Rgi, an Italian software maker for insurance companies, which is controlled by paneuropean private equity firm Ardian, is said to be on sale with GCA Altium as sale advisor, Il Sole 24 Ore wrote, adding that US private equity firm Corsair Capital is said to be in a favourite position.
Ardian acquired ia 72% stake in Rgi’s capital in May 2014, with the founder Paolo Benini and the management still owning the rest (see here a previous post by BeBeez). The sellers were Italian private equity firms 21 Investimenti and Quadrivio sgr, which in turn had delisted Rgi from the Italian Stock Exchange in 2009 after a tender offer.
Rgi reached 58.7 million euros in revenues in 2016 (from 50.3 millions in 2015), an 11.4 million euros ebitda (from 11 millions) and a net financial debt of 38.6 millions (from 24.5 millions) (see here analysis by Leanus, after free registration and login). If an 8x ebitda multiple is taken, the company might then be valued more than 90 million euros.
In September 2016 Rgi had bought 100% of Kapia Solutions, a French company active in the same sector ad Rgi with a focus on life insurance (see here a previous post by BeBeez).
