Ardian takes 60% stake in Global Product Solutions

The transaction sees Ardian become GPS's new majority owner, leaving Assystem with a 40% stake.

Ardian invested in the group via Ardian LBO Fund V, which closed in the second half of last year with €4.5bn in commitments, including a €500m LP co-investment pocket.

GPS's management team will remain in place, Ardian said in a statement. Olivier Aldrin, formerly deputy CEO of the Altran group, will become chair of the management board after completion of the transaction.

GPS will now look to expand its geographical and sectorial reach, and will attempt to respond to its clients' requests to prioritise fewer suppliers with a more global offering, the company said in a statement.

Company
GPS specialises in product engineering and post-development services for industrial clients operating in the aerospace, automotive, transportation and manufacturing industries. In 2016, the entity had revenues of €578m, 59% of which stemmed from aerospace activities, 33% from automotive, and 8% from transportation and industry.

GPS is part of the larger entity Assystem, an international engineering and engineering consulting group listed on Euronext Paris, which employed 12,500 people and generated €956m in revenues last year.

People
Ardian – Lise Fauconnier (managing director, mid-cap buyout).
Assystem – Dominique Louis (chair).

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• Topics
• Buyouts
• France
• Industrials
• France
• Ardian (formerly Axa PE)