Fri 03/19/2021 14:04 PM
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Relevant Document:
FY’19 Financial Report

German financial software company Actico is running a sale process with Raymond James working as financial advisor, sources told Reorg. A group of potential buyers, mainly sponsors, are carrying out the due diligence, sources said.

Lenders are following the sale which is expected to be supported by debt. The company is being marketed off projected 2021 EBITDA of €10 million and could reach a valuation of €180 million based on a multiple of 18x, sources said.

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In 2020, EBITDA totaled about €8 million, sources added. They said the asset is attractive as there are fewer competitors in the financial automation software sector and the company has consistent growth.

Actico’s revenue increased 11% year over year to €19 million in 2019 with EBIT of €2.1 million, according to its latest accounts. The company said it expects revenue to grow a further 11% year over year in 2020, based on license sales and planned rentals, with an EBIT margin of 15%, the report added.

The company warned in its report about a temporary weakening of business in the second and fourth quarter of 2020 due to the coronavirus pandemic although it was unclear at the time whether that would affect sales, according to the report.

Actico appointed Hans Jürgen Rieder as CEO in January.

At Dec. 31, 2019, the company’s debt amounted to €7.1 million, of which €5.7 million is owed to its parent company Actico Holding GmbH, according to its financial report.

Actico acquired software company Visual Rules in 2019.

Actico’s name was changed from Bosch Financial Software in 2015 after a management buyout of its software solutions portfolio.

Based in Immenstaad, Germany, Actico provides software solutions for automation and decision management. The company has more than 50,000 users and operates through fully owned subsidiaries in North America, EMEA and Asia Pacific, according to its website.

Actico and Raymond James did not reply to Reorg’s request for comment at the time of the publication.

--Lucía Camblor, Kerstin Kubanek
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