Carlyle acquires Livingstone Technologies

Financial details of the transaction remain undisclosed, though Unquote has learned that the deal values the business in the region of £50m.

The GP drew equity for the transaction from the €656m fund Carlyle Europe Technology Partners III (CETP III). Carlyle's CETP vehicles have historically made investments of €20-60m in companies with enterprise values of €25-150m.

The company's management team will retain its existing stake as part of the deal.

According to a statement, Livingstone will look to capitalise on Carlyle's global footprint in order to increase its sales.

A spokesperson for Carlyle declined to comment on the deal, beyond the firm's official statement.

Company
Reading-headquartered Livingstone is an enterprise software asset management and consultancy business. The business was founded in 2010 and its clients include BT, Nissan and UBS.

People
The Carlyle Group – Fernando Chueca (managing director)
Livingstone Technologies – Tim Green (CEO).

Advisers
Company – GCA Altium, Stephen Georgiadis (corporate finance).

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• Buyouts
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• Carlyle Group
• GCA Altium