Paris (France), 19 June 2017: Apax Partners and Altamir announce that they have sold the first block of their remaining stake in Gfi Informatique, a major European player in value-added IT services and software, to Mannai Corporation.
As announced in a press release on May 10, Apax Partners and Altamir, which hold c. 18.5% of the share capital and voting rights of Gfi Informatique, have completed the first sale of c. 12% of the share capital and voting rights. The balance of c. 6.5% of the share capital and voting rights will be sold in June 2018.
Gfi Informatique holds a strategic position in its differentiated approach to its clients, from global firms to niche entities. With its multi-specialist profile, the Group serves its customers with a unique combination of proximity, sector organisation and industrial-quality solutions. The Group currently employs c. 14,000 people.
The company’s revenue grew from €633 million in 2006 to €1,015 million in 2016, breaking through the billion-euro mark. Gfi Informatique’s growth strategy is based on three specific objectives: transformation of its business model, internationalisation and build-ups.
Transformation of its business model
Gfi Informatique has successfully managed the development of its model by industrialising its processes and know-how, particularly through the development of international service centres, allowing for both greater access to expertise and improved operational efficiency for the Group’s customers.
Gfi Informatique has refocused its international activities, strengthened its presence in Southern Europe and opened up to Eastern European markets. Today, international business represents 25% of the Group’s pro forma revenues.
Gfi Informatique has successfully acquired and integrated 20 companies since 2006, allowing it to enhance its range of services and expand abroad. The acquisitions of Roff and Efron in 2016 in particular allowed Gfi Informatique to double the size of its business in Iberia.
Vincent Rouaix, CEO of Gfi Informatique, said: “The Apax Partners teams were totally in line with our growth strategy from the beginning. Their specific knowledge of the ESN market allowed us to achieve the transformation of our business model and our geographic repositioning, and to invest in build-ups that were relevant and accretive for the Group.”
Gilles Rigal, Partner at Apax Partners, added: “We are proud to have supported the strong growth and successful transformation of Gfi Informatique, and to have forged solid relationships with a CEO and teams of such high quality”.
About Gfi Informatique
Gfi Informatique is a major player in value-added IT services and software in Europe, and through its differentiated approach occupies a strategic position between global firms and niche entities. With its multi-specialist profile, the Group serves its customers with a unique combination of proximity, sector organisation and industrial-quality solutions. The Group has around 14,000 employees and generated revenue of €1,015 million in 2016.
Gfi Informatique is listed on the Paris Euronext, NYSE Euronext (Compartment B) – ISIN Code:FR0004038099.
About Apax Partners
Apax Partners is a leading private equity firm in French-speaking countries in Europe. With more than 45 years of experience, Apax Partners provides long-term equity financing to build and strengthen world-class companies. Funds managed and advised by Apax Partners exceed €3 billion. These funds invest in fast-growing middle-market companies across four sectors of specialisation:
TMT: Altran, Gfi Informatique, InfoVista, Melita, Nowo-ONI and Vocalcom
Consumer: Europe Snacks, Groupe AFFLELOU, Groupe Royer, Sandaya, and THOM Europe (Histoire d’Or, Marc Orian, TrésOr, Stroili and Oro Vivo)
Healthcare: Amplitude Surgical
Services: Groupe INSEEC, Marlink and SK FireSafety
Altamir (Euronext Paris-B, LTA) is a listed private equity company with almost €800m in assets under management. The company invests via and with the funds managed or advised by Apax Partners France and Apax Partners LLP, two leading private equity firms in their respective markets. It provides access to a diversified portfolio of fast-growing companies across Apax’s sectors of specialisation (TMT, Retail & Consumer, Healthcare, Business & Financial Services) and in complementary market segments (mid-sized companies in French-speaking European countries and larger companies across Europe, North America and key emerging markets).