Astek raises new funds to accelerate growth and continue

MONTREAL, August 06, 2021 (GLOBE NEWSWIRE) – Astek today announced a new milestone in achieving its development goals with the signing of a € 200 million unitranche financing arranged by HIG WhiteHorse as well as the participation of the management team in the capital structure , alongside the founder and other directors. Access to these new resources will support its external growth plan and its targeted development policy.

A pioneer in the distinct approach of combining engineering (outsourced R&D) and digital technologies (information systems), Astek has been supporting companies in their major technological challenges for 30 years. These professions, which have become essential to effectively meet the challenges of customers’ digital transformation, are the driving force behind Astek’s growth dynamic. Beyond its strong organic growth, the group has made six targeted acquisitions(*) over the past two years, strengthening its global geographic footprint, expertise and service offering.

An effective financing mechanism to support its Ambition 2024 strategic plan, which calls for strong growth

While maintaining sustained and regular organic growth of more than 10% per year, Astek will accelerate its development in North America, Europe, the Middle East and Asia and be a leading player in the consolidation of the sector on these continents.

The year 2020 saw the consolidation of more than 270 million euros in turnover. The group is targeting a turnover of 360 million euros in 2021, intends to exceed the 500 million euros turnover mark by 2024 and maintain an EBITDA margin above 10%, in accordance with its Ambition 2024 strategic plan.

HIG WhiteHorse is the arranger of this Unitranche program, an attractive, flexible and tailor-made financing structure to effectively support Astek’s development. AXA IM Alts will also participate in this Unitranche show alongside HIG WhiteHorse.

This debt financing is coupled with access to the capital structure for managers, alongside the founder and other managers.

HIG WhiteHorse is the direct credit subsidiary of HIG Capital, a leading global alternative investment firm with $ 45 billion in assets under management, which has been an active investor since its inception in 1993, acquiring over 300 companies and providing capital to many growing companies. The issuance of this unitranche financing is fully in line with HIG WhiteHorse’s priorities to support growing companies in their efforts to achieve their objectives.

Thanks to the trust and investment of these two prestigious partners, Astek will continue its unprecedented momentum and quickly achieve its billion dollar turnover target, thereby consolidating its position as a key player in Europe. ‘East, in Canada and France,” noted Jean-Luc Bernard, Founder and Chairman of the Supervisory Board of Astek.

“I would like to thank HIG and AXA for their confidence in helping us to take this new step in the development of Astek. Our ambitions for 2024 and beyond are very strong, with a target of one billion euros in turnover. They demonstrate the relevance of our unique positioning in attractive markets. With the skills and commitment of our teams, we intend to continue this dynamic, driven by our ability to innovate and support our customers in their digitalization efforts. noted Julien Gavaldon, Managing Director of Astek.

“Astek has grown considerably in recent years, including in 2020, despite the Covid-19 crisis. Today, Astek is well positioned in a market with strong growth prospects, driven by a growing need for companies to digitize and a fragmented market that continues to consolidate. We are delighted to contribute to the future success of this group with our tailor-made financing ”, commented Pascal Meysson, Head of HIG WhiteHorse Europe.

“We are very happy to support Astek, which is very probably the last independent IT services company of this size in France. In recent years, Astek has benefited from significant growth based on solid market fundamentals in France and internationally, a clear roadmap and a quality management team. We are delighted to support Astek in this new chapter of its development and thus contribute to the pursuit of its ambitious growth plan ”, noted Charles Bourgeois, Director, HIG WhiteHorse Europe.

Overview of recent acquisitions made by Astek In February 2021, Astek expanded in Belgium and the Netherlands through the acquisition ofImmunity-IT

, specialist in IT services, testing and digital transformation. In December 2020, Astek acquired theIneat group

, present in France, China and Canada, specializing in digital transformation, user experience and e-commerce. In November 2020, the merger withMeritek

, one of the leaders in IT and digital transformation in the banking, insurance and transportation sectors in Quebec, has enabled Astek to become a major player in Canada with more than 500 consultants. Previously, in December 2019, Astek acquiredProsoft Lab and basic services

, bringing together more than 200 consultants specializing in IT, particularly in the banking sector, thus strengthening its leading position in the Polish market. In July 2019, the merger withIntitek

, a group of more than 800 people present in France, Canada, Spain and Poland, in the digital transformation, outsourced R&D and connected objects markets, enabled Astek to cross the 210 million mark. euros of turnover.

List of participating councils

For Astek Vulcain (M&A):

Gauthier Baijot (Partner), Thierry Falque-Pierrotin (Partner), François-Emmanuel Hébert (Vice-President), Théo Dahan (Analyst), Quentin Passel (Analyst) Indefi (VDD Strategy):

David Toledano (Partner) Eight Advisory (VDD Finance):

Mathieu Morisot (Partner), Julie Vuarchex (Manager) JP Weber (Social / fiscal VDD Poland):

Tomasz Bartoszek (Associate Partner), Tomasz Sadurski (Associate Partner) Edge Avocats (legal advice):

Claire Baufine-Ducrocq (Partner), Alison Dargon (Lawyer) Keels Avocats (tax consultant):

Laurent Partouche (Partner), Adélie Louvigné (Lawyer), Claire Jondot (Lawyer) Nabarro Béraud Avocats (legal advice on financing):

Jonathan Nabarro (Partner), Marie Santunione (Lawyer)

For HIG WhiteHorse and AXA IM Alts HIG WhiteHorse:

Pascal Meysson, Charles Bourgeois, Romain Hernot AXA IM violists:

Thierry Martet, Isabelle Landes, Ruben Oudjman McDermott Will & Emery (Legal Counsel on Funding):

Pierre-Arnoux Mayoly (Partner), Shirin Deyhim (Lawyer)

About Astek

Founded in France in 1988, Astek is a global player in engineering and technology consulting, present on five continents. With its expertise in many industrial and tertiary sectors, it supports its international clients in the intelligent deployment of their products and services, and in the implementation of their digital transformation.

Since its creation, the Group has based its development on a strong culture of entrepreneurship and innovation, and on supporting and developing the skills of its 5,000 employees who commit themselves every day to promoting a combination of digital technologies and complex systems engineering. Pro forma of acquisitions, the Group expects to achieve a turnover of 360 million euros in 2021.
Press contactClaire Dolgez (cdolgez@Image7.fr) and Charlotte Le Barbier (clebarbier@image7.fr
)

Phone: 01 53 70 74 70

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