Ardian acquires a majority stake in Trustteam from Naxicap

By on November 6, 2018

Ardian, a world-leading private investment house, today announces the acquisition from Naxicap of a majority stake in Trustteam, an integrated one-stop-shop ICT (Information & Communication Technology) provider for SMEs based in Courtrai, Belgium.

Founded in 2002 by its current CEO, Stijn Vandeputte, Trustteam offers a broad range of IT outsourcing solutions for SMEs, which includes infrastructure, datacenters, cybersecurity, communications, software and maintenance services. The Company, which has a wide customer base of around 1,500 clients, supports SMEs which have limited internal IT capabilities by acting as a trustworthy and reliable partner to run their IT systems. Thanks to the high efficiency of its operational staff, Trustteam has built a strong reputation for delivering high-quality services and has developed long-lasting relationships with its clients.

The Company has established a strong track record of growth and profitability since its creation, expanding through a combination of both organic and external growth with eight acquisitions completed over the past 10 years to extend its product portfolio and client base. Alongside Ardian, the Company aims to actively pursue and strengthen its Buy-and-build strategy, notably in cross-border countries such as France.

Stijn Vandeputte, CEO & Founder of Trustteam said: “Ever since our creation, Trustteam has been focusing on delivering exceptional client service, which has enabled us to have a robust growth. After the great journey with Naxicap, we are now very excited to continue our successful growth path together with Ardian. Ardian has a proven track record of developing companies and can support our further expansion both in Benelux and in France, notably through acquisitions.”

Arnaud Dufer, Head of Ardian Expansion France, added: “We have been impressed by Trustteam’s track record  and ambition to consolidate the business both in Belgium and in France. Indeed, Trustteam operates in a highly fragmented market which presents a number of build-up opportunities. The transaction fits perfectly with the investment strategy of Ardian Expansion which has a strong expertise in the implementation of ambitious Buy-and-Build strategies.”

Axel Bernia, Board Member of Naxicap Partners said: “It is with pride that we have supported Trustteam’s management in accelerating the company growth during the last four years. Trustteam has developed a high quality and efficient set of services that we helped to extend through acquisitions, and that we believe constitutes a robust platform for future growth. The company has reported a substantial revenue increase over the period, thereby consolidating its position as leader in the SME-oriented ICT sector. The arrival of a recognized shareholder such as Ardian demonstrates the quality of the project.”

LIST OF PARTICIPANTS

ARDIAN
Ardian Expansion: Arnaud Dufer, Maxime Séquier, Arthur de Salins, Romain Gautron, Claire d’Esquerre
Legal advisor: Laurius (David Ryckaert, Arnaud Vanitterbeek, Koen Van Cauter)
Commercial Due Diligence: Ernst & Young Parthenon (Etienne Costes, Hugo Den Breejen)
Financial, Tax, Social, IT Due Diligences and tax memo: Ernst & Young (Marc Guns, Roelant Bibbe, Cédric Van Damme, Nick Van Gils, Tim Cypers)
Insurance Due Diligence: Marsh (Jean-Marie Dargaignaratz, Denis Van Der Elst)

NAXICAP PARTNERS
Naxicap Partners: Axel Bernia, Zeineb Slimane, Gwendoline Lafarge
M&A advisor: Kumulus Partners (Henk Vivile, Bart Collier)
Legal Advisor: Stibbe (Dries Hommez)
Financial, Tax, Social and ESG Due Diligences: Deloitte (Philippe Serzec, Anthony Vinckier, Stijn Dingenen)

FINANCING
KBC (Jan Serneels)
ING (Karen De Vits)
Banks’ Legal Advisor: Jones Day (Laurent Vercauteren)
Trustteam’s Legal Advisor: Simont Braun (Vanessa Marquette)


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