Argos Wityu announces the signing of a binding agreement for the divestment of its majority stake in Bip (Business Integration Partner) to Apax Partners

Argos Wityu announces the signing of a binding agreement for the divestment of its majority stake in Bip (Business Integration Partner) to Apax Partners

Milan, 15 March 2018 – ARGOS WITYU announces its fourth exit, out of 15 investments of Euroknights VI, Argos Wityu’s fund raised in 2011.

The funds managed by Argos Wityu had completed the acquisition of a controlling stake of BIP through a full equity transaction in May 2014, alongside with a dozen of key managers, led by Mr. Lo Bianco, Mr. Troiani and Mr. Capè.

Under the funds’ ownership, BIP has seen a strong development and achieved significant growth fuelled by focussing on key segments of the business (Telco, Media, Utilities, Pharma and PA), strong innovation and a continuous market expansion. During Argos Wityu ownership, the number of Equity partners grew to 18, the company entered new markets (UK, Turkey, Colombia, Chile, US, Arab Emirates and Belgium) and X-Science hub was created, mainly thanks to the acquisitions and merge of Cybersec, Ars et Inventio, Openknowledge, Sketchin and Artax, in the digital and sales transformation fields.

From €75 million revenues and 900 employees in 2013, Bip grew to  €160 million revenues and 1800 employees today.

Mirco Dilda, Partner, Argos Wityu, said: « Argos is proud to have shared four challenging years of transformation and growth, together with a very dynamic management team. The goal at entry was to help the company in developing faster the foreign markets and entering new sectors. The achieved results in terms of geographies, new add-ons and net sales are the tangible proofs of a reliable and truly supportive partner.»

Argos Wityu: Mirco Dilda (Partner), Emiliano Tonelli (Investment Manager), Federica Ferretti (Associate)

Advisors:

Seller – Legal: Studio Legale Gatti Pavesi Bianchi (Valerio, Coghe); Tax: BDO (Lentz); Structuring: Loesch & Associates (Loesch); M&A: Equita Sim (Riviera, Poletto)

Management – Legal: Studio Legale Gatti Pavesi Bianchi (Valerio, Magnani, Coghe) e Lodovico Bianchi di Giulio – Fiscal: Ludovici Piccone & Partners (Ludovici, Conidi, Pica)

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