Allianz Capital Partners (ACP) and AAC Capital Partners (AAC) reached agreement with the French publishing company Editions Lefebvre Sarrut (ELS) to sell the Dutch publishing company Sdu. The transaction was completed on 31 January 2013.

The transaction allowed Allianz Capital Partners to return to Allianz more than twice the amount it invested, yielding an IRR in excess of 30%. Further financial details of the transaction are not disclosed.

Sdu has a leading position in the Netherlands as a publishing company of legal online information, professional magazines and books. In addition, Sdu offers sophisticated information solutions in the area of e-Government solutions and the company is an authoritative publisher in sectors such as construction, transport, government, management and IT. Sdu also holds a 45.33% interest in juris GmbH, the leading supplier of online legal information in Germany.

ELS is originally a French publishing company and an independent, family-owned group, operating in the European market in the area of legal professional information in the LTR domain (Legal, Tax, Regulatory). The strategic acquisition of Sdu by ELS offers the possibility of using Sdu’s potential in the Netherlands and Germany as a basis for further growth and expansion of the company in the long term.

ACP and AAC have jointly acquired Sdu in 2007 in a privatisation from the Dutch State. In 2008, shareholders have supported the sale of Sdu’s former subsidiary Sdu Identification, a supplier of secure documents such as biometric passports, to the French Groupe Safran thereby strengthening the market position as well as the product offering of both companies. Since then, ACP and AAC supported the management of Sdu in successfully accelerating its products and market development through a further transition from printed materials to online publications and services. The acquisition by ELS now offers further possibilities to leverage both companies’ portfolios and distribution channels. Michael Pfennig, director of Allianz Capital Partners, comments: "We are enthused that Sdu not only has a new owner with ELS, but more importantly, an excellent and reliable long-term partner who is bound to bring a number of synergies to the table to help Sdu maximize the company's potential, similar as with Sdu Identification before."