Ardian sells Opteven to Apax

• Opteven tripled the size of its dedicated digitalisation team under Ardian’s ownership
• It opened two new businesses in Spain and Germany as well as expanding its operations in Austria
• Apax Midmarket X fund, which closed at €1.6 billion in 2021, made the purchase

Ardian announced today that it has sold its majority stake in Opteven, a French provider of breakdown cover and roadside assistance, to UK private equity firm Apax Partners.

Opteven is the European partner for most of the UK’s largest roadside assistant companies. It operates in nine countries but has plans to expand into further markets in 2023. It has doubled its revenues every five years since it was founded in 1985 and this year launched a new growth strategy, Highway25. The strategy aims to address the needs of motorists in the coming years with the transition to electric, hybrid and bio-fuel powered vehicles at the centre, alongside digitalisation, the development of driverless cars and the growth of subscription models within the industry.

Under Ardian’s ownership Opteven tripled the size of its dedicated digitalisation team.

“We are delighted to have been able to work alongside Opteven’s teams,” said Marie Arnaud-Battandier, managing director within Ardian’s expansion team. “They have significantly developed the company by pushing forward the group’s global expansion and digitalisation, while continuing to provide high quality services and prioritising corporate social responsibility. We are pleased to pass the baton to a quality partner such as Apax Partners and we wish them great success.”

Apax is a London-headquartered, global private equity firm with offices around the world. It invests in the technology, services, healthcare and internet/consumer sectors. It has bought Opteven via its Apax Midmarket X fund, which closed in 2021 after raising €1.6 billion.

“Opteven management and Ardian have achieved remarkable things these past few years,” said Thomas Simon, partner in the Apax partners team. “We are delighted to continue to actively pursue the Group’s development projects. We will particularly support the Opteven teams in accelerating their global expansion and digital transformation strategy.”

With Apax as majority shareholder, Opteven will pursue a growth strategy to accelerate its international development.

“We would like to thank Ardian teams for their commitment over the last few years and are pleased to be able to rely on the support of the teams at Apax Partners in the deployment of our new strategies,” said Jean-Matthieu Biseau, president of Opteven. “Together, we will carry out our expansion projects and anticipate changes in the mobility market to ensure that Opteven’s sustainable growth momentum continues. In this respect, we would also like to acknowledge the confidence that Apax Partners has placed in Opteven’s teams. This confidence confirms that the stability of the management team is one of the keys to Opteven’s success.”