Mumbai-listed group eClerx will buy Italy’s Clx Europe, a global media content creation and delivery solution company with over 40 years of experience working with many of the world’s largest retail, publishers and luxury brands (see here the press release).
EClerx, a specialist knowledge and business process outsourcing company, will pay for Clx Europ a total consideration of 25 million euros as the company closed year 2014 with 19.4 million euros in revenues (from 17.5 million in 2013) and 4.5 millions of ebitda (from 3.3 millions) (see here the investors’ presentation).
Clx Europe creates, manages and delivers creative assets globally to the multi-channel market for luxury brands and major retailers. The combined companies’ capabilities are highly complementary, and now form a continuous value chain of creative asset development, digital multi-channel production, data management, and analytics and insights.
Sellers were Italian private equity firms Progressio sgr and Opera sgr (the latter is the actual maanger for all portfolio companies of Cape Natixis sgr, who was liquidated some years ago). The two funds acquired the company in 2008, after Clx Europe closed year 2007 with revenues of 30.8 million euros and an ebitda of 12.8 millions (source Private Equity Monitor).
Progressio and Opera have been advised N+1 and studio Pirola law firm.
