20/08/2024 | Press release | Distributed by Public on 20/08/2024 18:00
Barcelona, Spain, 20 August 2024- Global investment firm Carlyle (NASDAQ: CG) today announced it has agreed to invest in SEIDOR, a leading technology services and solutions consultancy. The terms of the transaction were not disclosed.
Founded in 1982, SEIDOR provides IT solutions and a variety of services including consulting, implementation, and maintenance across Artificial Intelligence, Microsoft Edge, Customer & Employee Experience, Data & Cloud, Cybersecurity, and enterprise resource planning ("ERP") software. In addition to a highly diversified customer base, the company has partnerships with a range of industry players including SAP, Salesforce, Microsoft, IBM, Google, and AWS, and also develops proprietary products. Headquartered in Barcelona, the company has over 9,000 employees.
Carlyle will aim to support SEIDOR's growth by strengthening the management team, investing in product innovation and expansion, further developing its partnership ecosystem, evolving the company's go-to-market strategy, and driving operational efficiencies by removing business silos and pursuing cross-selling opportunities.
Equity for the investment will be provided by Carlyle Europe Technology Partners ("CETP") V, a €3 billion fund which invests in technology companies across Europe. Carlyle will leverage its longstanding track record of internationalising European software companies, including current portfolio companies GBTEC, SER Group, Shopware, CSS, 1E, Phrase and Hack The Box.
Josep Benito, SEIDOR's new Executive Chairman, said: "An investor of Carlyle's stature and scale becoming a shareholder in SEIDOR demonstrates confidence in SEIDOR's strategy. In this transaction, Carlyle brings not only capital to accelerate our growth but its longstanding experience and track record of investing in, growing, and internationalising leading European technology businesses like ours. This is an opportunity for the entire SEIDOR family, including our employees, customers, suppliers, and partners, to unlock a new stage of growth. I believe this deal is an important step for SEIDOR, as an engine of innovation in IT, as we look to become a leading technology company globally."
Fernando Chueca, Partner in the CETP investment advisory team, said: "This transaction is an attractive opportunity to support a Spanish leader in the digital transformation sector. We believe that SEIDOR has a strong competitive position in key markets like Spain, as well as significant growth potential in other major European economies and North America. Through our partnership, we intend to support SEIDOR's development into a global technology champion competing in the world's highest value software markets, delivering value for all its current and future stakeholders."
Mario Pardo, Partner in the Carlyle Europe Partners ("CEP") investment advisory team, said: "We are pleased to have supported our colleagues in CETP with the sourcing and diligence of this transaction, enabled by our over 20 years of heritage in Spain, the deep local presence and expertise of our team in Barcelona, and our broader track record of partnering with founders and entrepreneurs to grow and internationalise leading Spanish companies."
About Carlyle
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $435 billion of assets under management as of June 30, 2024, Carlyle's purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,200 people in 29 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.
About SEIDOR
SEIDOR is a technology consultancy that offers a comprehensive portfolio of solutions and services covering the fields of Artificial Intelligence, Edge, Customer Experience, Employee Experience, ERP, Data, Application Modernization, Cloud, Connectivity and Cybersecurity. With a turnover of 894 million euros in the 2023 financial year and a workforce of more than 9,000 highly qualified professionals, SEIDOR has a direct presence in 45 countries in Europe, Latin America, the United States, the Middle East, Africa and Asia. The consulting firm is a partner of the main technology leaders. Follow SEIDOR on: SEIDOR Blog / www.SEIDOR.com.
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