Winner in sale of Bridgepoint-backed eFront expected late next week

  • Bridgepoint acquired eFront for €300 mln in 2015
  • CS, Morgan Stanley advise on current eFront sale
  • EFront may sell for more than $1.3 bln: source

Bridgepoint stands to make a huge return when it picks the winner of the eFront auction. The successful buyer could be announced next week.

Final bids for the Paris software company were due this week, three sources said. The process was well-attended by private equity and strategics, people said.

One buyout shop and two strategics are making a final push for eFront, one of the people said.

EFront could sell for more than $1.3 billion, a second person, part of the three, said. Credit Suisse and Morgan Stanley are advising, sources said.

“The process continues,” the second person said.

The auction is expected to conclude next week and a winner could be announced shortly afterward, the source said.

Founded in 1999, eFront provides software for the alternative-investments industry, specifically PE firms and LPs. The company has 850 clients spread across 48 countries.

Bridgepoint acquired eFront in January 2015 for about 300 million euros ($355.1 million), Buyouts reported. The seller at that time was Francisco Partners, which bought the company in 2011 for 68 million euros, Buyouts said.

Bridgepoint, a U.K. private equity firm, invests in sectors including business services, consumer, financial services, healthcare, manufacturing and industrials, as well as media and technology. The firm seeks to buy businesses valued between 200 million and 1 billion euros.

In January, Bridgeport acquired Miya, an operator of water distribution in Portugal, from the business arm of Arison Group.

Efront does not comment on market rumors, said Thibaut de Laval, chief strategy and marketing officer, in an emailed response to questions. “We are focused on running our business and serving our customers,” da Laval said.

Executives for Bridgepoint and Credit Suisse declined comment. Morgan Stanley could not be reached for comment.

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