Permira provides financing for software acquisition

The firm has worked with private equity firm 21 Centrale Partners for the second time through its latest deal.

Permira Debt Managers has provided financing to facilitate the acquisition of French software company DL Software. The financing was provided to 21 Centrale Partners, a France-based private equity firm.

The investment has been made from the firm’s Permira Credit Solutions III (PCS3) fund. Further terms of the financing could not be established by time of publication.

This is the second time Permira has worked with 21 Centrale. The firm served as a sole lender in the refinancing of French baked-good distributor DGF at the end of 2016. The investment was made from the lender’s second Credit Solutions fund.

Permira usually invests via its debt funds in leading companies within niche markets. The firm also looks for companies growing via acquisition, which both serves companies in niche sectors well and enhances the lender’s competitiveness in providing capital when needed.

The deal is the third piece of financing in quick succession made from Permira’s latest credit offering. The firm provided debt financing facilitating the buyout of Belgian medical supplies distributor Duomed earlier this month. In April, the firm inked a deal worth up to £375 million (€436 million, $488 million) to refinance outstanding debt held by members club Soho House. The deal was the largest ever debt deal provided by the firm.