ORSYP Completes Management Buyout (MBO) with Private Equity Firm Argos Soditic to Accelerate Its Quest to Go Global
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PARIS LA DEFENSE, January 14 -- ORSYP, worldwide provider of enterprise job scheduling
solutions and IT Services, today announced that it has completed a Management Buyout (MBO) with the European private equity firm Argos Soditic. This announcement comes as part of ORSYP's decision to fuel its geographic expansion plans and optimize time to market for its new products and services portfolio with the aid of external funding.
Under this new structure Mr. Francois-Xavier Floren becomes the new President and Chief Executive Officer of ORSYP Group, replacing Mr.Jean-Jacques Parinet, founder of ORSYP. Mr. Parinet takes on the position of President of ORSYP's Supervisory Board. The existing executive committee remains intact under the leadership of Mr. Floren and the guidance of Argos Soditic to ensure the continuity of ORSYP products and services to customers.
Over the last 21 years, ORSYP has grown from a French Paris-based company to become one of the top 5 world leaders in the IT Operations space. With its cutting-edge enterprise IT Automation solutions and dedication to provide best-in-class IT Operations Consulting Services, ORSYP today serves over 1000 clients of which 10% are Global 500s. The ORSYP reach in the market through its 12 subsidiaries, 270 employees and large partner network is ready to be extended and transitioned from a medium-size European company to a mature global leader providing speciality IT solutions.
"The timing to enter such a new venture is perfect for ORSYP as our market is moving fast", said Mr. Francois-Xavier Floren, "Recent market consolidations mean that customers have fewer opportunities to select specialty IT software and service vendors of quality. This is our opportunity to remain true to the ORSYP origins by delivering pertinent and dedicated solutions to complex IT challenges. The Argos deal provides us with a financially sound framework to deploy and expand our expertise at an international scale much faster than if we were to do this alone. We are confident that we have found the ideal partner that shares our values to take ORSYP to the next level."
"The ORSYP success story is attributed to the consistent and continuous investment in innovative technology and services for their clients and we will continue to nurture this model." said Mr. Louis Godron, Partner at Argos Soditic. "We have been impressed by ORSYP's proven track record backed up with a motivated team, an impressive client list and an international presence that has demonstrated year after year to be a profitable business. Argos Soditic is pleased to be providing the necessary means for ORSYP to achieve its future ambitions and we do so by developing a long term partnership with the ORSYP management group so that together we create long term value for all stakeholders."
The ORSYP - Argos Soditic deal was completed effective December 20, 2007. The financial terms of this transaction are not disclosed.
About ORSYP (http://www.orsyp.com)
ORSYP was founded in 1986 with the single focus of delivering best in-class IT automation solutions using cutting-edge technology. Over the years ORSYP has established a worldwide reputation for business-friendly job scheduling and job management solutions and excellence in customer care.
ORSYP continuously strives to innovate in this area with solutions that are practical for today and tomorrow's IT and business needs.
Companies around the world-from small companies to Global 500- use ORSYP's job scheduling software to modernize and standardize IT automation enterprise-wide. By providing one standard automation tool across the enterprise, more processes can be automated and managed; improving IT operations productivity, reducing costs, and impacting IT service delivery to the core business. With more than 1000 customers and 10% of the Global 500 accounts, Dollar Universe provides a key IT infrastructure component to companies in industries such as retail, banking, insurance, manufacturing, telecommunications, and services.
About ARGOS SODITIC (http://www.argos-soditic.com)
Created in 1989, Argos Soditic is an independent European Private Equity firm with offices in Paris, Geneva and Milan, wholly owned and operated by its partners. Argos Soditic focuses on management buy-outs and buy-ins in small and medium sized companies across Europe, but primarily in France, Italy, and Switzerland. The firm has developed a unique strategy of carrying out projects that require deep involvement with the financial shareholders and managers of companies (MBO, MBI, BIMBO, spin-off, reorganization, build-up) it acquires. The group of funds managed by the firm typically take majority stakes ranging from EUR5 M to EUR50 M in companies with revenues of EUR20 M to EUR400 M. Argos Soditic prefers to invest in companies with the capacity to become a leader in a business niche. The operations Argos Soditic has carried out include Buffet Crampon, Roc-Eclerc, Oxbow, Du Pareil au Meme and Kermel and Eau Eclarlate in France, Sparco and CH&F in Italy, and Maillefer and ORS in Switzerland.
In 2006, the firm announced the closing of a new EUR275 M fund, Argos Soditic V, which allowed the firm to carry out eight transactions to date: four MBOs (Driver/Sitour, GPP, FHB and Orsyp), two BIMBOs (Axyntis and Marie Laure PLV), one spin-off (Alkan) and one MBI (Chronolyss).
ORSYP Press contact:
Yasmin Adili
yad@orsyp.com
+33(0)1-47-73-17-62
Argos Soditic Press contact:
Madeleine Resener
Madeleine.resener@wanadoo.fr
+33-6-20-41-39-82
Source: Orsyp S.A.
