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ASSYSTEM AND ARDIAN HAVE JOINED FORCES TO ACCELERATE THE DEVELOPMENT OF GLOBAL PRODUCT SOLUTIONS (GPS)

Assystem S.A. (ISIN no.: FR0000074148 – ASY) has signed an agreement[1] with Ardian to transfer 60% of the company’s Global Product Solutions (GPS) division, leaving the former with 40% ownership. 

Assystem aims to allow GPS to remain one of the main players in the ongoing consolidation of the R&D outsourcing market. By cooperating with the private independent investment company Ardian, the group gives GPS access to the resources and expertise that Ardian deploys to support the growth of its holdings, particularly through identification and financing of acquisitions.

GPS aims to respond to the expectations of its clients, who are willing to prioritise fewer suppliers with a more general, global offering. Enhancing GPS’s growth and its geographical and sectorial reach is of the essence to ensure, over the long run, its position as a market leader.

The company’s managerial teams will remain in place. Mr Olivier Aldrin, former deputy chief executive officer of the Altran group, will assume the role of chairman of the management board from the transaction date.

Dominique Louis, Chairman and CEO of Assystem, said:

“We believe that relying on Ardian’s skills and financial means was an excellent driver for accelerating GPS’s development and securing its position as a market leader. Ardian and Assystem are now partners in this new chapter of GPS’s history. We are confident in GPS’s success and convinced of the opportunities this partnership is creating for its clients, managers and employees.” 

Lise Fauconnier, Managing Director Ardian Mid Cap Buyout, said:

“We are very pleased about the opportunity we are given to lead a development project for GPS, together with Assystem. GPS enjoys a strong growth and profitability dynamic which we plan to both continue and accelerate, through external growth, in an environment of consolidation for outsourced R&D.” 

[1]The agreement consists in an offer made by Ardian to benefit Assystem. It includes the organisation and financing of the GPS division acquisition, allowing Assystem to own 40% of the share capital of the acquisition vehicle. Ardian and Assystem are expected to conclude contracts as per the terms of the offer, upon receipt of notice from the employee representative bodies as required by the legislation in force.

The operation is planned for end of Q3 2017 and is subject to approval by the relevant merger control authorities.