Paris (France), June 1st, 2021
Apax has reached an agreement with CVC Capital Partners (“CVC”), to sell its majority stake in BIP. BIP President Nino Lo Bianco, CEOs Carlo Capè and Fabio Troiani and the other equity partners will continue to hold significant stakes and to manage the Group.
Founded in Italy in 2003, BIP is now a leading multinational consulting firm employing more than 3,500 people worldwide and generating revenues of 315 million euros in 2020 (an increase of 31% compared to 2019). The Company is currently present in 13 countries. Apax is selling its majority stake to CVC after having supported BIP’s outstanding growth and development since 2018. Under Apax ownership, BIP doubled its revenues and successfully rolled out its consolidation and internationalisation strategy while becoming an international leader in digital transformation and innovation consulting.
A successful M&A strategy
Apax provided expertise which allowed BIP to structure and strengthen its merger & acquisition capabilities.
Over the last 3 years, BIP completed 6 acquisitions domestically and internationally. In 2020,Apax accompanied BIP in its largest acquisition ever, the London-based consultancy Chaucer Consulting.
A global footprint
In the space of three years, BIP transformed itself from an Italian company into a global player capable of meeting the consulting needs of blue-chip clients around the world.
Apax supported BIP’s internationalisation strategy by strengthening its positioning and activities in Europe and the Americas. The share of BIP’s international revenues increased from 18% at end-2017 to 32% in 2020.
Strengthening BIP’s leadership in innovation and digital consulting
Among the first consulting firms to enter the fast-growing digital consulting market in 2013, BIP has developed one of the strongest digital practices. Today, this practice represents around 30% of its revenue versus 17% in 2017 and this double-digit growth continues.
With the full support of the Apax Team, BIP established a plan to further accelerate its organic growth by leveraging its strong edge in Digital. In 2019, the company redesigned its vision, mission, and brand for a streamlined positioning at the vanguard of the digital revolution with a strong ESG focus on reducing the digital divide.
Gilles Rigal, Apax representative for BIP’s Board of Directors and Damien de Bettignies, Partner at Apax said: “We have been delighted to work with BIP President Nino Lo Bianco, CEOs Carlo Capè and Fabio Troiani and the Equity Partners, and to support BIP’s outstanding performance over the last 3 years. We are deeply convinced that, thanks to its differentiated positioning, strong edge in digital, excellent management team and entrepreneurial partnership, the company will continue on its impressive development path to become a top global consulting firm.”Nino Lo Bianco, Carlo Capè and Fabio Troiani, the founders of BIP, added: “We want to thank Apax Partners, for the support provided to us throughout the exceptional progress made in recent years”.
Contacts:
Enzo Falsanisi: enzo@businesswsociety.com, tel: +33 6 71 87 91 84
Sébastien Rouichi-Gallot: sebastien@businesswsociety.com, tel: +33 6 64 51 25 56
About Apax Partners
Apax is a leading European private equity firm based in Paris. With more than 45 years of experience, Apax provides long-term equity financing to grow and strengthen world-class companies. Total funds managed and advised by Apax exceed €4.5 billion. These funds invest in fast-growing, middle-market companies across four sectors of specialisation: Tech & Telecom, Consumer Goods, Healthcare and Services.
Paris-based Apax SAS (www.apax.fr), and London-based Apax LLP (www.apax.com), share history but are independent private equity firms.
@ApaxPartners_Fr
