Apax Partners has agreed to acquire Lutech SpA, an IT system integration and digital services business, from One Equity Partners, a middle market private equity firm.
Gabriele Cipparrone, partner at Apax, said, “The Apax Funds have a strong investment track record in the IT Services space, a market benefiting from secular growth trends. Lutech occupies a leading position in this sector in Italy and we are excited by its prospects. We look forward to working with the Lutech team to accelerate growth through organic development and acquisitions, building on the company’s digital transformation skills, distinctive proprietary solutions and strong industry reputation.”
“We would like to thank OEP for being an outstanding partner that helped transform Lutech into a market leader with innovative technologies and end-to-end digital solutions that allow us to truly shape our customers’ future,” added Tullio Pirovano, CEO of Lutech. “We’re excited about the growth opportunities for our staff under new ownership.”
OEP was advised by Raymond James as exclusive M&A advisor as well as Freshfields Bruckhaus Deringer.