EQT VII sells software company IFS for over EUR 3 billion

EQT VII fund has agreed to sell IFS, a global provider of enterprise software, to its successor funds EQT VIII and EQT IX, along with private equity firm TA Associates. The transaction is valued at over EUR 3 billion, with TA Associates becoming a minority partner.

Founded in 1983, IFS specializes in Field Service Management (FSM) software and also offers industry-specific solutions for Enterprise Resource Planning (ERP) and Enterprise Asset Management (EAM). The company's software is used by over 10,000 customers worldwide, reaching more than one million users for digitalizing their core operations.

During EQT VII's ownership period, IFS has experienced significant growth with EQT's support. The company's revenue has doubled to SEK 7.3 billion, and its EBITDA has quadrupled. The employee base has increased by 50 percent. During this time, IFS also completed several add-on acquisitions, including WorkWave and Astea, strengthening its position in the FSM market.

According to EQT Partners, IFS has grown rapidly and established itself as a leader in the enterprise software sector. EQT views the company's development as an example of their strategy to build future-proof businesses. IFS CEO Darren Roos described the partnership with EQT VII as excellent and looks forward to continued collaboration with EQT and TA Associates.