Argos Wityu proceeds with buyout of Sword's French operations

Update (30 September 2020): following a period of exclusive negotiations, Sword Group announced in a statement that a finalised agreement was signed on 29 September.

The two parties entered exclusive negotiations in late July this year.

The deal comprises the company's France-based service operations, as well as the firm's international software activities for the national trademark and patent offices.

The GP is currently deploying equity from Euroknights VII, which held a final close in November 2017 on €520m. The fund writes equity cheques of €10-100m, generally focusing on small-cap and mid-market buyouts.

Company
Sword Group provides computer engineering and software consultancy services for businesses. The French operations are based in Paris, with additional offices in Lyon and Rennes. Sword was founded in 2000.

The French operations currently generate revenues of €60m, according to a statement from Argos Wityu. According to its 2019 annual report, the services portion of its French operations generated €47.9m in revenues and €6.1m in EBITDA, compared with €41.4m in sales and €5.6m of EBITDA in the previous year. The France-based operations saw total growth of 15.7%, according to the same report. The group reported revenues of €213.2m as a whole in 2019.

People
Argos Wityu – Louis Godron, Karel Kroupa, Gilles Lorang (managing partners).
Sword Group – Jacques Mottard (CEO).

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