Cap Vert Finance IB Remarketing has bought rival Nexeya Services and plans to use further M&A to propel itself to become the leader of the European IT maintenance market.
Nexeya Services is a subsidiary of the wider Nexeya Group, a €118m-turnover outfit providing industrial technology and services to the defence, aeronautics, and transportation sectors. Both Nexeya Services and its new owner are based in the Paris area, and Cap Vert Finance, which posted sales of €130m last year, claims the buyout makes it the leading provider of maintenance services in its home nation.
"We are a French high-tech company and proud of it," said Cap Vert Finance president Bruno Demolin. "It was important for us to become number one in our domestic market and our home country. The acquisition of the services activity of Nexeya will allow us to realise this ambition."
Last year The Carlyle Group acquired a majority stake in Cap Vert Finance, and the private equity house intends to support the French IT company as it "aims to become the European leader in its sector through future acquisitions".
The firm, which was founded in 1983, currently employs 330 people across 22 subsidiaries around the world. It established a new office in Japan last month, and plans to land in Mexico next year. It claims to work with about 2,200 customers in 130 nations.
Jean-Yves Rivière, president of Nexeya Services, added: "The sale of our subsidiary, Nexeya Services, strengthens Nexeya Group's strategic positioning as an international electronic equipment manufacturer. This acquisition allows our non-core business activity to join a leading company within the IT maintenance market."
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