Comdata, an Italian group which is a European leader in customer care services and business processing outsourcing, controlled by private equity firm Carlyle since 2015, strikes a new acquisition. Comdata actually announced yesterday it has signed a binding agreement for the acquisition of Paris-based CCA International from funds managed by French alternative asset manager LFPI Group. The latter had delisted CCA International from Paris Bourse in July 2017. The closing of the deal is expected by the end of H1 2018 (see here the press release).
CCAI, provides BPO (business processing outsourcing) services in 12 countries and counts 6,600 employees. Managed by Patrick Dubreil and Marc Labarre reached 164 million euros in revenues in 2017, of which more than one third from out of France.
As for Comdata Group, this is the second acquisition in France, after the one in 2017 when the Italian group bought b2s and other three subsidiaries (BCust, Colorado Conseil and Cms) of french group Izium, which had posted 180 million euros in revenues in 2016 (see here a previous post by BeBeez). B2s, today renamed Comdata Group France, will integrate CCAI in its operations.
Managed by ceo Massimo Canturi and thanks to this new acquisition, Comdata Group targets one billion euros in reveneus in 2018, after having reached 769 million euros in 2017. And the m&a campaign is not at the end.
In the recent past Comdata has already been quite acquisitive. In May 2016 Comdataacquired Spanish group Overtop Projects (see here a previous post by BeBeez). That acquisition was made through Spanish group Digitex, which in turn had been acquired by Comdata in February 2016 ( see here a previous post byBeBeez). In July 2016 Comdata had instead acquired Turkish group Win Bilgi Iletisim (see here a previous post by BeBeez).
Carlyle had acquired control in Comdata in December 2015, buying the group out from Altair Sistemi informatici, a holding company owned by Enrico Saraval (back then owning an 85% stake in Comdata) and from Synergo sgr private equity firm (15%). After that deal, Carlyle owned a 90% stake, Mr. Saraval remained with a 7.5% stake and the management owned the remaining 2.5%, with Mr. Canturi who was confirmed as Comdata’s ceo (see here a previous post by BeBeez). Whan Comdata acquired b2s, the founder and chairman of Izium Group, Maxime Didier, reinvested in Comdata taking an 11% stake, joining Carlyle (down to 82%), Mr. Saraval (down to 6.5%) and the management.
