Bencis Capital Partners, the buyouts spin-off from NeSBIC Group, has sold AAC Cosmos, a Dutch ICT company, to its management. Financial details were not disclosed. Cosmos is the result of a merger of two companies owned by the NeSBIC Buy Out Fund. In 2000 two ICT firms, AAC International and Cosmos Automatisering, were combined. Since that time the business has more than doubled in size, achieving a turnover of €80m last year.
Bencis spun-out from NeSBIC in November last year and in the same month closed a fund, Bencis Buyout Fund II, on €250m. The sale of Cosmos is the first exit made by the firm since the break from NeSBIC.