The South Eastern Europe Fund L.P. (“SEEF”) a fund advised by Global Finance, has announced it has sold its 90.5% stake in Total Soft S.A. (“Total Soft”), the Romanian leader in Enterprise Application Software to Logo Yazilim Sanayi ve Ticaret A.S. (“Logo”). The equity value of 100% of the shares was € 30.25 million. With an EBITDA of € 3.48 million the price paid had a 2015 EBITDA multiple of 8.6x.
Total Soft, established in 1994, has developed its flagship product, Charisma Business Suite that serves large and mid-size enterprises in almost all business sectors. Starting from its home market Total Soft succeeded in expanding in international markets and now has clients in 35 countries all over the world.
Global Finance Group has been key for the growth of Total Soft by providing management support, industry expertise and assisting in strategic decisions over the past ten years.
George Kourtis, Partner at Global Finance said, “Successful exit from Total Soft showcases our commitment to value appreciation through growth of sales, new product and services development and regional expansion. We assisted Total Soft’s strong management team to focus on Charisma and excel in selective vertical markets with high potential for success internationally. Despite the financial crisis, Total Soft grew over 50% in sales since 2010 and continued to develop innovative applications for its corporate clients.”