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Astorg makes Sofico investment

European private equity firm Astorg, is to acquire a 51% stake in Sofico, a provider of software solutions & services for the automotive leasing and mobility industry, with company founders Gémar Hompes and Piet Maes and investor Apheon, all significantly reinvesting in the business.

Astorg says it will actively support the acceleration of Sofico’s development, organically and through M&A.

Headquartered in Ghent, and with 10 offices across Europe, North America, and Asia Pacific, Sofico serves over 45 customers, (including eight of the 10 largest vehicle leasing companies), employs over 500 people, and is expected to generate more than €80m in revenue in 2023.

Financial terms of the transaction, which is subject to customary regulatory approvals and is expected to close during the first quarter of 2024, have both been disclosed.

Astorg was advised by Kumulus Partners (lead M&A), CVA (Commercial Due Diligence), EY (Finance and Tax Due Diligence), Baker McKenzie (Corporate Legal), Crosslake (Tech Diligence), ERM (ESG Diligence) and Marsh (Insurance Diligence). Sofico and Apheon were advised by 8Advisory (Finance) and A&O (Legal). Founders and management were advised by Laurius (Legal).

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