Issue Information Technology NV, a rapidly-growing Dutch services company, has accepted a $96.8m leveraged buyout from a group headed by UK-based venture capitalists 3i Group Plc. The deal gives 3i a majority stake in the Rotterdam-based reseller and systems integrator that had revenue of $49.2m last year.
Issue has been recording 50% annual growth rates and, with a strong order book, it expects this rate of expansion to continue for the next two years. With a background in CAD systems, Issue has moved into network integration, office automation and implementation of SAP AG’s R/3 ERP system.
Now Issue is preparing to offer e-commerce and server hosting facilities and CEO Arie Stelloo says it aims to become a leading IT provider in Holland, Belgium and Luxembourg. While the company is profitable enough to have considered an IPO, Stelloo says he prefers to spend his time growing the business rather than answering questions on its financial performance.
Since 3i likes to recover its investment at the enhanced values that an IPO tends to bring, he concedes that Issue could be heading for the market in the next few years.
