Azulis Capital carves out Cegid Public

The division is responsible for the majority of Cegid's turnover, according to a press release by the firm. The current management team of the division will acquire a stake in the business.  

Azulis is currently investing via its Middle Market Fund V, closed on €215m in Q2 2017. The vehicle targets businesses with enterprise values of €15-150m, providing equity tickets of €10-15m.

Company
Founded in 1983 and based in Paris, Cegid is a business management software firm that provides services related to accounting, tax, payroll and human resources, among others. Cegid has 2,400 employees and is active in 75 countries. It achieved a turnover of €401m in 2018. 

Cegid Public specialises in the digitalisation of public sector services. The business helps reduce costs and improves customer service, according to its website.

People
Cegid – Laurent Leenhardt (director).
Azulis Capital – Nicolas Cosson (managing director).

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