Paris, the 09 january 2012
Crédit Agricole Private Equity is working with Exclusive
Networks on the acquisition of German company TLK. The
acquisition is financed primarily by means of a capital
increase subscribed by all shareholders. This is the second
acquisition carried out by the company in 2011.
The Exclusive Networks Group, based in Boulogne-Billancourt
(Hauts-de-Seine), is one of Europe's leading
value-added distributors (VAD) specialising in the
marketing of security, storage and networking solutions for
businesses.
Crédit Agricole Private Equity acquired a stake in the
company in July 2010 during a primary LBO and owns 69%
alongside the Chief Executive Officer, key managers, Edmond
de Rothschild Investment Partners and Socadif. In June
2011, Crédit Agricole Private Equity worked with Exclusive
Networks on the takeover of Vadition in the United
Kingdom.
This latest acquisition will enable Exclusive Networks to
establish its position in Germany, Europe's largest market
after the United Kingdom, and diversify its portfolio of
suppliers.
TLK is a security solutions VAD with the most similar
profile to Exclusive Networks. Its positioning is based on
marketing innovative products coupled with high-end
technical services. It is expected to generate revenues of
€38.4 million in 2011.
IT security is a fast-growing market in Europe, presenting
growth of 8% a year, driven by the development of new
technologies such as cloud computing and mobile services
and changes in legislation requiring companies to secure
their data.
Olivier Breittmayer, Chairman and Chief Executive Officer
of the Group, states: "The acquisition is a key milestone
in a long-term strategy by Exclusive Networks Group to
create the first ever major, pan-European Value
Adding Distribution business with the skills,
relationships and commitment to high-margin, disruptive
technologies typically found only among nationally focussed
specialist distributors. Exclusive Networks now operates in
13 countries. The group generated revenues of €182 million
in 2011 and is aiming for €270 million in 2012."
Philippe Zurawski, Director at Crédit Agricole Private
Equity, comments: "This is the company's second major
acquisition. This strategy of targeted acquisitions should
enable it to achieve the target set in 2010 of trebling in
size in the space of five years."
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