Cardno Sells Software Business XP Solutions
Professional infrastructure and environmental services firm Cardno Limited today announced it had signed an agreement for the sale of software business, XP Solutions, for USD $49 million to private equity firm EQT. The net proceeds of the sale will be used to strengthen the company’s capital structure and to further reduce net debt.
XP Solutions provides industry standard sustainable drainage and flood hazard software for the civil engineering and environmental sectors. It services clients across the Americas, Asia Pacific and Europe, Middle East and Africa regions.
Robert W. Baird served as exclusive financial advisor to Cardno Limited on the transaction.