Apax and Altamir to sell stakes in Altran to trade

The deal brings to an end an 11-year holding period for the vendors, and values the enterprise at €3.6bn, excluding debt.

Under the GPs' ownership, the company established a presence in the US market, partly via the 2018 acquisition of Aricent for $2bn. The Aricent acquisition saw Apax and Altamir participate in a €750m capital increase.

The GPs also supported the business in the creation of its GlobalShore business division, which employs 17,500 people.

Capgemini is a consultancy, providing technology and digital transformation services to businesses. Headquartered in France, the group posted revenues of €13.2bn in 2018.

Previous funding
Apax committed to taking part in a €130m capital increase for Altran in 2008. 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 a stake of around 5.1%.

Two years ago, Apax France and Altamir sold a combined stake of around 8.4% as part of a €318m selldown. The total selldown comprised around 11.2% of the company's share capital.

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, strategy and management.

Based in Paris, the company employs approximately 47,000 people in 30 countries and generated around €3bn in revenues in 2018 (versus €1.65bn in 2007 at the time of the investment by Apax Partners and Altamir).

Its operating margin almost doubled over the course of 11 years, reaching 12.1% in 2018.

People
Apax Partners – Gilles Rigal (partner).

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