- Sofico’s founders and Apheon will reinvest in the business
- The transaction is expected to close during the first quarter of 2024
- Astorg is a European private equity firm
Astorg has signed an agreement to acquire a 51 percent stake in Sofico in partnership with Sofico’s founders Gémar Hompes and Piet Maes and Apheon.
Sofico is a European software products and service provider to the automotive leasing and mobility industry. It is based in Ghent, Belgium and employs over 500 people. The company is expected to generate over €80 million in revenues in 2023.
Sofico’s founders and Apheon will reinvest in the business.
Astorg will support the acceleration of Sofico’s development, organically and through M&A, according to a release.
The investment aims to turbocharge product development, enhance service offerings across regions, amplify business outreach and tap into new customer segments and markets, the release added.
Apheon invested in Sofico in 2020.
The transaction is subject to regulatory approvals and is expected to close during the first quarter of 2024.
Astorg is a European private equity firm with over €21 billion of assets under management. It has offices in London, Paris, New York, Frankfurt, Milan, and Luxembourg.
Apheon is a pan-European mid-market private equity investment firm managing around €2.7 billion of assets. The firm has offices in Amsterdam, Brussels, Luxembourg, Madrid, Milan, Munich and Paris.
No financial terms of the transaction were disclosed.
Astorg was advised by Kumulus Partners (lead M&A), CVA (commercial due diligence), EY (finance and tax due diligence), Baker McKenzie (corporate legal), Crosslake (tech diligence), ERM (ESG diligence) and Marsh (insurance diligence). Sofico and Apheon were advised by 8Advisory (finance) and A&O (legal).
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