LONDON, UK: The Apax Digital Fund (ADF) has announced that Caisse de dépôt et placement du Québec (CDPQ) has agreed to acquire a controlling stake in Wizeline, a global technology services provider that builds high-quality digital products and platforms, subject to customary closing conditions.
ADF will retain a minority shareholding in Wizeline following the transaction. AGA is a limited partner in Apax Digital Fund (ADF).
The transaction values AGA’s look through investment in Wizeline at approximately €10.3 million. This represents an uplift of c. 64% to last Unaffected Valuations and an uplift of c.€4.0 million (c.€0.01 per share) in the Adjusted Net Asset Value of AGA at 30 June 2021.
Note that these figures relate to AGA’s look through position of ADF’s overall investment in Wizeline and are stated before taking into account any closing adjustments, fees, costs, and carried interest, and translated based on the latest exchange rates available where applicable.
Founded in 2014, Wizeline is a global technology services provider that builds digital products and platforms that accelerate time to market. The company focuses on measurable outcomes, partnering with customers to modernise core technologies, mature data-driven capabilities, and improve user experience.
The Apax Funds have significant experience in the tech-enabled services sub-sector, with current investments in this space including Thoughtworks (Apax IX), Coalfire (Apax X), Herjavec Group (Apax X) and Lutech (Apax X).
AGA, whose shares are listed on the London Stock Exchange, provides investors with access to the investment expertise of Apax Partners through its investments in a diversified portfolio of private equity funds advised by Apax Partners as well as derived investments in debt and equity. In May 2017, AGA made a commitment of $50m to Apax Digital Fund (ADF).
Apax Partners LLP (Apax) is a leading global private equity advisory firm. For nearly 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $60 billion.
The Apax Funds invest in companies across four global sectors of Tech, Services, Healthcare and Internet/Consumer. These funds provide long-term equity financing to build and strengthen world-class companies.
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