Apax secures minority stake in Hifield Group

Apax secured a minority stake, investing via its Apax Development Fund. The vehicle held a final close on EUR 255m in January 2020 and invests in French SMEs with a valuation of up to EUR 100m. It will build a portfolio of around 10 investments, providing tickets in the EUR 15m-50m range, backing companies related to the TMT, consumer, healthcare and services sectors. The fund supports businesses in their digital transformation, market consolidation and international expansion.

LCL provided debt facilities for the transaction.

Hifield said it would now aim to scale up growth with the development of its services and product offering. It is also looking to expand its sector offering and extend its geographical footprint, organically or via targeted acquisitions.

Company
Hifield operates via its subsidiaries Almond and Rampar. It provides cybersecurity, cloud and infrastructure services, with offices in Paris, Nantes, Strasbourg and Geneva.

The group has almost 250 employees and is targeting 2021 sales of more than EUR 40m, according to a statement.

People
Apax Partners – Isabelle Hermetet, Bérenger Mistral (partners); Thibaut Bourlet (senior associate).

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• Topics
• Expansion
• France
• Technology
• Apax France SA
• Minority investing