Carlyle buys Prima Solutions

The GP drew equity from Carlyle Europe Technology Partners III, which closed on its €656m hard-cap in May 2015.

Prima projects revenues of €20m for 2017 and employs 200 people. The company has grown 80% per year since 2013, according to a press release.

The current management team was the majority shareholder prior to the buyout ; they will remain at the helm of the company and retain a minority stake.

The company aims to take advantage of Carlyle's insurance sector experience to boost international sales.

Previous funding
In 2001, Cairnwood Capital International invested €3.81m for an undisclosed stake in Prima. It later divested this stake via an undisclosed route.

Company
Prima was founded in 2000 by Hugues Delannoy, who is currently president of the company. It is a vendor of software for the management of insurance policies from distribution to underwriting, claims and financial management. Its client base includes Allianz, Axa, Societe Generale Insurance, PSA Insurance, CoverLife, Galian, Groupama, Hiscox, Mutuelle des Motards and Gras Savoye Willis. The company employs 20 people and projects revenues of €20m for 2017.

People
Carlyle Group – Vladimir Lasocki (managing director).
Prima Solutions – Hugues Delannoy (president); Rodolphe Peim (CEO).

Advisers
Equity – DLA Piper (legal); Accuracy (financial due diligence); LEK (commercial due diligence); Intuitis (IT due diligence); William Blair (M&A).
Vendor – Hoche Avocats (legal); EY (financial due diligence); Bryan Garnier (M&A).

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