HESTA backs PEP-owned Australia software business
HESTA has acquired a A$120 million ($85 million) equity stake in Australian enterprise software and IT services provider Citadel, following its merger with medical practice software specialist Genie Solutions.
Citadel was taken private last year by Pacific Equity Partners (PEP) at an equity valuation of A$448.6 million, or 14.7x EBITDA. The company concentrates on large enterprise deployments in the healthcare...
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