- Trustteam has tripled its revenues in the last few years
- France now represents more than 30% of the group’s revenues
- Trustteam is an IT managed services provider
Ardian has today announced it is to sell its majority stake in Trustteam to Rivean Capital. Trusteam is an IT managed services provider headquartered in Kortrijk, Beligum. It was founded in 2002 and is a one-stop-shop covering the full spectrum of IT services and equipment with cloud and connectivity services, cybersecurity, and software solutions.
Ardian, the Paris-based global investor with a reported AUM of $130 billion bought a majority stake in Trustream in 2018 and has reported rapid growth of the company. Both organic growth and through M&A. Trustteam has completed 6 add-ons in France and Belgium since Ardian’s investment, with France reportedly responsible for 30% of the group’s revenues.
”Over the last years, we have significantly accelerated our development and have further professionalized the group, tripling the revenues of the company.” Said Stijn Vandeputte, founder & CEO of Trustteam. “We would like to express our gratitude to the Ardian Expansion team for their continuous support and guidance over the past years. We look forward to starting a new chapter with our partner Rivean Capital who have demonstrated an outstanding understanding of our business and full compatibility with our culture.”
Rivean Capital is a European private equity firm with offices across the continent. It was founded in 1982 and has current assets under management of $3.1 billion. It looks to invest in companies in Austria, Belgium, Germany, Italy, The Netherlands, and Switzerland with an enterprise value between $105 million and $527 million.
“This transaction is another milestone for Rivean in Belgium and fits perfectly with our ‘local-for-local’ strategy to partner with ambitious and entrepreneurial management teams regarding the internationalization of their business,” said Nicolas Linkens, senior partner at Rivean.
“From the outset, we have been impressed with Trustteam’s track record of consistent organic growth, its value-creative buy-and build strategy and its entrepreneurial management team, creating the leading managed service provider for SMEs in Belgium and Northern France,” commented Peter Hujoel, partner at Rivean. ”We are delighted to be partnering with Trustteam to further its growth ambitions, both organically and through strategic acquisitions.”