Kirkland & Ellis is advising the EQT VIII and EQT IX funds (“EQT”) on the acquisition of IFS AB from the EQT VII fund. As part of the transaction, TA Associates will invest alongside EQT and will hold a significant minority stake in IFS.
Founded in 1983, IFS is the leading provider of Field Service Management (FSM) software and is recognised for its vertically-aligned Enterprise Resource Planning (ERP) and Enterprise Asset Management (EAM) software solutions. IFS is a key enabler for digitalizing core operations while contributing to more efficient use of resources and assets across its customers’ value chain. The Company serves more than 10,000 customers globally reaching more than one million users.
The transaction is subject to customary regulatory approvals and is expected to close at the end of August 2020.
The Kirkland team was led by London transactional partners Roger Johnson, Aneeq Durrani and Andreas Philipson and antitrust and competition partner Sally Evans.