The Altran Technologies Company plans to proceed with a capital increase with preferential subscription rights up to a maximum amount of ¤130 million, which is expected to be completed before 31 July 2008.
The Funds (1) managed by Apax Partners SA have committed to subscribing for new shares that are unsubscribed by existing shareholders through the exercise of their preferential subscription rights, at an issue price per share amounting to between ¤5 and ¤6.
A prospectus will be drawn up for approval by the French securities regulator, the Autorité des Marchés Financiers, prior to the transaction.
The Apax Funds have concluded an agreement with Messrs Alexis Kniazeff and Hubert Martigny, the founding shareholders of Altran Technologies, under which, subject to the launching of the capital increase, the founders agree to:
- sell 6 million shares of the Company, representing 5,1% of the issued capital, to the Apax Funds;
- transfer to the Apax Funds all the preferential subscription rights attached to their remaining shares;
- contribute all the voting rights attached to their remaining shares to a partnership (Société En Participation) that Apax Partners will manage and represent at the General Meetings for an initial period of 6 years.
At the next General Meeting of the Company, the shareholders shall be asked to approve the appointment of two additional members to the Supervisory Board representing the Apax Funds.
In conjunction with the new shareholding structure, Apax Partners and the Company will also seek to implement an investment mechanism for the key managers of the Company.
Yves de Chaisemartin, CEO of Altran Technologies, said: “This is very good transaction for our Group, which is in line with the objectives set 18 months ago. It will strengthen our share capital and give us the means to accelerate our development”.
Gilles Rigal, Partner at Apax Partners, said: “Altran has successfully implemented a major reorganisation which led to significant revenue and profitability gains in 2007. We are delighted to team up with the European leader in innovation consulting and to provide the Company with the resources it needs to embark on a new growth phase”.
(1) including Altamir Amboise
About Altran Technologies
Created in 1982, Altran is today the European leader in innovation consulting and operates in three complementary fields:
- technology and innovation consulting (accounting for nearly half the turnover),
- organisation and information systems consulting (a third of the turnover),
- strategy and management consulting.
In 2007, the Group’s turnover reached 1,591.4 million euros, including 57% outside France. It employs over 17,000 employees in 20 countries.
About Altamir Amboise
Altamir Amboise is a listed private equity company with around ¤500 million under management, targeting NAV per share growth in line with the top-performing private equity players.
Altamir Amboise co-invests with the funds managed by Apax Partners SA, a leading private equity firm with over 30 years of investing experience. It offers investors access to a diversified portfolio of fast-growing companies across Apax’ sectors of specialisation: Tech & Telecom, Retail & Consumer, Media, Healthcare, Business & Financial Services,
Altamir Amboise is a SCR (Société de Capital Risque) listed on Euronext Paris, Compartment B, ticker: LTA, ISIN: FR0000053837. For further information: www.altamir-amboise.fr
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