Ardian sells Cegos stake

Ardian (then Axa Private Equity) acquired a 15% stake in Cegos Group in 2009. The deal was part of a management-led secondary buyout involving 120 managers, a large number of employees as well as existing shareholder Cegos Association. Cegos's initial sponsorless buyout took place in 2005.

With Ardian's backing, the group saw its headcount stay stable at 1,200 staff. The company however posted a €166m turnover in 2013, against €200m at the time of Ardian's investment. The GP noted that the company was able to accelerate its development in Asia in that time-frame.

Company
Cegos is a vocational training services company. The firm was founded in 1926 and offers services in the field of human resources, management and leadership, performance and organisation, individual and collective effectiveness, sales and marketing, and project management.

People
François Jerphagnon, Marie Arnaud-Battandier and Caroline Pihan worked on the deal for Ardian.

Advisers
Equity - De Pardieu Brocas Maffei, Jean-François Pourdieu (Legal).
Company - CMS Bureau Francis Lefebvre, Bruno Peillon (Legal).

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• Ardian (formerly Axa PE)