M&A Rumor: Bain Capital May Target IT Services Provider Solutions 30
Private equity firm Bain Capital is mulling a potential bid to buy Solutions 30, a major technology services provider in Europe, Bloomberg reported.
There’s no guarantee that Bain will actually bid for Solutions 30, and it’s unclear if an actual M&A deal will happen, the report noted. ChannelE2E has not independently confirmed the report.
Solutions 30: Annual Technology & Consulting Revenues, Profits
Either way, Solutions 30 represents a sizable acquisition target in the IT services provider market. Among the data points to note:
- Solutions 30’s annual revenue was $943.9 million in 2021, up 6.7% from $885 million in 2020.
- ChannelE2E does not know Solutions 30’s profit figures for 2021, but we found some for 2020. Specifically, adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) was $115 million in 2020, up from $96.6 million in 2019.
- Note: Financial figures converted from euros to U.S. dollars by ChannelE2E.
Solutions 30: European Market Reach and Technology Market Focus
More than a traditional MSP or IT service provider, the Solutions 30 business has telecom and IT solutions expertise in a range of next-generation markets — such as the deployment of 5G networks, smart electricity meters, electric vehicle charging stations and other IT services focused on renewable energies.
Solutions 30’s five business units focus on:
Solutions 30 has roughly 15,700 service engineers who manage more than 60,000 service calls per day, according to stats from the company’s website. Those customers are located in France, Italy, Germany, the Netherlands, Belgium, Luxembourg, the Iberian Peninsula, the United Kingdom, and Poland.
Bain Capital: Private Equity for Technology Consulting Companies
Private equity firm Bain Capital has extensive M&A and investment experience in and around the IT services market.
Example deals include:
- December 2021: Brillio, backed by Bain Capital, acquired Cedrus Digital — a cloud consulting company and Amazon Web Services partner.
- 2019: Bain Capital Double Impact, the investment arm of Bain Capital, acquired a majority stake in Rural Sourcing, an IT services and software development firm.
Founded in 1984, Bain Capital has roughly $160 billion of assets under management.