Carlyle Group is close to finalising the sale of Dutch technology services provider HSO to Bain Capital in a deal valuing the company at around $1bn, according to Bloomberg sources. 

The transaction, which could be announced as early as Wednesday, will see HSO’s management reinvest in the business alongside Bain.

The move comes amid a renewed wave of private equity dealmaking, with firms under pressure to both deploy capital and return funds to investors. Carlyle recently agreed to sell funds network operator Calastone to SS&C Technologies for about $1bn and struck a deal to acquire a majority stake in IT consultancy Adastra Group.

Founded in Amsterdam, HSO is a Microsoft solutions integrator that designs, implements, and manages business applications built on Microsoft’s cloud platforms, including Dynamics365, Azure, and Microsoft365. The company serves more than 1,200 clients worldwide and employs about 2,800 staff.

Since Carlyle’s investment in 2019, HSO has expanded through a series of acquisitions, most notably its 2022 purchase of Netherlands-based cloud transformation specialist Motion10.

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