Mooreland Partners advises ProwebCE on recapitalization led by Edmond de Rothschild Investment Partners and Iris Capital
Levallois-Perret, France – June 27, 2012 – Mooreland Partners is pleased to announce that it acted as financial advisor to the management and shareholders of ProwebCE S.A (ALPRW.PA) in the €36 million recapitalization of the company led by Edmond de Rothschild Investment Partners and Iris Capital, with additional financing provided by the corporate alternative investment fund of Edenred S.A (EDEN.PA).
A newly formed holding company controlled by ProwebCE management and the financial investors shall acquire 77% of ProwebCE shares listed on NYSE Euronext. A tender offer for all remaining outstanding shares will be launched as soon as the necessary regulatory approvals are obtained.
ProwebCE is the leading provider of enterprise software and e-commerce solutions for the “Comités d’Entreprise” market in France. The Company’s integrated SaaS package enables the efficient administration of employee subsidy programs. ProwebCE also provides an e-commerce platform linked to its software suite that allows employees to seamlessly manage and spend their subsidies online. ProwebCE was founded in 1998 and is headquartered in Levallois-Perret, France.
The recapitalisation of ProwebCE is the 12th transaction advised by Mooreland Partners since the start of 2012.
For more information on the ProwebCE transaction, please contact Stephen Schweich.
Stephen Schweich, Managing Director
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