AXA Private Equity has today acquired 15% of the capital of The Cegos Group, a European leader in vocational training services and one of the very first global operators in the sector. At the same time, Cegos’s management has decided to undertake a secondary LMBO (leveraged management buyout), following the success of its first LMBO in 2005.
This investment is completed alongside historical shareholders including the management (more than 120 associate managers), a large number of employees and Cegos Association, the Group’s historical shareholder.
Jacques Coquerel, President of the Cegos Group, said:
“With this collaboration we demonstrate our intention to continue our growth strategy which has always been based on collective commitment and innovation. In becoming a stakeholder, AXA Private Equity will support the implementation of this strategy and reinforce our capacity to invest internationally. Such expansion will help us guide companies in their reflection on training and the use of new learning methods.”
The investment is the ninth for AXA Private Equity’s Expansion II fund. It marks the firm’s continued focus on injecting equity and using limited leverage to grow companies backed by strong employee commitment.
François Jerphagnon, Managing Director, AXA Private Equity, added:
“We are delighted to be accompanying Cegos in its growth strategy. Its leadership, solid employee commitment to the development plan, and the significant training needs of its clients constitute valuable advantages which will allow the Group to pursue its expansion, both in France and internationally. Our international network and experience of working with growing companies will be key to Cegos in the coming years.”
About Cegos
Cegos was set up in 1926, and is now an international leading player in professional training. In 2008, the company generated revenues of € 195.5 million. Its consultants have expertise in all areas of management and skills development, including human resources, management and leadership, performance and organisation, individual and collective effectiveness, sales and marketing, project management and the deployment of large-scale training systems in France and abroad. In 2008, Cegos provided training to more than 200,000 people worldwide. Cegos operates from 30 countries and employs a staff of 1200.
Cegos, accélérateur de réussite
www.cegos.com
About AXA Private Equity
AXA Private Equity, an AXA Investment Managers company, is a leading private equity firm with US$25 billion in managed assets and a global reach extending across Europe, North America and Asia. The firm offers investors the full spectrum of private equity services for every market segment: direct funds, infrastructure financing, mid cap and small cap buyouts, venture capital, co-investments, fund of funds as well as mezzanine financing.
With offices in Paris, Frankfurt, London, New York, Singapore, Milan, Zurich and Vienna, AXA Private Equity supports the development and long‐term growth of its portfolio companies with sustainable growth strategies and by granting them access to the AXA international network. AXA Private Equity has earned the trust of its investors by regularly supplying them with transparent performance data on its funds and portfolio companies.
AXA Private Equity, Global Investments the European way
www.axaprivateequity.com
Deal/Advisory teams
Cegos:
Legal: CMS Bureau Francis Lefebvre (Bruno Peillon, Jean-Robert Bousquet)
Legal (bank): Latham & Watkins (Xavier Farde, Lionel Dechmann)
AXA Private Equity:
Legal: De Pardieu Brocas Maffei (Jean-François Pourdieu, Thibaut Caharel)
Commercial diligence : Estin (Quentin Jacquemart)
Financial / Tax diligence: Ernst&Young (Philippe Serzec, Renaud Regner, Nathalie Pagnon)
Social and legal diligence : De Pardieu Brocas Maffei (Jean-François Pourdieu, Thibaut Caharel)
Bank Advisers:
CIC: Jérôme Salmon, Camille Lagarde, Marion Faye
BNP : Isabelle Guillaumet
LCL : Valérie de La Ménardière
Neuflize OBC : Jérôme d’Aligny
Barclays : Ludovic Dedieu
Société Générale : Cyril-Henri Prevost
Legal : Linklaters (Arnaud Fromion)
Press Contacts
AXA Private Equity:
HeadLand
Maria Shum
mshum@headlandconsultancy.co.uk
Tel: +44(0)20 7367 5227
Daniel Kahn
dkahn@headlandconsultancy.co.uk
Tel: +44(0)20 7367 5227
Cegos:
Alexandra Cavanna
acavanna@cegos.fr
Tel: +33 (0)1 55 00 92 15
Jérôme Aubry
jaubry@cegos.fr
Tel: +33 (0)1 55 00 96 64