Funds advised by Apax have signed a definitive agreement to acquire a majority stake in Lutech (Lutech), an IT services, software and technology company in Italy, from One Equity Partners, a middle market private equity firm
The financial terms of the transaction, which are subject to applicable regulatory approvals, have not been disclosed.
Founded in 2001, Lutech is a leading Italian IT services and solutions provider, designing and enabling digital transformation and innovative enterprise technologies for private and public-sector clients. Lutech is able to deliver a wide range of solutions including digital strategy definition, proprietary software, system integration and managed services. The company is recognised for its capabilities in the following domains: digital customer engagement, next generation IT infrastructure, cloud, financial services solutions, cybersecurity, IoT, Big Data and eHealth.
The Apax Funds, in partnership with Lutech’s management team, will look to drive the company forward through a combination of organic and inorganic growth, focusing on expanding key value drivers such as the company’s digital services offering while at the same time accelerating Lutech’s M&A strategy.
Source: Private Equity Wire
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