Milestone buys ITX

The GP injected €18m of equity into the company for a majority stake. The sale process was led by JPh Hottinguer Corporate Finance, which was mandated by the company's CEO to find a private equity investor able to back a management buyout of the business.

Milestone plans to support the company's expansion plans, which include growing ITX's customer base from French and Swiss customers to clients across Europe and Asia, and a buy-and-build strategy to create platforms in Asia and South America.

Debt
Credit Suisse provided senior debt facilities for this transaction.

Company
ITX, standing for "International Technology Expatriation", is an intra-group mobility services provider based in Geneva, providing large multinational clients with expatriate management services.

The company was founded in 2000 by a team of HR and finance executives. It currently helps its clients manage 3,700 expatriates from 70 countries spread across 90 host countries.

People
Erick Rinner, Olivier Antomarchi and Claire Gomard worked on the deal for Milestone. Bernard Ledermann and Nicolas Roussin arranged the debt on behalf of Crédit Suisse. Christophe Malavallon has been ITX's CEO since 2011.

The GP introduced Alan Tawil-Kummerman as non-executive chairman and Christophe de Buchet as non-executive director to the company's board following the transaction.

Advisers
Equity - Meyerlustenberger Lachenal, Alexander Vogel, Birgit Urbons, Andrea Sieber (Legal); Travers Smith, David Patient, Will Howard (Legal); Constantin, Jean-Paul Séguret, Denis Cyrille (Financial due diligence); AMR, Florent Jarry, Chloé Bonafous (Commercial due diligence); Cobalt, Sabine Gardener, Valérie Pintiaux (Management due diligence).
Management - Baker & McKenzie, Martin Anderson (Legal). 

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

• Topics
• DACH
• Buyouts
• Support services
• Milestone Capital
• Switzerland
• Travers Smith