French private equity fund Apax Partners has clinched a deal to buy a majority stake in Italian consultancy Business Integration Partners (BIP) for more than 200 million euros ($248 million), a source familiar with the matter told Reuters.

Founded in 2003, Milan-based BIP provides management consulting and business integration services and has been backed by European buyout fund Argos Soditic since 2014.

Argos has now decided to sell its stake, the source said.

READ FULL ARTICLE HERE