Permira nears Cogital stake acquisition – report

The deal would value the company at roughly £1bn, according to the report. The Hg-owned business could be sold within days, with Permira reportedly inching towards the finishing line ahead of other sponsors.

According to Unquote sister publication Debtwire, second-round bidders included BC Partners, Hellman & Friedman, PAI, Permira, KKR and TA Associates. 

Hg created UK-headquartered Cogital in 2016 through the acquisitions of Visma BPO, a provider of outsourced accounting, payroll and HR services to 20,000 businesses in the Nordic region; Blick Rothenberg, a UK provider of accounting, audit and tax services based in London; and Baldwins, one of the UK's largest firms of independent accountants, according to Debtwire.

Pan-European buyout house Permira closed its Permira VI fund in January 2017 on €7.5bn. It was deployed at approximately 67% as of June this year, according to Unquote Data. The fund commits equity tickets of between €250m-1bn in companies with enterprise values in the €500m-3bn range.

The GP is currently on the road for its seventh fund and is thought to be targeting €10bn.

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• Topics
• Buyouts
• UK / Ireland
• Exits
• Permira
• Secondary buyout
• HgCapital