GCA Altium has advised Providence Strategic Growth on its acquisition of I’Car Systems and Datafirst, the leading French software providers for automotive manufacturers and dealers, from Argos Wityu, the European independent private equity group.
I’Car Systems and Datafirst merged in April 2018 with the support of Argos Wityu. Together, they provide a full range of technology solutions – integrated dealer management systems (DMS), customer relationship management (CRM), Web and Business Intelligence solutions for vehicle distribution – in 7 European countries. Tens of thousands of users at vehicle manufacturers and dealers as well as their partners rely on the companies’ products and services.
Providence Strategic Growth (PSG) is the growth equity affiliate of Providence Equity Partners, a global sector-focused asset management firm with offices in Providence (Rhode Island), New York and London. The transaction is PSG’s first investment in France.
Hugues Archambault, Managing Director at GCA Altium, said: “We are very proud of advising Providence Strategic Growth on the acquisition of I’Car Systems and Datafirst. The combination of their French market leadership, extensive product range and relationship with all European OEMs, with Providence’s sector intelligence and financial strength is perfect to allow the group to become a leading European dealer solutions provider in the coming years.”
The transaction is subject to the customary approvals.