Gimv becomes majority shareholder of the ProxiAD Group
Gimv, one of the main investment companies in Europe, invests in ProxiAD (www.proxiad.com), a French software engineering services company specialising in new object technologies and business intelligence systems. With this investment, made in the context of the departure of two of the three founding directors, Gimv has become a key shareholder in the business, alongside Eric Rozanès and Stéphane Lévy, both well-known professionals in the information technology consulting sector. They will take over the operational management of the Group and will also invest a significant amount. Raymond Vens, one of the three founders of the company, will remain a shareholder and member of the Supervisory Committee. This transaction marks the complete exit of the investment company UI Gestion. ProxiAD, founded in 1997, is a software engineering services company specialising in new object technologies and business intelligence and is particularly well-established in the "Retail banking/Insurance" and "Distribution" sectors. The company recorded a turnover of EUR 31 million in 2012. It employs more than 500 people and boasts one of the best returns in the sector. ProxiAD enjoys a strong growth potential, in particular in: • the strengthening of its presence in Ile-de-France, a region that represents three-quarters of the French information technology services market, • the expansion of the Group's services ("Infrastructures" centre), • the development of new client segments ("Telecoms"). Moreover, ProxiAD offers a major competitive advantage with its service centres in the North and West regions of France and in Bulgaria (120 people). This allows it to offer externalised technical support. Arnaud Leclercq, Head of Gimv France, said: " Through its Smart Industries Platform, Gimv aims to invest in those Growth companies which add value through enabling productivity and world-class intelligence to innovative manufacturing and smart services. The ProxiAD Group is a high-quality company which, under the leadership of its founders, has progressed exceptionally well since it was founded. Gimv is delighted to offer its support to Stéphane Lévy and Eric Rozanès, two well-known professionals in the information technology services industry in France, in their efforts to renew and reinvigorate the ProxiAD group." Stéphane Lévy, President of the ProxiAD Group, said: "We are very happy with this acquisition, ProxiAD is a great company with brilliant staff and well-known business offers tailored to the needs of its customers. Its regional structure allows it to cover a good portion of the country." "Our strategy for the coming years is based on three key pillars: (i) developing the Parisian region, (ii) developing the service centres in Lille, Rouen and Bulgaria and (iii) developing the systems and networks infrastructure centre. Our five-year goal is to at least double our revenue and number of consultants. We are confident that we will hit this target," added Eric Rozanès, Managing Director of ProxiAD.