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Travers Smith advises TA Associates on its investment in IFS alongside EQT

Overview

Travers Smith LLP has advised long-standing client TA Associates on its acquisition of a significant minority interest in IFS, an Illinois-based global enterprise software provider, alongside EQT Funds VIII and IX on a transaction which exceeds EUR 3 billion in aggregate.

Founded in 1983, IFS is the leading provider of Field Service Management (FSM) software and is recognized for its vertically aligned Enterprise Resource Planning and Enterprise Asset Management software solutions. IFS is a key enabler for digitalising core operations while contributing to more efficient use of resources and assets across its customers’ value chain. IFS serves over 10,000 customers globally reaching more than one million users.

Darren Roos, CEO of IFS, said: “We are excited to continue our journey with EQT, now with the additional support and commitment from TA Associates. Both have deep enterprise software experience, which make them ideal partners to further accelerate our growth. IFS is the global leader in FSM, a fast-growing market where we continue to win market share. This is where we believe that we can help our customers create the most value, by enabling them to provide their customers with superior service and experience. IFS’ proposition in the market is compelling and differentiated, which, when combined with the market opportunity, provides all the right ingredients for continued growth.”.

Naveen Wadhera, Managing Director at TA Associates and Co-Head of TA Associates’ EMEA Technology Group, said: “We are thrilled to be part of IFS’ journey going forward. We have followed IFS for years and are truly impressed by the work that Darren and his team have done establishing the Company as the global leader within FSM. We believe that there are numerous growth opportunities for the Company, and we look forward to partnering with EQT to support IFS in its next transformation phase.”.

The transaction is subject to customary regulatory approvals and is expected to complete at the end of August 2020.

The Travers Smith team was led by Co-Head of Corporate and Private Equity & Financial Sponsors Head and Partner, Paul Dolman, assisted by Private Equity and Financial Sponsors Partners Adam Orr and George Weavil, who were assisted by Senior Associate Richard Hornshaw and Associates Becky Dove and Tom Lloyd. Competition advice was provided by Partner Nigel Seay and Senior Associate Alana Tinkler.

The EQT funds were advised by Kirkland & Ellis International LLP.

Key contacts

Read Paul Dolman's Profile
Read Richard Hornshaw's Profile
Read Nigel Seay's Profile
Read Alana Tinkler's Profile