Information Technology
EQT, Hg and TA-owned IFS valued at EUR 15 billion in minority stake sale, following investment from Hg, ADIA and CPP Investments
Over the past year, IFS added 350 new customers including Exelon who adopted IFS to streamline asset maintenance across its energy grid, Rolls-Royce who is using IFS to transform service delivery of its Power Systems business, and Total Energies who is deploying IFS as the single platform for management and servicing of its global operated asset portfolio. Moreover, an increasing number of large businesses are moving to IFS which is reflected in the average deal size of IFS's largest customers increasing by 64% year-on-year.
, said: "IFS's success and sustained growth is centred around a commitment and track record of rapidly delivering business value to our customers. We have a differentiated proposition that continues to drive momentum in the industrial setting, specifically with the agentic and generative capabilities of IFS.ai, which enables us to be the technology of choice for the businesses that service, power and protect our planet." Moffat continued: "The investment and continued commitment from Hg, EQT and TA will help IFS further accelerate our journey to be the undisputed category leader of Industrial Software."
, added: "EQT's relationship with IFS started in 2015 and it has been remarkable to see the company's growth since then. Starting as a software vendor focused on Northern Europe , IFS has become a global provider of enterprise solutions while embracing the power of AI for the benefit of its industrial clients. It's a prime example of EQT's ability to 'run with the winners', where we partner with management teams over the long-term to scale regional players into global champions. We are excited to work alongside Hg to continue supporting IFS through this next phase."
, commented: "With 20 years' experience investing in software, we recognise exceptional businesses when we see them. Our increased investment in IFS reflects our conviction in their long-term vision and strong execution, which enables their customers' digital transformation." , added: "Since our initial partnership in 2022 alongside EQT, Mark and the team have not only delivered impressive and consistent growth but have emerged as a global leader in Industrial AI - translating the promise of AI into practical solutions that drive efficiency and sustainability for essential industries, with significant potential for continued growth."
, commented: "IFS's exceptional leadership, strong execution, and transformative AI capabilities are redefining what's possible in enterprise software. We remain confident in the company's vision and are excited to be part of its continued journey."
The transaction is subject to customary regulatory approvals and is expected to complete end of Q2 2025. IFS and selling shareholders were advised by Arma Partners and White & Case, EQT was also advised by Evercore, and Hg was advised by Morgan Stanley & Co. plc and Skadden.
EQT Press Office, press@eqtpartners.com
Tom Eckersley , tom.eckersley@hgcapital.com
Sam Ferris , sam.ferris@hgcapital.com
Maggie Benoit , mbenoit@ta.com
EUROPE / MEA / APJ: Adam Gillbe, adam.gillbe@ifs.com
NORTH AMERICA / LATAM:
Mairi Morgan , mairi.morgan@ifs.com
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