Apax Partners acquires a significant stake in Efficy Group, an independent leader in the European CRM market, alongside its founders and Fortino Capital
Paris, September 7, 2021 - Apax Partners announces that it has acquired a significant stake in the Efficy group, to support its organic and acquisition-based growth strategy in Europe, alongside its founders and Fortino Capital.
The Efficy group was created in 2005 by Cédric Pierrard and Robert Houdart, with the aim of launching a complete and highly customizable SaaS CRM (Customer Relationship Management) solution.
Based in Brussels, the group is present in 15 countries, has more than 550 employees, nearly 13,500 customers and 330,000 daily users.
With double-digit growth, Efficy launched its 5³ strategic plan in 2019. The goal is to multiply the company's size by 5 to represent 5% of the independent CRM market in Europe, all within 5 years. To achieve this, the group is committed to an ambitious strategy of organic growth and buy-and-build. The group has already made more than 10 acquisitions since its creation.
With its latest Midmarket X fund closed at €1.6 billion, Apax invests a significant amount in the CRM vendor. As a new partner, Apax will help the Efficy team accelerate its growth strategy to create an independent CRM market leader in Europe, notably through major acquisitions.
Apax has already contributed to the group's recent acquisition of APSIS in Sweden.
Cédric Pierrard and Robert Houdart, Efficy founders, are delighted with the arrival of Apax: "The current speed of development of the Efficy group required a reinforcement of our shareholding. Having already worked with Fortino in the past, Apax Partners seemed an obvious choice. Having a leading private equity fund in Europe and another more specialized in our IT sector is for us the perfect combination that will enable us to achieve our ambitions".
Thomas de Villeneuve and Qiongyan Shao, Partner and Director at Apax Partners, add: "We are glad to support Cedric, Robert and the Efficy team in their ambitious organic and external growth strategy, and to join forces with Fortino in this adventure. We have the financial capabilities, resources and experience to support Efficy in this new phase of its development to establish it as an undisputed independent CRM leader in Europe.”
Arnaud De Vos, Director at Fortino Capital, says: "Since Fortino joined the venture with Cedric & Robert, Efficy has accelerated its external growth strategy and expanded its geographical position, with 4 major acquisitions in the last 18 months: Ines CRM (France), webCRM (Denmark), PerfectView (Netherlands) and APSIS (Sweden). It is now the right time to welcome Apax Partners, a reputable partner with whom we are very close, to continue to support Efficy in their ambition to consolidate the European CRM market".
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Apax Partners is one of the leading private equity firms in Europe. With more than 45 years of experience, Apax Partners works with companies over the long term to make them leaders in their sectors. The funds managed and advised by Apax Partners amount to over €4.5 billion. These funds invest in high-growth SMEs and SMIs in four sectors of specialization: Tech & Telecom, Services, Healthcare and Consumer Goods.
Apax Partners SAS, based in Paris (www.apax.fr), and Apax Partners LLP, based in London (www.apax.com), have a common history but are two independent firms.
Fortino Capital Partners is a European investment firm specializing in B2B software solutions. It manages a €240 million growth capital fund and two venture capital funds for earlier stage software solutions. The company has offices in Antwerp and Amsterdam. Fortino Capital's investment portfolio includes MobileXpense, Sigma Conso, Odin Groep, Tenzinger, Maxxton, iObeya, Zaion, among others.
Efficy is a software company that provides small, medium and large companies with a complete, flexible and extensive CRM (Customer Relationship Management) solution that helps them manage their customer relationships. Founded in 2005, the Efficy group works with companies in a wide variety of sectors: Banking (Belfius, BNP Paribas, Fortuneo), Insurance & Mutual Insurance (Amma, Wilink), Social Housing, Industry (CEA, Gradus, Poujoulat), Services, Tourism & Transport (Kinepolis, Geneva Tourism), Retail (La Redoute, Groupe Gautier), Local Gouvernments & Chambers of Commerce. More information, www.efficy.com.