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EQT to buy software business UC4 from Carlyle for €220m

13 Aug 2012

Swedish private equity firm EQT has reached a deal to buy UC4, the world’s largest independent seller of IT process automation software, from global buyout giant Carlyle for €220m including debt.

UC4 sells software that helps businesses to migrate to cloud computing and boasts roughly 2,050 customers, including more than 70 of the Global Fortune 500 companies.

The company generated revenues of €62m in the past fiscal year ending in April 2012 and is headquartered in Wolfsgraben, close to Vienna, Austria, and Bellevue, US.

UC4 is understood to generate earnings before interest, tax, depreciation and amortisation of about $25m, valuing the deal at roughly 11-times EBITDA.

Carlyle bought the business in March 2006 through its Europe Technology Partners vehicle.

“We consider UC4 a highly attractive growth company and are impressed by its customer base and strong automation offering,” said EQT partner Per Franzén.

“The new supervisory board, consisting of a mix of highly relevant and experienced EQT Industrial Advisors, looks forward to supporting UC4′s management team in driving further expansion into the rapidly growing cloud automation market.”

The deal is expected to be completed in the fourth quarter of 2012.

EQT financed the buyout through its EQT VI fund, which closed in November last year on its hard cap of €4.75bn.

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