Argos Wityu enters into exclusive negotiations with Providence Strategic Growth for the sale of I’Car Systems and DATAFIRST

!#!10/07/2019 – France – Press Release!#!

London, UK and Paris, Saint-Pierre-des-Corps, Lyon, France – 10 July 2019 – Argos Wityu, the European independent private equity group, today announced it has entered into exclusive negotiations with funds advised by Providence Strategic Growth (“PSG”), the growth equity affiliate of Providence Equity Partners (“Providence”), with a view to reaching a definitive agreement for the sale of I’Car Systems and DATAFIRST, the leading French software development companies for automotive manufacturers and dealers. I’Car Systems and DATAFIRST are Argos Fund VI portfolio companies.

I’Car Systems provides an international network of auto dealers with an integrated dealer management system (“DMS”) that simplifies and streamlines dealership activity to improve the relationship between dealers and original equipment manufacturers (“OEMs”). DATAFIRST develops and deploys three key modular management, marketing and sales solutions for the automotive market: Automotive CRM, Automotive DMS and Web & Business Intelligence solutions.

Since Argos Wityu’s acquisition in 2013, revenues at I’Car Systems have grown by more than 50% mainly due to:

  • significant recruitment efforts in product development, marketing and services;
  • investment in product innovation; and
  • international expansion, notably through the acquisition of its Spanish and Portuguese distributors.

With Argos Wityu’s support, I’Car Systems and DATAFIRST merged in April 2018 to create a French leader with greater growth ambitions.

The transaction is subject to the customary pre-acquisition approvals.

Advisors

Argos Wityu (Karel Kroupa, Antoine Forgeard)

M&A: Capitalmind (Michel Degryck, Jean-Arthur Dattée, Karim Mekouar)

Legal: Bryan Cave Leighton Paisner (Rémy Blain, Mathieu Taupin, Stanislas Boyer)

Finance : Grant Thornton (Frédéric Zeitoun, Fabien Lesur, Jean-Baptiste Dauriac)

Tax: Arsène Taxand (Franck Chaminade, Vincent Briand, Blandine Trabut-Cussac)

Providence Strategic Growth

M&A: GCA Altium (Hugues Archambault, Matthieu Gaveau)

Legal: Weil, Gotshal & Manges (Emmanuelle Henry, Guillaume de Danne, Akim Ouint), Uria Menéndez (Christian Hoedl Eigel, Miguel Bolivar Tejedo, Miguel Stokes, Daniel Gurrea Boix, Marta Rocabert Cruz)

Finance: FTI Consulting (Aneesh Maloo, Anton Chernousenko, Leandro Nunes, Ivo Hobson)

Tax: Andersen Tax & Legal / STC Partners (Pierre Bouley, Stéphanie Desprez, Javier Vinuesa, Oliver Padilla, Sergio Chacon, Cristina Manzano)

Social: BTH Avocats (Elisa Bardavid)

Technology: Crosslake (Jim Leeds, Alan Henderson, Nicolas Chéronet)

 About DATAFIRST

DATAFIRST develops and deploys modular management, marketing and sales solutions for the automotive market: Automotive CRM, Automotive DMS, Web & Business Intelligence solutions. DATAFIRST was founded in 1985 and today has over 150 employees. The company headquarters are in Lyon and it maintains an active global presence with several tens of thousands of users throughout Europe. DATAFIRST has built strategic alliances with local partners who are themselves specialists in the automotive distribution sector. A renowned leader in its markets, DATAFIRST anticipates the technological evolutions and successive mutations of its ecosystem for an optimal sustainability alongside its users, vehicle Manufacturers and Dealers and partners.

 About I’Car Systems Groupe

I’Car Systems Groupe develops I’Car DMS, a dealer management system (DMS) software dedicated to automotive industry. I’Car DMS is a pan European solution deployed in 7 European countries and dedicated to small, medium and large size dealer groups equipment. The company also provides project management, training, and customer support services in addition to solutions for automotive repairers, multi-brands automotive distributors and automotive spare parts warehouses. Based in Indre-et-Loire, France, the company was founded in 1979 and has over 150 employees.

Visit www.icarsystems.fr to learn more about the company.

 About Argos Wityu

Argos Wityu is an independent European private-equity group with offices in Brussels, Frankfurt, Geneva, Luxembourg, Milan and Paris. Since its creation in 1989, the group has invested in more than 75 mid-sized companies (Enterprise Value ranging from €25M to €200M). Its majority ownership investments range between €10M and €100M. With €1Bn under management, the group develops a unique investment strategy focusing on business transformation and growth, instead of financial leverage, and on bringing solutions to complex business and shareholding situations.

For further information: http://argos.wityu.fund

About Providence Strategic Growth Capital Partners LLC

Providence Strategic Growth (“PSG”) is an affiliate of Providence Equity Partners (“Providence”). Established in 2014, PSG focuses on growth equity investments in lower middle market software and technology-enabled service companies. Providence is a premier global asset management firm that pioneered a sector-focused approach to private equity investing with the vision that a dedicated team of industry experts could build exceptional companies of enduring value. Since the firm’s inception in 1989, Providence has invested in more than 180 companies and is a leading equity investment focused on the media, communications, education and information industries. Providence is headquartered in Providence, RI, and also has offices in New York and London. For more information on PSG, please visit https://www.provequity.com/private-equity/psg, and for more information on Providence, please visit https://www.provequity.com.

Media Contacts

I’Car Systems and DATAFIRST

Anne Copey

Cap Media

+33 1 83 62 55 49

Anne.copey@capmedias.fr

Argos Wityu

Coralie Cornet

Head of Communications

+33 1 87 44 92 18

ccc@argos.fund

Providence Strategic Growth Sard Verbinnen & Co

Conrad Harrington

+44 207 4671 050

Prov-SVC@SARDVERB.com