Harvest owner Five Arrows to launch sale in March as sponsors circle – sources

Breaking News 26 February

Harvest owner Five Arrows to launch sale in March as sponsors circle – sources

Five Arrows Principal Investment is expected to formally launch a sale of French wealth management software provider Harvest in March, according to sources familiar with the matter. 

The private equity arm of Rothschild & Co has begun pre-marketing the wealth management software specialist to trade and sponsor suitors, one of the sources said. Arma Partners is advising Five Arrows on the sale, as reported.

Vendor due diligence is underway via Deloitte, one of the sources added.   

EQT [EQT:STO], Eurazeo, Ardian, Cinven Partners and CVC Capital Partners are among the parties showing early interest in the business, according two of the sources. Other tech-focused funds including Hg are also expected to show interest, one of these sources added.

Harvest generated EBITDA in the region of EUR 20m- EUR 25m in 2023, the sources said.

Five Arrows acquired a majority stake in Harvest in a public-to-private deal that valued the company at EUR 120.9m in February 2019. 

Launched in 1989, Harvest’s customers include retail banks, private banks, insurance companies and independent financial advisors, as per its website. The company has 4,600 customers and has 500 employees spread across five locations in France and Italy.  

Representatives for Five Arrows Principal Investment, Harvest, Arma Partners, EQT, Eurazeo, CVC, Cinven, Deloitte and Hg declined to comment. Ardian did not respond to requests for comment. 

by Dominic Pasteiner, Myriam Mariotte and Charlie Taylor-Kroll

Did you enjoy this article?

Add the following topics to your interests and we'll recommend articles based on these interests.

Technology

Your M&A Future. Today.

Next-generation Mergermarket brings together human insights and machine intelligence to deliver groundbreaking predictive analytics.

Be the first to know with next-generation Mergermarket

Book a demo today