White & Case advises EQT on sale of minority stake in IFS to Hg, ADIA and CPP Investments at €15 billion valuation

Global law firm White & Case LLP has advised EQT and IFS on the minority stake sale and investment in enterprise software provider IFS at a €15 billion valuation.

“Our role advising on this landmark transaction involving a consortium of leading private equity and sovereign investors underscores the scale of IFS’s transformation into a global, AI-driven enterprise software leader and reflects the strength of our partnership with EQT and IFS through multiple strategic milestones,” said White & Case partner Patrik Erblad, who led the Firm’s deal team.

Hg will increase its stake in IFS to become a co-control shareholder alongside EQT, with TA Associates remaining as a minority shareholder. New investors in this transaction include a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and the Canada Pension Plan Investment Board (CPP Investments).

IFS is a leading provider of cloud enterprise software and Industrial AI applications. This transaction follows many successful years of growth for IFS, delivering more than €1 billion in annual recurring revenue in 2024 with total revenue of over €1.2 billion.

The White & Case team which advised on the transaction was led by partner Patrik Erblad (Stockholm) and included partners Mike Weir, Michael Engel, Nicholas Greenacre, Victoria Burton (all London) and Jeff Gilson (Chicago), counsel Heidi Blomqvist (London) and Samantha Rozell (Chicago) and associates Jonas Brandt, Rebecka Tedroff, Isak Bruncevic, Denise Sparremo, Marcus Halling (all Stockholm), Reni Osibamowo, Alexander Ward, Johanna Wagner, Joshua Crawley and Miriam Lewis (all London).

For more information, please contact: White & Case Stockholm, E stockholm@whitecase.com

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