• Home
  •  
    Regions
    • Europe
    • UK & Ireland
    • DACH
    • Nordic
    • France
    • Southern Europe
    • Benelux
    • CEE
    • Asia
  •  
    Deals
    • Buyouts
    • Venture
    • Exits
    • Refinancings
    • Build-up
    • Turnaround
    • Secondaries
    • Advanced deals search
  •  
    Funds
    • Buyout
    • Venture
    • Mezzanine
    • Debt
    • Funds-of-funds
    • Secondaries
    • Fundraising pipelines
    • Advanced funds search
  •  
    GPs & LPs
    • GP profiles
    • LP profiles
    • GP news
    • LP news
    • Sponsors search
    • LPs search
  •  
    Secondaries
    • Deals
    • Funds
    • News
    • Analysis
  •  
    People
    • People moves
    • Analysis
    • In Profile
    • Q&A
    • Videos
    • Comment
  •  
    Analysis
    • In Profile
    • Fundraising
    • Q&A
    • Comment
    • Videos
    • Podcast
    • Reports
    • Data Snapshots
  •  
    Unquote Data
    • Deals search
    • Exits search
    • Funds search
    • Sponsors search
    • Advisers search
    • LPs search
    • League tables
    • Reports
  • Sign in
  • Sign in
    • You are currently accessing unquote.com via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0)203 741 1137

      Email: Georgina.Lawson@acuris.com

      • Sign in
     
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • Twitter
    • LinkedIn
  • Free Trial
  • Subscribe
Unquote
Unquote
  • Home
  • Regions
  • Deals
  • Funds
  • GPs & LPs
  • Secondaries
  • People
  • Analysis
  • Unquote Data
  • You are currently accessing unquote.com via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0)203 741 1137

    Email: Georgina.Lawson@acuris.com

    • Sign in
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
Unquote
  • Exits

Oakley to combine Grupo Primavera with Silver Lake’s Cegid

  • Wahida Ahmed
  • 27 July 2022
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  

Oakley Capital has agreed to combine business software provider Grupo Primavera with Cegid, a French cloud management solutions provider controlled by Silver Lake, in a deal that values the combined group at EUR 6.8bn.

The transaction will see Oakley Capital Fund III increase its stake in Madrid-headquartered Grupo Primavera and roll over its equity into Cegid, according to a press release. Oakley Capital become a minority shareholder in the combined company alongside Cegid’s investors KKR and AltaOne. Oakley Capital will receive shares in the new business worth approximately EUR 500m, according to a source familiar.

The consortium of investors will work with Cegid CEO Pascal Houillon, Grupo Primavera CEO Santiago Solanas, and the rest of the management team, according to a press release.

  • DEAL:

    Partial exit; portfolio management

  • LOCATION:

    Madrid

  • SECTOR:

    Software

  • FOUNDED:

    2021

  • STAFF:

    800

  • VENDOR:

    Oakley Capital

The combination establishes Cegid’s leadership in Iberia and allows Grupo Primavera to leverage Cegid’s presence in Latin America to expand. The combined group will have pro forma revenues in the Iberia region of more than EUR 150m this year.

Cegid, a global leading provider of cloud business management solutions, has a strong foothold in countries including France, Portugal, Spain and is present in 12 other countries selling in more than 130 countries.

In December 2021, Mergermarket reported that Cegid’s owners could pursue a mid-term IPO.

Oakley Capital invested in the group via Oakley Capital Private Equity III, which held a final close on EUR 800m in September 2017. The fund targets mid-market companies with an enterprise value of EUR 60-300m in western Europe, according to Unquote Data.

The sponsor acquired Ekon is 2019 as standalone platform, which went on to snap up another 11 companies, including Pimavera Business Software Solutions in June 2021 to form Group Primavera.

Cegid was taken private in 2016 by Silver Lake and AltaOne in a EUR 580m deal. In June 2021, KKR acquired a minority stake in Cegid, in a deal that valued the company at EUR 5.5bn, according to Unquote Data.

