The deal for Dedalus, Italy’s largest healthcare IT business, will see Hutton take a minority equity interest and provide a subordinated loan.
Hutton’s co-investors have also agreed to invest €15m in the business, which has revenues of about €70m and EBITDA of €17m.
Mandarin Capital previously invested about €2.5m in the business in December 2010.
Mauro Moretti, a partner at Hutton Collins, said, “Hutton Collins bases its investment strategies on sharing growth processes with businessmen and managers who have been able to demonstrate distinctive abilities in their particular sector.
“This is why we are enthusiastic about the opportunity to work alongside Giorgio Moretti and Mandarin Capital in the Dedalus development project in an anti-cyclical sector such as healthcare software, which still offers ample scope for progress.”
Mandarin Capital founding partner Enrico Ricotta said, “We are more than happy to welcome Hutton Collins into our shareholding structure because it will allow us to be as successful in other countries as we have been for the last two years on the Chinese market.”
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