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Ropes & Gray Counsels Italmobiliare and BravoSolution in a Definitive Agreement to Combine with Jaggaer

Practices: Private Equity, Tax, Finance, Executive Compensation & Employee Benefits

Ropes & Gray counseled Italmobiliare in a definitive agreement to combine its majority owned company BravoSolution, a leading global strategic procurement solution provider, with Jaggaer, a Accel-KKR owned company. Jaggaer offers the only comprehensive and complete spend solution suites in the procurement space, and with BravoSolution creates a leading international platform in the eProcurement sector. The announcement was made on November 29.

Jaggaer will acquire BravoSolution and its subsidiaries on the basis of an Enterprise Value of approximately €184 million and Italmobiliare will invest €35 million in the newly consolidated combined entity for an ownership interest of 9.5%. The transaction is expected to close by the end of December, subject to customary closing conditions.

The Ropes & Gray team was led by private equity partner Neill Jakobe, tax partner Elaine Murphy, finance partner Alexander Zeltser, benefits partner Renata Ferrari, private equity counsel Tim Castelli and private equity associates Justin Voeks and Andrew Pomranke.

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