Lincoln International advises Bregal Unternehmerkapital and its portfolio company Tabularius Verwaltungs GmbH on the acquisition of Syntela IT-Dienstleistungs GmbH and its subsequent refinancing
Following the acquisition of INTER-FORUM GmbH („INTER-FORUM“) in December 2015, Tabularius Vewaltungs GmbH („Tabularius“), a portfolio company of funds advised by Bregal Unternehmerkapital („Bregal“), acquired Syntela IT-Dienstleistungs GmbH („Syntela“) and subsequently refinanced the group. The refinancing was arranged by NORD/LB and KfW Bank.
Through the acquisition of Syntela, the Tabularius group will be able to provide an enhanced and full service offering combined with outstanding customer orientation. The offering comprises a broad range of software related solutions and development alongside bespoke outsourced auditing and billing services for statutory health insurance groups in Germany. The newly formed group will represent one of the leading providers in that segment and will serve as a central contact point for the statutory health insurances in Germany, offering a portfolio of comprehensive services combined with deep industry expertise.
Lincoln International acted as exclusive financial advisor for Tabularius and Bregal on this transaction.
The company is one of the leading providers of outsourced auditing and billing services for statutory health insurances in Germany. INTER-FORUM predominantly focuses on larger health insurances (more than 1 million policyholders), which are provided with individual and reliable processes for a high volume of invoices. Services comprise invoice auditing and billing for pharmacies and other health service providers, software, consulting and archive management services as well as DMP (Disease Management Program) solutions. INTER-FORUM was founded in 1999 and employs approx. 1,000 professionals at its headquarters and subsidiaries in Leipzig, Germany.
The company is also a specialised and leading provider of outsourced auditing and billing services for statutory health insurances in Germany. Syntela focuses on employer-based health insurances and was able to win additional craft guild health insurances and alternative health insurances providers as customers in recent years. The company provides its customers (pharmacies, physicians, other health service providers etc.) with standardised auditing and billing processes which are characterised by a high degree of automation. Syntela was founded in 2004 and currently employs approx. 140 professionals at its headquarters in Leipzig, Germany. Until the recent acquisition by Tabularius, the Caldec holding held a majority stake in the company.
In December 2015, Bregal invested in INTER-FORUM and ever since supports the management in the assessment of future growth opportunities for the business. Bregal is a global family of private equity and fund investment vehicles that has invested over Euro 9.5 billion since 2002.
About Lincoln InternationalLincoln International specializes in merger and acquisition advisory services, debt advisory services, private capital raising and restructuring advice on mid-market transactions. Lincoln International also provides fairness opinions, valuations and pension advisory services on a wide range of transaction sizes. With sixteen offices in the Americas, Asia and Europe, Lincoln International has strong local knowledge and contacts in key global economies. The firm provides clients with senior-level attention, in-depth industry expertise and integrated resources. By being focused and independent, Lincoln International serves its clients without conflicts of interest.
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