Ardian et al. sell Consort NT back to management
Ardian, Naxicap Partners and Apax France have sold their minority stakes in digital services company Consort NT to the management team, led by Jason Guez.
Consort president Jason Guez is currently the majority shareholder of the company.
Under the GPs' ownership, Consort increased its turnover fivefold, and grew from 400 to more than 2,000 employees. The business improved its market position by developing a dedicated "applications" branch, and through the acquisition of data consultancy Estia and software consultancy Altea in 2016.
The latest LBO of Consort in 2012 saw EPF investing in the business. However, about a year ago, EPF was absorbed by Apax France, which has managed the investment since then.
Previous funding
Ardian (then Axa Private Equity) first invested €2.3m in 2002 to secure a 13.2% stake in Consort. It was joined by Naxicap in 2008 to back the company's €30.8m take-private. The GPs acquired a joint 40% stake, with the remainder held by management.
In 2012, EPF joined existing investors Ardian and Naxicap Partners in the secondary buyout of Consort NT. EPF invested via the EPF IV fund.
The 2012 deal valued Consort at €60m. Management, which already held a majority stake in the business, increased its shareholding to 70%, with president Jason Guez alone holding a majority stake in the business. Previous backers Ardian and Naxicap reinvested "significantly" in the SBO.
Company
Founded in 1992, Consort is a Paris-headquartered digital services companies, specialising in data and digital infrastructure. The company designs, operates and maintains technological products addressing its customers' businesses, computing and storage capacities, and interactions with banks, insurance companies and telecoms operators.
Consort generates around €150m in sales and employs 2,200 people based in France, Belgium, Germany, Luxembourg and Morocco.
People
Consort NT – Jason Guez (president); Elie Cohen (CEO); Stephan Mardel (CFO).
Ardian Growth – Laurent Foata (head of Ardian growth).
Naxicap Partners – Alban Sarie (investment director).
Apax Partners Development – Raphaël Delmarre (CFO).
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