.

People
Gimv – Eric de la Vigne (principal).
Mackevision – Armin Pohl (CEO).

Advisers
Vendor – GCA Altium (M&A); Deloitte (financial due diligence); McDermott Will & Emery (legal).
Acquirer – EY (financial due diligence); Baker & McKenzie (legal).

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• Topics
• Exits
• DACH
• Consumer
• Technology
• Germany
• Gimv
• Trade sale
• GCA Altium
• Deloitte
• McDermott Will & Emery
• EY (Ernst & Young)