…whose new management team led by Filippo Mantegazza was trying to find a minority investor to inject some fresh equity.

After several months of discussion, the management of the group decided to take another option, and find a more radical solution with a majority investment of our funds in mid 2010. It took the form of a large cash injection in equity, which resolved in a sustainable manner the balance sheet issues, while setting a clear new governance to relaunch the growth.

A public tender had been bundled to the transaction, to provide liquidity to the market (without the intention to delist); the company remained listed until 2016, when a take private was organized.

Suddenly deleveraged, with a new management team and the support of a clear lead investor, the group effectively resumed growth, both organic and external, and expanded the reach of its very differentiated operational excellence consulting practice worldwide.

Stronger marketing has been put in place alongside a more structured sales strategy; considerable efforts were made on knowledge capitalization; a number of new countries were added; and in the last years a deep digital initiative has been launched, which allowed the group to market a very differentiated suite of digital offers – products with immediate impact for clients, not thick reports about business digitalization.

Finally, Filippo Mantegazza, willing to step back from the operational management, organized what he described as “the putsch against himself” and had a new management structure emerged, which led a secondary management buyout with Eurazeo PME in early 2019.

We wish them all a lot of success for the future… and will continue to work with their teams to help other portfolio companies to get stronger!

More information about the company www.efeso.com