Contact: José Kabana
Communications Equity Associates, S.A. ("CEA") announced today that it represented Fujitsu Consulting ("Fujitsu") in the sale of its Spanish operations, DMR Consulting Spain ("DMR"). Fujitsu, the global consulting and services arm of the $38 billion Fujitsu Limited has sold its ownership interest in DMR to a group that includes the DMR management team backed by the private equity firms, Apax Partners Funds and Financial Managers. The management team will own 54.7% of the company, and Apax Partners Funds and Financial Managers 38.3% and 7%, respectively.
DMR is a multinational IT consultancy firm that began operating in Spain in 1996. With 2,339 employees and revenues of €160.5 million (2002), DMR is one of the leading suppliers of IT services in Spain. Its customer base includes Spain's leading corporations spanning the following sectors: Telecommunications, Media, Financial Services and Insurance, the Manufacturing and Retail Industries, Energy and Public Administration.
The company has offices in Barcelona, Seville, Lisbon, Milan, Rome, Frankfurt, Munich, Vienna, Santiago de Chile, Buenos Aires, Mexico City, Sao Paulo and Rio de Janeiro.
According to Fujitsu Consulting President and CEO Michael Poehner, "DMR Consulting Spain has operated under a different business model and has evolved to a point where the divestiture can benefit both companies. DMR Consulting Spain can now operate as an independent company and Fujitsu Consulting has additional funds available to support strategic initiatives in its key markets, particularly the U.S."
José Kabana , Managing Director of CEA's Madrid office and Almudena Garcia Calle, Director represented Fujitsu in the transaction.
Founded in 1973, CEA is a leading provider of investment banking services and private equity to the global media and entertainment, communications and information technology industries. With a team of highly experienced personnel worldwide, CEA has an unequaled depth and breadth of industry knowledge, expertise and long-standing industry relationships. CEA has completed over 800 transactions totaling $35 billion in more than 50 countries. CEA's affiliates also manage, co-manage or participate in a worldwide family of private equity funds with committed capital of approximately $1.15 billion for private equity investments in the industries CEA serves. Included in this amount is an ownership interest in the general partner of a $300 million European-based private equity fund. CEA's reputation and track record of success are built on delivering innovative, value-added solutions and services to clients worldwide.