Corporate Integration Consultants advises on tech deal
Private equity firm Écart earlier this month acquired a majority interest in the Dutch firm Minox Software. The deal was guided by Corporate Integration Consultants, a Dutch-based consulting firm that specialises in M&A in the IT and tech sector.
Minox is a firm that provides accounting software to companies in the Netherlands, and is one of the five most used packages in the country, in particular in the SME segment. The firm, founded in 1983, is based in Veenendaal.
In line with its ambition to grow its footprint in the technology sector, and the potential it sees in Minox, private equity firm Écart has decided to acquire a majority stake in the software provider, for a reported fee of €2,5 million. For Écart it is the third acquisition in the space of a few months, earlier it acquired a share in Login Consultants en ShipitSmarter. “Our investments in the technology sector are growing in momentum,” acknowledges Rolf Metz, Director of Écart.
With the investment, Minox aims at expanding its market position, supported by investments in its services, software and own team. “Minox can grow much faster with its new majority shareholder Écart and respond to the high demand for administrative cloud software. Both in the field of development and marketing additional people will be recruited,” comments the firm in a press release.
Seller Minox was advised by Corporate Integration Consultants (CIC) during the deal. The M&A expert advised Minox on among others the valuation and deal process, as well playing a role in the negotiation and deal closing phases of the transaction. “We got to know Andy Rooswinkel of CIC not only as an excellent process facilitator, but as a person with extensive knowledge and vision of the (international) accounting software market,” says Ton Janssen, the Managing Director of Minox. As part of the deal, Janssen will step down from his role, to be replaced by a new Managing Director, and will hold a position on the Supervisory Board of the company he served for more than 25 years.
