PCS3 acts as sole lender in the acquisition of DL Software19 May 2017
Permira Debt Managers (“PDM”), the debt management and advisory arm of Permira and one of Europe’s leading specialist debt investors, today announces that direct lending fund Permira Credit Solutions III (“PCS3”) is acting as sole lender to finance the acquisition of DL Software, a French Software editor, by 21 Centrale Partners. The acquisition is supported by long-term debt provided and arranged by PCS3 as sole lender.
Founded in 2003, DL Software is a specialised Enterprise Resource Planning (ERP) software provider addressing niche markets. The company is organized in eight subsidiaries covering four main business sectors: healthcare, wholesale, tourism and retail.
It provides turnkey solutions (edition, integration, maintenance and training) in addition to specific modules helping businesses to increase sales per client and win new customers. The business operates its services primarily on a subscription basis and enjoys a high level of recurring revenues due to the yearly subscription fees and a stable customer base.
Roy Awad, Investment Director at PDM commented: “We are very pleased to back DL Software with a flexible financing solution provided by our most recent direct lending fund PCS3. The business has performed well in the last few years and has a clear strategy for sustainable growth. DL software is a clear leader in its niches with a resilient core business. We are also delighted to complete another transaction with 21 Centrale Partners.”