11th Jun 2024 10:46
Oakley Capital Investments Ltd - Bermuda-based private equity firm specialising in the technology, consumer, education and business services sectors - Says Oakley Capital Fund V has been granted exclusivity with a view to buying a co-controlling stake in I-Tracing, a cybersecurity service provider based in Courbevoie, France. Expects its indirect contribution via Fund V to total up to approximately GBP39 million. The other co-controlling stake in I-Tracing is held by Paris-based investment firm Eurazeo. Sagard NewGen will also reinvest with a minority stake. Company says I-Tracing "has more than doubled in size over the last three years, driven by organic revenue growth of [approximately] 30% per annum supplemented by acquisitions".
Oakley Capital Founder & Managing Partner Peter Dubens says: "I-Tracing is a business we have followed for many years. We are pleased to now have this opportunity to partner with [I-Tracing Co-Founder & President] Theodore and his fellow co-founders on the next phase in the company's history. The attractive drivers of growth in this market are structural and long term and we believe I-Tracing will continue to prosper as the partner of choice for blue chip companies across Europe, leveraging its strong reputation and unrivalled technical capability."
Current stock price: 490.15 pence
12-month change: up 6.8%
By Emma Curzon, Alliance News reporter
Comments and questions to [email protected]
Copyright 2024 Alliance News Ltd. All Rights Reserved.