Astorg's IQ-EQ buys Conseil Expertise & Synthèse

Astorg bought IQ-EQ, which was known as SGG, in September 2015 from Belgium-based Cobepa. The GP invested via Astorg V, which held a final close in April 2011 on its hard-cap of €1.05bn. The buyout was also backed by debt from BIL, Bank of Ireland, HSBC, Hayfin, ING, RBS and UniCredit.

IQ-EQ has now made a total of eight bolt-ons during the investment period, according to data from Unquote sister publication Mergermarket; most recently, it acquired US-based Blue River Partners in February 2020 and France-based Peru and Partners in July 2019.

Unquote sister publication Debtwire reported in March 2020 that IQ-EQ had secured a €50m senior term loan to finance one third of the purchase price for the acquisition of Blue River Partners from NatWest.

Company
Conseil Expertise & Synthèse provides accounting and auditing services for businesses. Its client base comprises SMEs, institutions and France-based subsidiaries of international corporates, as well as funds including Carlyle, Oaktree, Montagu, Tikehau and Cespa Capital. It has 25 employees according to its website and was founded in 1984. The Paris-based company generated revenues of €4.8m in 2019.

People
IQ-EQ – Mark Pesco (CEO).
Conseil Expertise & Synthèse – Jean-Noel Servans (CEO).
Astorg – François de Mitry (managing partner).

Advisers
Acquirer – EY (financial due diligence, tax).

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• Topics
• Portfolio management
• Benelux
• Support services
• Build-up
• Luxembourg
• Astorg Partners