White & Case Guides EQT on Strategic IFS Stake Sale
Deal News | Apr 09, 2025 | White & Case
Global law firm White & Case LLP has advised EQT on the sale of a minority stake in enterprise software provider IFS, valued at €15 billion, to a consortium of leading private equity and sovereign investors. Hg will increase its stake in IFS to become a co-control shareholder alongside EQT, while new investors in this transaction include a subsidiary of the Abu Dhabi Investment Authority (ADIA) and the Canada Pension Plan Investment Board (CPP Investments). The transaction signifies the transformation of IFS into a global, AI-driven software leader with a record of successful growth, achieving over €1 billion in annual recurring revenue in 2024. White & Case partner Patrik Erblad led the advisory team, with contributions from partners across the Stockholm, London, and Chicago offices.
Sectors
- Enterprise Software
- Private Equity
Geography
- Global – The transaction involves multiple international investors and advisors located in countries including Sweden (EQT and White & Case in Stockholm), UAE (ADIA), and Canada (CPP Investments), indicating a global footprint.
Industry
- Enterprise Software – IFS operates within the enterprise software industry, providing cloud solutions and industrial AI applications.
- Private Equity – EQT's involvement in selling its minority stake to other private equity firms like Hg and institutional investors signifies activity within the private equity sector.
Financials
- €15 billion – The valuation of IFS for the stake sale transaction.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| White & Case LLP | Legal Advisor | Company | A global law firm advising EQT and IFS on the stake sale. |
| EQT | Seller | Company | A leading global investment firm selling a minority stake in IFS. |
| IFS | Target Company | Company | An enterprise software provider involved in the stake sale transaction. |
| Hg | Buyer | Company | Private equity firm increasing its stake in IFS to become a co-control shareholder. |
| Abu Dhabi Investment Authority (ADIA) | Buyer | Company | A sovereign wealth fund participating in the purchase of a minority stake in IFS. |
| Canada Pension Plan Investment Board (CPP Investments) | Buyer | Company | An investment management organization that acquires a stake in IFS. |
| TA Associates | Minority Shareholder | Company | Retains a minority stake in IFS. |