One Equity Partners buys Lutech

Financial details surrounding the transaction remain undisclosed. The deal saw the GP acquire the business from Laserline, the majority shareholder, and 16 minority shareholders. Laserline is a holding company managed by Lutech chair Enrico Magni.

Following the transaction, Laserline will fully exit the business and Magni will leave his role as chair, while OEP is expected to nominate a representative.

Three days prior to the current transaction, Laserline bought back a 19% stake in Lutech from Italian investment holding Hat Orizzonte, which initally acquired its stake as part of a €7.5m capital increase in 2014.

In February 2017, OEP held a $1.65bn final close for its sixth vehicle, One Equity Partners VI. The fund is the first vehicle raised following the firm's spinout from JP Morgan in 2015.

Company
Founded in 2001, Lutech produces software dedicated to IT system integration services. It targets clients active in both the private and public sectors across Italy. Headquartered in Milan, the company also has a presence in France and Germany.

According to its website, the business generated a €142m turnover in 2015 and currently employs 1,155 people.

People
One Equity Partners - Jörg Zirener (managing director).
Lutech – Tullio Pirovano (CEO).

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• One Equity Partners