Argos Wityu concludes the acquisition of 4 subsidiaries of the software editor Sage
Paris, 2nd May, 2013 – Following the period of exclusivity begun last February, the Argos Wityu funds have completed the acquisition of 4 Sage subsidiaries which specialize in software edition for vertical markets, three in France and one in Spain.
The transaction consists of four simultaneous spin-off transactions in four MBO configurations alongside the team of each of the companies. Carried out without leverage, the aim is to accelerate growth.
Wishing to re-centre its strategy on its core business, the Sage Group, specialized in management software (ERP), has sold four units specializing in the development, sale and maintenance of business oriented management software:
- C&I, software intended for social housing organizations, local authorities and real estate developers which becomes Salvia Développement
- Activité Automobile, software for automobile dealers, the distribution networks and automobile repairers, which becomes I’Car Systems
- ATL, which will be known as Akanea Développement, and addressed the food industry sectors, transport, logistics and customs services
- Aytos, for administration resource planning and electronic administration for Spanish local authorities
Antoine Henry, Managing Director of Sage in France comments: « A new page is being written for Sage and for these units. I am pleased that this transaction will enable them to benefit from new means for developing and expanding, and I am proud that four entrepreneurs have risen from our ranks. After a number of years of collaboration, I am delighted to be able to count, in the future, on the Sage ecosystem, the ensemble of collaborators with whom we have worked closely. »
The transaction undertaken by Argos Wityu alongside the four teams will allow each entity to recover its autonomy, both strategic and operational and provide new momentum for attaining the development objectives which have been set. Argos Wityu aims at accelerating the growth of these activities, both by way of organic growth and through acquisitions.
Françoise Farag (Salvia Développement), Philippe Almouzni (I’Car Systems), Philippe Grassi (Akanea) and Juan-Miguel Aguilar (Aytos) comment: « This is a new step in the life of our enterprises which, together with our teams and our boards of directors, we tackle with plenty of enthusiasm and passion in the service of our clients. This opportunity permits us to enroll in a strategy of conquest and reinforcing of our positions in our respective markets, be they within our national territories or overseas. »
« We have been impressed by the quality of the teams, by their enthusiasm and their motivation for the project, and are happy to be able to accompany them in the development of their enterprises. By the complexity of the realization of these four simultaneous spin-off transactions, as well as by the emphasis put on growth, this project is a good illustration of the philosophy and know-how of Argos Wityu » adds Karel Kroupa, a Partner in Argos Wityu.
Argos Wityu – Karel Kroupa (Partner), Frédéric Quéru (Associate), Nicolas Trani (Associate)
Financial Audit : Ernst & Young – Pierre Jouanne and Gino Poggiali
Legal Audit : Marvell – Rémy Blain, Fabrice Bouquier and Monyvan Chan
Fiscal Audit : Arsène Taxand – Franck Chaminade and Emilie Foy
M&A : KPMG – Marc Wyatt, Guillaume Cauchoix, Nicolas Pirot
Legal : Allen & Overy – Alexandre Ancel, Frédérique Dugué and Sandra Clapaud
Legal Social : Actance – Loïc Touranchet, Elise Anisten
Legal & fiscal : McDermott Will & Emery AARPI – Bertrand Delafaye, Kamal Naffi, Estelle By, Antoine Vergnat et Emilie Renaud
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About Argos Wityu
Argos Wityu is an independent European private equity group with offices in Paris, Milan and Geneva.
Since its creation in 1989, Argos Wityu has carried out more than 50 transactions focusing on management buy-outs and buy-ins in small and medium sized companies.
Argos Sodtic typically takes majority stakes ranging from €5m to €50m in companies with revenues of €20m to €400m.
With €675m under management for MBO (€400m for the last fund), the firm has developed a track record of unusual, complex and off-market transactions where the firm’s combination of local presence and international experience is able to add value to the small and medium sized businesses it invests in.
This is the 4th acquisition for Fund VI. www.argos-soditic.com
Sage Group plc is a leading global provider of business management software to small and medium sized companies, creating greater freedom for them to succeed. Sage understands how and why each business is unique. We provide products and services that suit varying needs, are a pleasure to use and are secure and efficient. Formed in 1981, Sage was floated on the London Stock Exchange in 1989 and entered the FTSE 100 in 1999. Sage has over 6 million customers and more than 13,500 employees in 24 countries covering Europe, North America, South Africa, Australia, Asia and Brazil.
For further information please visit www.sage.com
Antoine Henry is CEO Sage France.