Kirey Group
Deal Type
Debt restructuring
Sector
Business Services
Completion Date
22nd February 2016
Deal Value
Not disclosed
Company Background
Kirey, based in Milan, is an information technology company that offers systems integration and consultancy services. The Company offers a broad range of services and products, delivering and implementing innovative software solutions across a number of technology platforms.
Deal Summary
Synergo acquired a majority stake in Kirey, with the minority stake held by the seller throughout a complete rollover of the purchase consideration; Kirey was then capitalized with both equity and senior bank debt (arranged by Ethica) in order to proceed to the acquisition of three further companies: Insirio (System information, software development for the Oil&Gas and Public Administration secotrs), IKS (IT solutions in the field of computer security, governance and compliance) and System Evolution (information management, integration and ERP for the insurance and banking sectors).
This way, Synergo built-up an ICT platform recording overall revenues of around €56m with an EBITDA Margin in the range of 16-17%.
Value Added
Ethica actively supported Kirey all along the process: business plan modelling, debt structure analysis, identification and selection of the senior bank debt lender, information memorandum review, negotiation of the key documentation terms and pricing and coordination of all the professionals involved.
Ethica played a key role in running a competitive process involving 4 different banks, obtaining the best conditions for senior debt, anticipating key issues and defining the appropriate financing strategy.
Kirey Group deal contacts
Key members of the Ethica Group deal team crucial in the Kirey Group transaction
