Cegid, a leading provider of business management software solutions, and KKR, one of the world’s leading global investment firms and one of the world’s leading technology and software investors, announced today that KKR will acquire a minority stake in the company with a business value of 5.5 billion euros. Silver Lake, a global leader in technology investments, will continue to be the majority shareholder and is committed to continuing to support Cegid’s growth strategy driven by the management team over the next few years, in collaboration with KKR and current shareholder AltaOne.
Founded in 1983 and headquartered in Lyon, France, Cegid is a leading provider of business software, offering cloud-based functional solutions (HCM, finance and tax) as well as verticals (CPA and SMEs, retailers). Cegid has been a pioneer of SaaS and today is a European leader in providing cloud-based solutions since its inception in 2004. Cegid provides cloud-based solutions to more than 350,000 companies and 4.5 million users in all the world. Since Silver Lake’s investment in 2016, the company has expanded its market leadership and experienced strong double-digit revenue and profit growth, driven by a focus on SaaS solutions, as well as strong investments in next-generation cloud products and acquisitions that increase value.
Pascal Houillon, CEO of Cegid, said: “We are very proud of what we have built over the years and the tremendous growth we have achieved. We have significantly expanded Cegid’s market reach geographically as well as our portfolio. of products and the range of customers we currently serve, who have relied on Cegid teams and our expanded capabilities. We have developed a robust suite of best-in-class cloud products across our six business segments , we have continually improved customer service and expanded our offering through strategic acquisitions to grow existing markets and enter new verticals. We look forward to continuing the close and trusted partnership we have formed with Silver Lake, which has supported us in our track record of creating value with its deep software experience and will continue to do so over the years. As we continue i Investing in innovative, useful and cloud-based solutions, we are delighted to welcome KKR as a new shareholder. We are convinced that your experience and support will be invaluable in the next stage of Cegid’s journey alongside our current investors serving the business goals of our clients today and in the future. “
Christian Lucas, Co-Head of Silver Lake EMEA, said: “Cegid has developed an exceptional software platform that provides a full range of mission-critical and world-class business management solutions across a wide variety of verticals and customer groups. focus on cloud and customer-based solutions have driven a strong growth trajectory. It continues to be a great pleasure to collaborate with Pascal and the entire Cegid management team with our investment. We look forward to helping Cegid’s continued development as a European Champion of cloud as a majority shareholder for the next few years and we are delighted to build on the newly formed partnership with KKR to build on our continued commitment. We are convinced that KKR will be able to bring a wealth of relevant experience to this path and we welcome you as new investors. “
Jean-Pierre Saad, EMEA CTO at KKR, and Jérôme Nommé, French Director at KKR, said: “We are very happy to be part of Cegid’s journey in the future. We have followed the company for many years and We have been impressed with the growth that Pascal and his team have achieved, transforming Cegid into a pan-European software leader. Today’s investment reflects our continued strategic focus on investing in leading European software companies and supporting technology champions French on their growth journeys. We look forward to partnering with the leadership team at Cegid, Silver Lake and AltaOne to further accelerate Cegid’s next phase of growth. “
KKR has made its investment through its Basic Investments strategy, which represents capital directed at long-term opportunities.
The transaction is expected to close at the end of the third quarter, subject to customary conditions and regulatory approvals. At the moment no other conditions of the investment have been disclosed.
Cegid is a leading provider of cloud business management solutions for finance (ERP, cash management, tax), payroll and talent management, CPA and retail professionals. With a proven track record of cloud management solutions, Cegid offers a long-term commitment to customers and helps digitize businesses, from small to large, from the private sector to the public. Cegid combines a proactive and pragmatic approach to business with experience in new technologies and a unique understanding of regulations. In a rapidly changing world, Cegid facilitates and helps clients unleash their potential with innovative and purposeful business solutions.
Cegid has 3,000 employees and markets its solutions in 75 countries. In 2020, the company’s turnover reached 498 million euros. Pascal Houillon has held the position of CEO since March 2017.
More information: www.cegid.com; http://jobs.cegid.com/
Follow Cegid on social media
About Silver Lake
Silver Lake is one of the world’s leading technology investment firms, with more than $ 83 billion in combined assets under management and committed capital, and a team of professionals based in North America, Europe and Asia. The companies in the Silver Lake portfolio collectively generate more than $ 196 billion in annual revenue and employ more than 448,000 people worldwide. For more information on Silver Lake and its portfolio, visit the Silver Lake website at www.silverlake.com.
KKR is a leading global investment firm offering alternative asset management, capital markets and insurance solutions. KKR’s goal is to generate attractive returns on investment through a patient and disciplined investment approach, by hiring top-notch employees, and by driving growth in its portfolio companies and communities. KKR sponsors mutual funds that invest in private equity, credit and real assets and has strategic partners who manage its hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance affiliates. For more information on KKR & Co. Inc. (NYSE: KKR), visit the KKR website at kkr.com and on Twitter @KR_Co.
The statement in the original language is the official and authorized version of the same. This translation is only a means of help and should be compared with the original language text, which is the only version of the text that will be legally valid.
View the original version at businesswire.com: https://www.businesswire.com/news/home/20210608005611/en/
Antoine Tredez / Mélanie Farge
+33 6 63 80 45 14 / + 33 7 63 13 42 10
Alastair Elwen / Nidaa Lone
+44 20 7251 3801