Founded in 1983, Lyon-based Cegid provides cloud business management solutions for finance, human resources, retail and entrepreneurial sectors, among others. It has 3,600 staff across 15 countries, according to its website. It has 350,000 clients and posted revenues of EUR 632m in 2021, according to the press release.

Oakley Capital declined to comment.

Company
Grupo Primavera has 800 employees across five countries and posted revenues of EUR 76m in 2021. The company provides cloud-based software solutions to 165,000 customers. It offers invoicing, accounting, and enterprise resource planning to small businesses and mid-market segments across Spain, Portugal, and Africa.

People
Oakley Capital – Peter Dubens (partner).
Silver Lake – Christian Lucas (co-head, EMEA; vice-chairman of the board of directors).
KKR – Jean-Pierre Saad (partner).
AltaOne Capital – Shahriar Tadjbakhsh (managing partner).
Grupo Primavera – Santiago Solanas (CEO).
Cegid – Pascal Houillon (CEO).

Advisers
Vendor (Oakley Capital) – Paul Hastings (legal)

 

[Editor's note: The article has been updated post publication to add legal advisory details for the vendor.]

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  
  • Topics
  • Exits
  • Portfolio management
  • Technology
  • France
  • Southern Europe
  • France
  • Silver Lake - London
  • KKR
  • Oakley Capital

More on Exits

Influencers and social media
Inflexion sells The Goat Agency to trade, nets 80% IRR

GP sells minority stake in UK-based social media marketing agency after two year investment period

  • Exits
  • 22 March 2023
Auction houses and open sales processes
Lenders sway fate of auctions in volatile LBO market

Vendors increasingly sounding out lenders before bidders to navigate uncertain M&A landscape

  • Exits
  • 20 March 2023
Wheelchairs and other mobility products
Nordic picks Jefferies for upcoming Sunrise Medical auction

German wheelchair specialist was acquired in 2015 and moved to a continuation fund in 2018

  • Exits
  • 17 March 2023
Albert Farrant of Inspirit
GP Profile: Inspirit anticipates carve-outs uptick with fundraising on the horizon by year-end

Complex carve-outs specialist could raise around GBP 75m for its second fund with debut vehicle around 70% deployed

  • Exits
  • 17 March 2023

Latest News

Andy Gregory of BGF
  • GPs
GP Profile: BGF to deploy GBP 500m-plus per year for minority growth deals with entrepreneurs

UK and Ireland-based growth investor remains committed to filling a market gap for founders who want flexibility and control

  • 23 March 2023
Credit Suisse Headquarters building and UBS building to the left Paradeplatz Bahnhofstrasse Zurich
  • Industry
European sponsors sidestep panic, concede gloom over bank woes

Fallout from Credit Suisse collapse adds to slew of macroeconomic challenges for PE dealmaking and fundraising

  • 22 March 2023
Influencers and social media
  • Exits
Inflexion sells The Goat Agency to trade, nets 80% IRR

GP sells minority stake in UK-based social media marketing agency after two year investment period

  • 22 March 2023
Online learning courses
  • Buyouts
Synova kicks off new fund deployment with Learnlight acquisition

Investment in Spanish edtech platform is the first from GBP 875m vehicle raised in three months last year

  • 22 March 2023
Back to Top

Most read

Andy Gregory of BGF
GP Profile: BGF to deploy GBP 500m-plus per year for minority growth deals with entrepreneurs
Credit Suisse Headquarters building and UBS building to the left Paradeplatz Bahnhofstrasse Zurich
European sponsors sidestep panic, concede gloom over bank woes
Influencers and social media
Inflexion sells The Goat Agency to trade, nets 80% IRR
Online learning courses
Synova kicks off new fund deployment with Learnlight acquisition
Marek Moravec of Nation 1
Nation 1 launches new early-stage, EUR 35m-EUR 40m fund
  • About Unquote
  • Advertise
  • Contacts
  • About Acuris
  • Terms of Use
  • Privacy Policy
  • Group Disclaimer
  • Twitter
  • LinkedIn

© Merger Market

© Mergermarket Limited, 10 Queen Street Place, London EC4R 1BE - Company registration number 03879547

Digital publisher of the year 2010 & 2013

Digital publisher of the year 2010 & 2013