Ardian-backed Dedalus buys IT specialist Softech

Ardian bought a 60% stake in Dedalus in July 2016 via its €4.5bn Ardian LBO Fund VI . The transaction saw the company's chair and CEO Giorgio Moretti sell 10.41% of his stake and retain 40%, while previous backers Three Hills and Mandarin sold their 14% and 35.59% holdings, respectively. Subsequently, Dedalus raised a €72m bond from asset management firm Tikehau IM in December 2016.

Dedalus employs 1,900 staff, has 50 offices in Italy, a presence in 25 countries across Europe, the Middle East, the Americas, Africa and Asia, and generates revenues of around €200m.

With the acquisition of Softech, Dedalus expect to expand its presence into new segments of the healthcare and public sectors, and further consolidate its position in the Italian market.

Company
Established in 1997 and headquartered in Castel Maggiore, near Bologna, Softech provides software and IT services to the public healthcare, social, education and housing sectors. 

People
Dedalus – Riccardo Donati (CEO Italy).

Advisers
Acquirer – Giovannelli e Associati (legal); Gitti & Partners (legal); KPMG (corporate finance).
Vendor – Studio Pirola Pennuto Zei & Associati (legal); Azimut Global Counseling (corporate finance).

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