Argos Wityu sells Salvia Group to trade

Under Argos's ownership, the business bolted on four companies, and investments were made in R&D. Salvia's revenues have almost doubled since 2013.

The acquisition will help Total Specific Solutions to have a greater footprint in France, especially in the public sector.

The sale process saw both private equity funds and trade buyers bidding for the asset, Unquote understands. 

Previous funding 
Argos Wityu invested in four software-focused subsidiaries in France and Spain sold by Sage Group in 2013. The deal was worth a total consideration of €33.2m, with €27.2m payable in cash on completion, Unquote reported at the time.

The GP used its Argos Fund VI fund for the transaction; the fund closed on €400m in 2010.

Company
Founded in 2013 as a spinout from Sage, Salvia provides financial, project, maintenance, energy management and digitalisation services for social landlords, real estate developers, property developers, facility managers and local public authorities. The business currently generates a €21m turnover.

With headquarters in Aubervilliers, Salvia also has offices in Chartes, La Varenne Saint-Hilaire, Lyon, Montpellier and Tours. It employs 160 people.

People
Salvia Group – Françoise Farag (president).
Argos Wityu – Karel Kroupa (partner).

Advisors
Vendor – Bryan Garnier, Thibaut De Smedt, Jonathan Bohbot, Pierre Cuer (M&A); McDermott Will & Emery, Bertrand Delafaye, Mathilde Peschard (legal); Eight Advisory, Fabien Thièblemont, Arnaud Bensaid (financial due diligence); Arsene Taxand, Franck Chaminade, Vincent Briand (tax); Digital Value, Arnaud De Baynast, Abdellah Moutaçalli, Romain Bury, Sacha Bellaiche (commercial due diligence).

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