Apax and Altamir sell Altran share block

The total offering, which includes shares held by Altrafin (the holding through which Apax and Altamir are invested in Altran) and by Altran's founding shareholders, represents around 11.2% of the company's share capital, or 19.7 million shares. Altrafin's portion (8.4%) accounts for around 14.8 million of these.

The total consideration is worth around €318m, the GPs said, with a share price ranging between €14.90-15.25. It will be made by way of an accelerated bookbuilding involving institutional investors.

Following this transaction, Apax and Altamir will still hold around 14.8 million shares in Altran, representing 8.4% of the share capital. 

The sale is subject to a 90-day lock-up period.

Previous funding
In 2008, Apax committed to taking part in a €130m capital increase in Altran with a share price of around €5-6. Apax already held 5% of the company's shares, while La Financiere de l'Echiquier held 8%, and the founders 8.5% each. The deal saw Altran's founders sell 6 million shares, representing around 5.1% of the capital capital.

Altran simultanousely announced a €150m refinancing package from a syndicate of banks including BNP Paribas, Crédit Agricole Ile-de-France, Natixis and Societe Generale.

Company
Altran was founded in 1982 by Alexis Kniazeff and Hubert Martigny. It offers consultancy services in the fields of technology, innovation, organisation, information systems, and strategy and management.

Quoted on Euronext's B compartment, Altran posted €2.12bn in revenues in 2016. It employs 30,000 people in 20 countries.

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