The funds managed by Apax Partners SA, together with Altamir Amboise, have just signed an agreement to acquire the Faceo group, a European specialist in Facility Management, from its joint shareholders Cegelec and Thales.
The transaction, conducted in association with the management team of Faceo, should be closed in the coming weeks. It is financed through equity, along with senior debt arranged by Société Générale and mezzanine debt from Indigo.
Created in 2000, Faceo has become in a few years a leading European player in Facility Management. As a global player, the group covers a wide range of activities based around real estate services and soft and hard services (including cleaning, maintenance, gardening, remote monitoring, document management, reception, property management, etc.).
The Faceo group attends to the needs of more than 130,000 European users and is reputed for the quality of its client portfolio including, beside Thales and Cegelec, AGF, Alcatel, Areva, EADS, France Telecom, General Electric, Nestlé, PSA, Sanofi-Aventis, Siemens and the Quai Branly Museum - to name but a few.
Present in France, Great Britain, Germany, Austria, Italy, Switzerland and the Benelux countries, the Faceo group has 1,533 employees. In 2006, its turnover amounted to ¤349 million, up by 10% compared to 2005.
"We are pleased to have found a partner specialising in the business services sector, which will provide us with the benefit of its expertise and its experience as a corporate developer. Thanks to the support of Apax Partners, we will be in a position to see through an ambitious development programme and grasp the best opportunities in terms of acquisitions, be they in France or in Europe to reach critical size," declare Serge Clemente and Serge Delon, co-managers of Faceo.
"Facility Management is a market undergoing rapid growth. Faceo has all the key skills and know-how to impose itself as one of the European leaders in this market, owing to the scope and flexibility of its services, its top-class client portfolio and the quality of its teams," states Monique Cohen, Partner at Apax Partners.
Bernard Lemoine, Business President, Cegelec Global Systems & Services (GSS), explained: "Cegelec wanted to divest its stake in a company whose business was not core to its own strategic focus on designing and delivering technological services. In this way, we could give Faceo more freedom to pursue its growth. We wish all of Faceo's teams and management the very best of success in their new endeavour as an LMBO. This transaction has broadened our room to manoeuvre in making new acquisitions."
"Thales is pleased to have accompanied Faceo until its maturity, allowing it to start a new phase of its development. Thales and Faceo will continue to cooperate for the benefit of their major customers, to whom Thales will bring its expertise in security systems and equipment", said Jean-Paul Lepeytre, Senior Vice President of Thales's Security Solutions and Services activities.
About Altamir Amboise
Altamir Amboise is a listed company that co-invests with the private equity funds managed by Apax Partners SA.
Altamir Amboise leverages Apax Partners' know how and investment strategy, which consists in investing in fast-growing companies across its sectors of specialization: Tech & Telecom, Retail & Consumer, Media, Healthcare, Business & Financial Services.
Altamir Amboise is a SCR (Société de Capital Risque) listed on the Euronext Paris Eurolist market, Compartment B, ISIN code: FR0000053837, ticker: LTA
For further information: www.altamir-amboise.fr
Agathe Heinrich - Marketing Director
Tel: +33 1 53 65 01 35
Marie Ployart - Financial Communication
Tel: + 33 1 53 65 01 33
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