Press Release | Munich, 9 June 2006
AdAstra exits bäurer
_Sage Group Plc. ("Sage") yesterday announced
the proposed acquisition of baeurer GmbH, a portfolio company of
AdAstra, for an aggregate consideration of approximately EUR 24
million. baeurer, based in Donaueschingen, Germany, is a leading
provider of ERP software solutions to the German-speaking midmarket
/ Mittelstand companies. AdAstra invested in baeurer in 2003.
baeurer�s management team co-invested at the time.
_baeurer (www.baeurer.de) is a vendor of a suite of advanced business
management solutions for mid-market businesses, including industryspecific
software for manufacturing. baeurer has over 2,000 mid-market
customers. baeurer's revenue for the year ended 31 December 2005 was
approximately EUR 23 million. Earnings before interest depreciation and
amortisation (EBITDA) were approximately EUR 1,7 million.
_London Stock Exchange listed Sage (www.sage.com), based in Newcastle,
UK, is a leading supplier of business management software and services to
5 million customers worldwide with 2005 revenues of EUR 1,1 billion.
Under the terms of the transaction, Sage has agreed to acquire baeurer for
an enterprise value of approximately EUR 24 million in cash. The acquisition
is expected to complete within four weeks of this announcement.
_Paul Walker, Sage Chief Executive Officer, commented, "Acquiring baeurer
strengthens our market position in Germany by providing advanced and
industry-specific solutions for mid-market customers. Sage's customer
service and marketing expertise will enable us to sell more software and
services to baeurer 's customer base."
_Ulrich Clemm and Thomas Krueger, Managing Partners of AdAstra added:
"We are pleased to hand over baeurer to Sage, an experienced acquirer with
a good acquisition history. For AdAstra, this is, after SUSE Linux and Trados,
another great exit to a good strategic investor."
_AdAstra invested in baeurer in the year 2003, following its receivership 2002
and played the leading role in its turn-around. Today, Baeurer is one of the
leading ERP vendors for mid-market customers in Germany.
AdAstra is a Munich-based independent Private Equity firm, founded in June 2000,
targeting later stage high-growth and technology-oriented companies in IT,
telecommunication and high-tech industries. As a sparring partner to its portfolio
companies, AdAstra provides permanent support through its experienced and interdisciplinary
management team and its contact network. AdAstra currently has an interest
in Ask S.A., Asknet AG, and Gomez Inc.
Ulrich Clemm / Thomas Krueger
Phone: +49. 89. 710 40 85-0
Fax: +49. 89. 710 40 85-29