At an investment return of 4.6 money multiple, CDG Invest Growth has announced its successful exit from regional outsourcing company Intelcia, in favor of Altice group, a multinational group operating in telecommunications, content and media.
« CDG Invest Growth has strongly contributed to Intelcia’s growth in Morocco and globally and has enhanced corporate governance culture » said Karim Bernoussi, CEO of Intelcia group, adding: « With an entrepreneurial spirit with values of innovation and excellence, Altice group is the ideal partner to support Intelcia in achieving its strategic objectives.”
During CDG Invest Growth’s holding period, Intelcia has grown its annual revenue from €19 million recorded in 2010 to about €120 million, estimated for 2016, mainly through external growth operations.
Supported by more than 7,000 employees, the company is now one of the top 7 French-speaking outsourcing companies and serves prestigious clients such as SFR, Humanis, Google and Darty. It currently operates in Morocco, France, Cameroon and Senegal.
Commenting on the exit, Hassan Laaziri, CEO of CDG Invest Growth, said: « Since its creation, CDG Invest Growth has had a strong focus on value creation and business growth. Our investment in Intelcia shows how the good fit between visionary founders and a private equity fund can be key in achieving the success of a company. Intelcia’s impressive growth has been supported by the implementation of a sound strategy, strong governance combined with an ability to attract and retain the best talents. We strongly believe that Intelcia will keep pursuing its objectives under the new shareholding thanks to a clear strategic alignment with Altice Group.
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