EQT announced that the EQT VIII and EQT IX funds (“EQT”), together with global growth private equity firm TA Associates, have agreed to acquire IFS AB from the EQT VII fund. TA Associates will hold a significant minority stake in IFS.
Founded in 1983, IFS is a leading provider of Field Service Management (FSM) software and is recognized for its vertically aligned Enterprise Resource Planning (ERP) and Enterprise Asset Management (EAM) software solutions. IFS is a key enabler for digitalizing core operations while contributing to more efficient use of resources and assets across its customers’ value chain. The company serves more than 10,000 customers globally reaching more than one million users.
EQT and TA Associates will support IFS’s continued growth and development journey and manifest its global market leadership position by further investing in the company’s organization and strengthening its product capabilities, both organically and through add-on acquisitions in targeted industry verticals.
The investment in IFS is in line with EQT’s thematic approach guided by the United Nations Sustainable Development Goals, specifically SDG 9, “Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation” and SDG 12, “Responsible Consumption and Production”.
The transaction is subject to customary regulatory approvals and is expected to close at the end of August 2020.