Key Takeaways
- • Bain Capital Private Equity has signed a definitive agreement to acquire a controlling stake in Engineering Group, Italy's leading IT services provider, from funds advised by Apax Partners and Neuberger Berman, with Neuberger Berman reinvesting through its new fund NBRP III in an equal partnership structure.
- • Engineering Group operates across 11,000+ professionals in 65 locations across 11 countries, specializing in digital transformation services for financial services, government, healthcare, industrial, energy, and telecommunications sectors.
- • The company maintains significant R&D capabilities with 420 researchers and data scientists coordinating national and international research projects, positioning it as a leader in next-generation technology implementation and hybrid multicloud infrastructure.
- • Bain Capital's investment reflects confidence in Engineering's digital transformation market exposure and established client relationships, with the company founded in 1980 and headquartered in Rome.
Summary
Bain Capital Private Equity announced on February 5, 2020, that it has signed a definitive agreement to acquire a controlling stake in Engineering Group, Italy's leading IT services business. The transaction represents a consortium acquisition in which Bain Capital partners with Neuberger Berman, which is reinvesting through its new fund NBRP III (NB Renaissance Partners III). The sellers are funds previously advised by Apax Partners and Neuberger Berman.
Engineering Group, founded in 1980 and headquartered in Rome, serves as a primary player in digital transformation services for both public and private sector organizations. The company operates an extensive geographic footprint with more than 11,000 professionals distributed across 65 locations spanning Italy, Belgium, Germany, Norway, Serbia, Spain, Sweden, Switzerland, Argentina, Brazil, and the United States. The company's service offerings span multiple high-impact digitalization sectors: Digital Finance, Smart Government & E-Health, Augmented City, Digital Industry, Smart Energy & Utilities, and Digital Telco & Multimedia.
The company's competitive positioning rests on integrated capabilities across next-generation technologies, hybrid multicloud infrastructure, and business model innovation implementation. Engineering maintains substantial R&D investments and operates a research organization comprising 420 researchers and data scientists who coordinate both national and international research projects in partnership with academic institutions throughout Europe.
According to Luca Bassi, Managing Director at Bain Capital Private Equity, "The Engineering Group is a key player in digitalisation with strong client relationships and a reputation for customer service, reliability and innovation." The transaction reflects Bain Capital's strategic focus on technology-enabled services businesses as channels to capitalize on multi-decade digital transformation trends across enterprise and government sectors globally.
Engineering Group, founded in 1980 and headquartered in Rome, serves as a primary player in digital transformation services for both public and private sector organizations. The company operates an extensive geographic footprint with more than 11,000 professionals distributed across 65 locations spanning Italy, Belgium, Germany, Norway, Serbia, Spain, Sweden, Switzerland, Argentina, Brazil, and the United States. The company's service offerings span multiple high-impact digitalization sectors: Digital Finance, Smart Government & E-Health, Augmented City, Digital Industry, Smart Energy & Utilities, and Digital Telco & Multimedia.
The company's competitive positioning rests on integrated capabilities across next-generation technologies, hybrid multicloud infrastructure, and business model innovation implementation. Engineering maintains substantial R&D investments and operates a research organization comprising 420 researchers and data scientists who coordinate both national and international research projects in partnership with academic institutions throughout Europe.
According to Luca Bassi, Managing Director at Bain Capital Private Equity, "The Engineering Group is a key player in digitalisation with strong client relationships and a reputation for customer service, reliability and innovation." The transaction reflects Bain Capital's strategic focus on technology-enabled services businesses as channels to capitalize on multi-decade digital transformation trends across enterprise and government sectors globally.
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