Carlyle floats Transics on Euronext(3)

Global buyout firm The Carlyle Group has floated Transics, a European IT business, on Euronext Brussels. The flotation, which raised €46 million, is the first major exit for the firm’s €222m Europe Technology Partners fund.

Carlyle Europe Technology Partners, one of The Carlyle Group’s funds, has raised €46 million ($61 million) through the initial public offering of Belgium-based IT company Transics. The offering of 2,628,571 shares on Euronext Brussels was priced at €17.50 per share and values the business at €115 million.

David FitzGerald, managing director at Carlyle and co-head of the Europe Technology Partners team, said: “The success of our investment in Transics verifies our fund’s strategy focussed on mid-cap technology companies with the potential to become European or global leaders.”

Founded in 1990, Transics provides on-board and fleet management solutions for the transport and logistics sector. Transics’ sales have increased 36 percent from €18.57 million in 2005 to €25.26 million in 2006 while EBITDA has increased more than 50 percent from €4.74 million to €7.22 million.

Carlyle bought an 80 percent stake in the business in 2006 and supported Transics’ acquisition of French IT company Delta Industry Service in April 2007.

The Carlyle Europe Technology Partners fund was launched in 2005 with €222 million of committed capital and invests in emerging technology companies in Europe. The Carlyle Group has $58.5 billion under management.