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Allen & Overy advises Avenga on the financing of the acquisition of Argentinian IT powerhouse IncluIT

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Neubaum Thomas
Thomas Neubaum

Partner

Frankfurt am Main

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Ahammer Rauni
Dr Rauni Ahammer

Senior Associate

Munich

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Dr Mark Hallett

Counsel

Frankfurt am Main

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Harald Klett
Harald Klett

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Frankfurt am Main

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18 November 2022

Allen & Overy has advised Avenga Group (“Avenga”) on the financing of the acquisition of Argentina-based IT company IncluIT.

The Córdoba-headquartered company counts some of the world’s most famous brands among its more than 60 active clients, as well as 800 professionals working from 17 countries, mainly in Latin America. This will allow Avenga to operate in the same time zone as its American customers and enhance the platform’s already strong presence in the U.S. market. IncluIT’s founders and experienced leaders, Alberto Harriague and Rafael Ibanez, will stay on board to drive Avenga’s future organic growth in the U.S. and Latin America and pursue further acquisitions in the LATAM region.

Avenga was formed in 2019 by merging four formerly independent IT companies. Since then, the platform has grown rapidly and established itself as a global player when it comes to complex IT and digital transformation projects for enterprise-level customers. With the acquisition of IncluIT, Avenga now has 4,300 professionals and 31 offices in Europe, Asia, Latin America, and the U.S. The platform is backed by funds managed by Oaktree Capital Management L.P. and Cornerstone Investment Management.

The Allen & Overy team was led by partner Thomas Neubaum (Frankfurt) and senior associate Dr Rauni Ahammer (Munich) and comprised furthermore counsel Dr Mark Hallet (Frankfurt), as well as associates Dr Laura Frömel and Georg Lütkenhaus (both Munich, all Banking & Finance). Additional advice was provided by lawyers from Allen & Overy offices in New York, Warsaw and Luxembourg. Ganado Advocates advised on Maltese law matters.

Allen & Overy has already advised Avenga on several strategically important projects: In the past year with an international team on the acquisition of the Perfectial Group, a Ukraine-based tech company, comprehensively in all relevant legal areas; and also in 2021 on an important refinancing and corporate reorganization as part of Avenga’s realignment. In this context, the existing financing structure was redenominated to a central unitranche financing of the Avenga Group by the private debt fund Eurazeo.