Private equity firm EQT has acquired a 100 per cent stake in UC4 in a deal which sees Carlyle Europe Technology Partners exit the business.
IT processing software company UC4 has been sold to EQT for an enterprise value of €220 million (£172.6 million).
The transaction sees Carlyle Europe Technology Partners and UC4 founder Franz Beranek sell stakes in the business.
EQT has closed the deal through its VI fund, a €4.75 billion fund launched in 2011 targeting equity commitments of between €75 million and €500 million.
Following the deal UC4 will use EQT VI’s support to accelerate its international sales, strengthen its ONE Automation platform which helps organisations to manage IT systems and build its product offerings.
Per Franzen, partner at EQT Partners in Germany, comments, ‘We consider UC4 a highly attractive growth company and are impressed by its customer base and strong automation offering.’
UC4, which has its headquarters in the US and Austria as well as UK base in Berkshire, will also receive reinvestment from its management team alongside EQT VI.
Carlyle initially acquired UC4 back in March 2006 in partnership with Beranek and the management for an undisclosed amount.
Jason Liu, CEO of UC4, adds, ‘EQT’s industrial focus with a very strong line-up of industrial advisors will be of great value to UC4 and to us as a management team when developing the company over the next years.’