Alpinvest Takes Stake in Dutch IT Services Group

Alpinvest Holdings in May invested an undisclosed sum to take a stake of approximately 12% in Proface Automatiseringsgroep.

Specialising in the exploitation and management of computing centres and in software development, Proface is one of the leading Dutch companies in its market segment, with a client base dominated by banks and other financial institutions. The company, based in Hoofddorp, employs some 250 IT professionals and made sales of DFl 30 million (ecu 13.5 million) in 1997.

This investment, by means of a secondary share issue and subordinated loan stock, took Alpinvest’s total disbursements to date in 1998 to DFl 150 million.