Advent International Completes Acquisition of Oberthur Technologies
Advent International, the global private equity firm and the François-Charles Oberthur Fiduciaire Group, today announced the completion of the acquisition of the Card Systems and Identity divisions of Oberthur, following workers’ council consultation and the approval of the transaction by relevant market authorities.
Advent International, along with the company’s management, now controls 90% of Oberthur Technologies’ capital. Jean-Pierre Savare, founder of the Oberthur group and his family retain a 10% stake in the capital. The transaction is valued at 1.15 billion Euros.
Oberthur Technologies is specialised in digital security based on smart card technology. It is the world’s second largest provider of security and identification solutions and services, operating in the mobile and payment industries as well as government and corporate markets.
The group posted sales of 814.5 million Euros for the fiscal year 2010.
“We are delighted to be part of the continuing development of this leading French industrial company, the world number two in smart card technologies, created by Jean-Pierre Savare nearly 25 years ago,” said Pascal Stefani, Head of Advent International in France. “Thanks to our international presence and our deep experience in the banking and telecommunications industries, in which we have been investing for over 20 years, we are well positioned to actively support the management in its growth plan for the business, including through acquisitions. ”
Xavier Drilhon, previously Deputy Managing Director of Oberthur group and Managing Director of the Card Systems division, has been appointed CEO of Oberthur Technologies.
“Smart card technology continues to spread across the world in traditional ways; at the same time, new opportunities are arising with the massive introduction of smart connected devices that have to be remotely managed in a secure way. Today, our industry is specialising in the digital security with more and more secure managed services and solutions. This transformation is accelerating with the arrival of internet players. In this context, I am delighted to have the support of Advent International, which will enable us to accelerate our growth, ” added Xavier Drilhon.
Advent International hopes to help grow Oberthur Technologies through potential external acquisitions which may further enhance the technological development and complement existing know-how.
Advent International was advised by:
- M&A: HSBC (Gilles Collombin, Pierre-Emmanuel Houillier)
- Corporate: Weil Gotschal & Manges (Jean Beauchataud, Romy Richter)
- Financing: Marlborough Partners (Romain Cattet, David Parker), Shearman & Sterling (Peter Hayes)
- Finance: KPMG (Florent Steck)
- Strategic: Bain & Co (Jérôme Brunet, Grégory Garnier)
- Legal, social, Tax: TAJ (Ariane Chateaux, Olivier Venzal)
- Insurance: Marsh (Humbert d’Autichamps)
- Environment: ERM (Julien Famy)
The Oberthur group was advised by:
- M&A: Rothschild (Cyrille Harfouche, Guillaume Vigneras)
- Corporate: White & Case (Hughes Mathez, Natalie Negre-Evillard)
- Finance: E&Y (Gilles Marchadier, Anne Fabre)
- Legal, social, Tax: Landwell (Remi Montredon, Cecile Debin)
The management was advised by:
- Finance: Callisto (Hervé Couffin, Charles de Rozières)
- Legal: Mayer Brown (Xavier Jaspar, Alexandre Dejardin)
About Advent International
Founded in 1984, Advent International is one of the world’s leading global buyout firms, with offices in 17 countries on four continents. A driving force in international private equity for 27 years, Advent has built an unparalleled global platform of over 170 investment professionals across Western and Central Europe, North America, Latin America and Asia. The firm focuses on international buyouts, strategic repositioning opportunities and growth buyouts in five core sectors, working actively with management teams to drive revenue growth and earnings improvements in portfolio companies. Since inception, Advent has raised €19.4 billion ($26 billion) in private equity capital and, through its buyout programmes, has completed over 270 transactions valued at approximately €45 billion ($60 billion) in 35 countries.
About Oberthur Technologies
Oberthur Technologies is a world leader in the field of secure technologies: systems development, solutions and services for smart cards (payment cards, SIM cards, access cards, NFC…) and for secure identity documents, traditional and electronic (identity card, passport, health care card). Created in 1984, Oberthur Technologies employs 5,700 employees. With 50 sales offices across 5 continents, Oberthur Technologies’ international network serves clients in 140 countries.
For more information: www.oberthur.com
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50089246&lang=en
Contact:
Advent International:
Citigate
Dewe Rogerson
Ari Levine / Daphné Claude, 01 53 32 84 71 / 78 90
ari.levine@citigate.fr
/ daphne.claude@citigate.fr
or
Oberthur
Technologies:
Oberthur Technologies
Stéphanie
Cau, +33 1 47 85 58 06
Directrice de la Communication
s.cau@oberthur.com
or
FTI
Consulting Strategic Communications
Yannick Duvergé, +33 1 47
03 68 65 / +33 6 74 91 48 05
yannick.duverge@fticonsulting.com
or
Guillaume
Granier, + 33 1 47 03 68 61 / + 33 6 32 65 79 28
guillaume.granier@fticonsulting.com
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