Carvest backs MBO of consultancy Algoé

The management, previously a majority owner, will retain a significant majority stake in the business. Some employees also invested for a minority stake, Unquote understands. 

Algoé had been under CIC's ownership since the mid-1980s.

Carvest is the PE arm of several regional branches of Crédit Agricole. It has assets under management of around €250m and the group is managing 135 portfolio companies, a spokesperson for the firm confirmed. It typically acquires minority stakes.

Company
With roots dating back to 1959, Algoé is a consultancy firm based in Ecully, providing operational performance, project and programme management, and human resources services.

The business currently generates a turnover of around €25m, employing a workforce of 200.  

People
Crédit Agricole Régions Investissement – Nicolas Ravachol (investment director).

Advisers
Equity – Aequifi, Nicolas Pesson (corporate finance); Lamartine Conseil, Cédric Sapède (legal).

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