French IT services vendor Team Partners Group is set to acquire local rival Datem in a deal valued at 44m euros ($55m).
The takeover will be partly funded by private equity firm Weinberg Capital Partners, which will underwrite a capital increase of 12m euros ($15m) alongside Team Partners president Gerard Guyodo and his holding company, Europ Infos. A similar sum will be raised through a bond issue, with Team Partners also taking on 20m euros ($25m) in banking debt.
According to Team Partners, the combined company will have annual revenue of approximately 135m euros ($169m) and a headcount of about 1,900. In 2005, Team Partners reported sales of 64.3m euros ($80.5m), with 25% of revenue coming from its desktop services operation.
Once the capital increase has ended, Weinberg Capital Partners plans to make a public offer for the shares of Team Partners not already owned by either itself, Gerard Guyodo or Europ Infos.