Network Corporate Finance has acted as exclusive transaction adviser for the takeover of a minority stake in SIV.AG, held the S.E.T. fund of Duke Forest Capital, through a management buyout of S.I.V. Management AG.
Transaction
Dutch investment firm Duke Forest Capital, located in ‘s-Hertogenbosch, disposed of its minority interest in S.I.V. – Service für Informationsverarbeitung Aktiengesellschaft (“SIV.AG”) with headquarter in Roggentin near Rostock, which it held through its fund Strategic European Technologies. The minority stake was sold to S.I.V. Management AG, whose shares are owned by other senior management and board members.
Target Company
SIV.AG, headquartered in Roggentin near Rostock, is a leading provider of holistic software solutions and complementary IT services for over 15 years, with exclusive focus on the international energy and water market. SIV.AG’s fully integrated, internet-enabled and multilingual IT solution “kVASy®” is currently one of the most innovative software standards and makes SIV.AG a national pioneer for the implementation of statutory provisions and regulation requirements of the Federal Network Agency (“2-Mandaten-Modell”).
Key Facts
| Transaction value: | not disclosed |
| Sector: | Enterprise Software und IT-Dienstleistungen |
| Sales: | approx. EUR 23 Mio. (2009FC) |
| Employees: | approx. 240 |
| Date: | November 2009 |
Clients
Original shareholders, Duke Forest Capital and S.I.V. Management AG
The role of Network Corporate Finance
Network Corporate Finance has advised the client and the company on the preparation and implementation of the transaction. After creating an integrated budgeting, Network Corporate Finance coordinated dialogues with financing partners for the acquirer, moderated contract discussions between the parties and negotiated economic key terms of purchase and sale agreement, as well as ensured concluding adherence to the closing requirements.
