William Blair acted as the exclusive financial advisor to Abry Partners (Abry) in connection with its pending significant minority investment in European Dynamics (ED), alongside CAPZA. The transaction represents a tri-partite arrangement in which the ED’s founder retains a majority stake, while Abry and CAPZA acquire a significant minority interest and commit substantial follow-on capital to support future M&A initiatives and innovative product development. The transaction was signed on April 9, 2025, and is expected to close by summer 2025 subject to customary closing conditions and approvals.
About the Companies
Abry is one of the most experienced and successful sector-focused private equity investment firms in North America. Since its founding in 1989, the firm has completed over $90 billion of leveraged transactions and other private equity or preferred equity placements. Currently, the firm manages $17 billion of assets across several fund strategies.
Created in 2004, CAPZA is an established European private investment platform. The company is an established private investment platform across private debt and private equity in Europe with more than €9.1 billion of assets under management (AuM). CAPZA is part of AXA Investment Managers Alts (AXA IM Alts), a global leader in alternative investments with over €186 billion of AuM. Through its Flex Equity Mid-Market 2 fund, CAPZA invests up to €150 million in global leaders, with a strong focus on value creation. CAPZA invests from 6 complementary investment strategies: Flex Equity, Flex Equity Mid-Market, Growth Tech, Transition, Private Debt, and Artemid.
ED, founded in 1994, is a leading eGovernment and digital transformation partner for the public sector, recognized for its deep expertise and ability to leverage technology and data to drive transformation. The company has also developed and commercializes a suite of market leading software products specifically tailored to core eGovernment activities (notably in the fields of customs, taxation, procurement, financial markets, and IP management). With a staff of roughly 1,200 across seven main operating subsidiaries, ED works with about 100 clients globally including Federal Governments, European Institutions, and International Organizations in more than 30 countries and four continents.
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