Paris (France) 3 September 2019 – Argos Wityu, European independent private equity group, today announced it has divested the Salvia Group to Total Specific Solutions (TSS). The Salvia Group is an Argos Fund VI portfolio company and includes Salvia Développement, Alteva and SRCI.
Salvia Group has a prominent position in the French software market with a comprehensive suite that addresses specific demands of public and private real estate professionals. The company provides its clients with expert solutions that meet the financial, project, maintenance and energy management as well as digitization needs of social landlords, real estate developers, property developers, facility managers, and local public authorities. Salvia Group offers its solutions on-premise as well as in the cloud.
Argos Wityu invested in Salvia in 2013, as part of a group of four companies sold by the Sage Group. Once independent, Salvia Group’s revenues almost doubled to reach €21 million in 2019. The company’s growth strategy has been focused on:
- Expansion of the product offer – 4 build-ups including the latest, Alteva, in 2018 enabled the company to expand its product offer to process digitization and property management.
- Organization – The operations of the company were completed following the Sage spin-off in 2013.
- R&D investments – Significant investments were made in R&D to fully revamp the historical product offer and always be better in addressing clients’ needs.
Françoise Farag, President of Salvia Group said “Argos Wityu has been an active partner at all the steps of our common path, starting with our accession to independence from the Sage Group, and has demonstrated a real knowledge of the challenges and specific nature of our business. I have been very pleased with this partnership and the confidence they have shown in us for more than six years. This new step with Total Specific Solutions will allow us to contribute to TSS’ French expansion, especially in the Public sector.”
Karel Kroupa, Partner at Argos Wityu, added: “Françoise Farag and the Salvia teams have done a remarkable job managing the group’s significant organic growth and the integration of external teams and businesses, while continuing to develop new products. We are confident that the future with Total Specific Solutions will allow the Salvia Group to continue its successful expansion.”
Argos Wityu – Karel Kroupa, Thomas Ribéreau, Shiv Ipour
Advisors
Bryan Garnier – M&A – Thibaut De Smedt, Jonathan Bohbot, Pierre Cuer
McDermott Will & Emery AARPI – Legal – Bertrand Delafaye, Mathilde Peschard
8Advisory – Finance – Fabien Thièblemont, Arnaud Bensaid
Arsene-Taxand – Tax – Franck Chaminade, Vincent Briand
Digital Value – Strategy – Arnaud De Baynast, Abdellah Moutaçalli, Romain Bury, Sacha Bellaiche
Argos Wityu
Coralie Cornet
Head of Communications
ccc@argos.fund
+33 6 14 38 33 37
About Salvia Group
Salvia Group is a vertical market software company with solutions for social housing, real estate and the public sector verticals. The Salvia Group develops comprehensive product offerings to address current and future market demand in specific vertical markets. The company serves more than 1,300 real estate companies (o.a. social housing companies, real estate developers, development corporations, and engineering firms) and over 2,500 government authorities (o.a. regions, departments, EFA, EPCI, municipalities, and public institutions) in the metropolitan territory and overseas. The Salvia Group headquarters are in Aubervilliers, France
For more information visit the website: www.salviadeveloppement.fr/en/home/
About Argos Wityu / www.argos.wityu.fund
Argos Wityu is an independent European investment fund that supports companies in the transfer of business ownership. It has assisted more than 80 entrepreneurs, focusing its investment strategy on complex transactions with emphasis on transformation, growth, and close collaboration with management teams. Argos Wityu seeks to acquire majority interests and invest between €10m and €100m with each transaction. With more than €1bn under management and 30 years of experience, Argos Wityu operates from offices in Brussels, Frankfurt, Geneva, Luxembourg, Milan and Paris.
