About the deal

I’Car Systems – Datafirst group is the leading French provider for automotive retail software solutions and dealer management systems – (DMS, CRM, Business Intelligence & web solutions). The group addresses major distribution groups, dealerships and OEMs in Europe.

With Argos Wityu’s support, I’Car Systems and Datafirst merged in April 2018, with the ambition to become a leader in the fragmented European market.

Argos Wityu is an independent private equity group with offices in Brussels, Frankfurt, Geneva, Luxembourg, Milan and Paris. Since its creation in 1989, the group has invested in more than 75 mid-sized companies (Enterprise Value ranging from €25M to €200M). With €1bn under management, the group focuses on business transformation and growth, rather than on financial leverage.

Providence Strategic Growth is an affiliate of Providence Equity Partners, focusing on growth equity investments in lower middle market software and technology-enabled service companies. With over $40bn in aggregate capital commitments, Providence Equity pioneered a sector-focused approach to private equity investing, concentrating on the media, communications, information and education industries.

What we did

Capitalmind Investec supported Argos Wityu and the management during the entire process, including: tactical advice, pre-sounding of potential strategic acquirers and PEs, drafting of marketing documentation, assistance in negotiating the deal and coordination of all parties  (VDD, lawyers, auditors), organization of a competitive process with relevant buyers, execution support during the Due Diligence phase, valuation guidance.