APAX PARTNERS takes majority stake in LUTECH

The IK IX Fund has successfully finalized the acquisition of a majority stake in the share capital of the target from its previous institutional owner, alongside a significant reinvestment from the founding management team. This strategic transaction represents a pivotal step in the organization’s evolution, marking the transition from a regional specialist to an international platform contender. The strategic rationale for the move centers on the acquirer’s objective to capitalize on the structural growth of the cybersecurity market and the target’s unique ability to attract high-tier technical talent in a competitive landscape

UK-based investment firm Intermediate Capital Group (ICG) has acquired a majority stake in Circet from Advent International in a third leveraged buyout (LBO). The deal values the French group +€3.2 billion, more than triple the valuation when Advent invested in 2018. This transaction is one of the largest private equity deals in the European telecom infrastructure sector this year. The sale process, led by Morgan Stanley and Natixis Partners, attracted interest from several prominent international funds, including BC Partners, Cinven, CVC Capital Partners, and Access Industries

Adista signed a definitive agreement to acquire 100% of its peer Waycom. This transformative operation, supported by majority shareholder Equistone, allowed Adista to solidify its position as the premier alternative French B2B operator, second only to the three historical national carriers. The transaction involved a massive reinvestment by Waycom’s management shareholders into the new group, ensuring operational continuity. This merger followed the acquisition of Fingerprint Technologies in 2020, densifying the group's presence in the Paris region and strengthening its capabilities in multi-cloud and connected retail

Ardian increased its investment in Jakala by acquiring a 60% majority stake, transitioning from its initial minority position held since 2018. The founder retained a 25% stake through Jakala Holding, while several historical institutional investors and the senior management team reinvested alongside Ardian. The transaction was structured to provide Jakala with the massive financial resources required to accelerate its international build-up strategy. The strategic roadmap focuses on scaling the group's footprint in the US, UK, Brazil, and Poland, while continuing a high-paced M&A strategy to integrate specialized digital media and data science capabilities

Groupe Open announces the signing of an exclusive negotiation agreement between the founders and Montefiore Investment, with a view to concluding an investment agreement to launch a mandatory public tender offer for Groupe Open shares. The transaction aims to accelerate Groupe Open's transformation and put the group back on a growth trajectory by providing it with the means to finance the investments necessary for this transformation. These financial resources should in particular enable Groupe Open to make dilutive acquisitions in the short term with the aim of creating value within a 4- to 5-year timeframe

Andera Partners acquired a significant minority stake in Artemys, partnering with the founder Laurent Taieb and his key associates (Boris Gunther, Eric Porte). This "Primary OBO" allowed the founders to realize some patrimonial value (cash-out) while retaining majority control to drive the company's future. The rationale was to provide the financial firepower needed to launch an aggressive external growth strategy (Build-up) in a fragmented market.

The founders of Devoteam have partnered with the global financial sponsor KKR to launch a tender offer aimed at taking the organization private. This strategic restructuring is designed to transition the entity from a public listing to a private ownership model, providing the founders with reinforced legal and operational control. The move facilitates greater agility in decision-making and allows the firm to prioritize long-term investments in digital transformation and cloud technologies without the pressure of quarterly market expectations

HIG Europe has acquired a majority stake in the Italian IT services provider Project Informatica from its founder. The strategic rationale for the transaction is to support the company’s next phase of development within the rapidly evolving Italian technological landscape. By partnering with the founder, who remains as CEO and a significant minority shareholder, HIG aims to leverage its deep international IT expertise to capture both organic growth and strategic consolidation opportunities. The deal focuses on strengthening the company’s position as a reference technological partner for industrial and financial organizations, facilitating professionalized management and broader market reach

The acquisition of Centauri by KBR Inc. is a strategic move to expand KBR's capabilities in the cybersecurity and space domains. The deal is expected to create a leader in end-to-end military, intelligence, and commercial space solutions, and to drive growth and innovation in the industry. The acquisition is also expected to enhance KBR's scale and add complementary expertise and space domain awareness to its strong space system design, development, test, launch, and operations capabilities. The deal is a result of KBR's mission to become a highly technical, mission-focused organization, and is expected to create new opportunities for the company to deliver high-quality solutions to its clients

Bain Capital has announced the signing of a definitive agreement to acquire a majority stake in Engineering from Apax Partners and NB Renaissance, in a secondary leveraged buyout (LBO) transaction. The deal marks the complete exit of Apax Partners, a long-standing shareholder, while NB Renaissance has chosen to reinvest in the company through new investment vehicles, demonstrating its commitment to supporting Engineering's next phase of growth. Founder Michele Cinaglia, who held approximately 12% of the company's capital, has sold his stake but will remain involved in the business to ensure strategic and managerial continuity