Mannai Corporation QPSC enters into exclusive negotiations with a group of investors led by Bain Capital Private Equity to dispose of Inetum S.A.

 

The Board of Directors of Mannai Corporation QPSC approved, at a meeting held on 18 January 2022, entering into exclusive negotiations with a group of investors, which is led by Bain Capital Private Equity and includes NB Renaissance, to dispose of its entire shareholding in Inetum S.A.

 

The proposed disposal would comprise all of the shares of Inetum S.A. held by Mannai Corporation QPSC which represent circa 99% of Inetum S.A.'s share capital on a non-diluted basis. Inetum S.A. is the parent company of an international group providing digital services and solutions.

The investor group is led by Bain Capital Private Equity and includes NB Renaissance and the management team of Inetum.

“Mannai Corporation QPSC is proud to have partnered with Inetum and its excellent management team during its tremendous period of growth and expansion over the last six years. We are pleased Inetum now has the opportunity to continue its growth trajectory and seek new horizons alongside Bain Capital Private Equity and its partners”, said Keith Higley, a Director at Mannai Corporation QPSC.

“Leveraging our deep local network established through several past investments in France, we were able to develop a strong relationship with Inetum’s management team and appreciate their long experience, credibility in the sector and track record of driving growth in the business. We are very excited to partner with Management and with NB Renaissance to execute on the opportunity ahead”, said Matthias Boyer Chammard, a Managing Director at Bain Capital Private Equity.

“Inetum is a leading digital transformation player, supporting its customers to take advantage of the opportunities presented by technology. We developed this opportunity through our thematic sourcing in IT services, having invested in other businesses in the sector (including Engineering in Europe and Genpact and Brillio globally). We are very excited by the opportunity to support Inetum’s growth through organic and inorganic investments”, said Giovanni Camera, a Principal at Bain Capital Private Equity. 

“Together with our new partners, we see great potential to further accelerate Inetum’s growth and capabilities across the geographies and businesses where we operate” said Vincent Rouaix, Chairman and CEO of Inetum. “The team at Bain Capital Private Equity have a very credible French franchise and strong knowledge of the sector globally. We are very much looking forward to partnering with them to take Inetum to the next level of its growth in the next years.”

The relevant employee representative bodies within the Inetum group will be consulted and Mannai Corporation QPSC's shareholders will be asked to approve the proposed disposal at an extraordinary general assembly meeting to be convened in due course. Completion of the proposed disposal will be subject to obtaining the necessary clearances from the competent antitrust and regulatory authorities. Further announcements will be made in due course. 

Mannai Corporation QPSC is advised by Crédit Agricole Corporate and Investment Bank, J.P. Morgan and Lazard Frères acting as financial advisors and Clifford Chance Europe LLP acting as legal advisor.in Capital and NB Renaissance are advised by Credit Suisse, Torch Partners and Eight Advisory as well as Weil, Gotshal & Manges LLP acting as legal advisor.

 

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