Silver Lake’s Cegid to combine with Oakley Capital’s Grupo Primavera

• Oakley Capital, which created Grupo Primavera through twelve acquisitions and is its majority shareholder, will join KKR and AltaOne as minority shareholders in Cegid
• Cegid is a provider of cloud business management solutions for finance, HR,CPAs, retail and entrepreneurial sectors
• Grupo Primavera is an independent business software platform in the Iberian market

Cedig, a provider of cloud business management services, announced on Wednesday that it has entered an agreement to combine with Grupo Primavera. Upon completion, Silver Lake, will remain the majority shareholder of the combined company. Oakley Capital, which created Grupo Primavera through twelve acquisitions and is its majority shareholder, will join KKR and AltaOne as minority shareholders in Cegid. The combined company is valued at approximately €6.8 billion.

The transaction is expected to close in the third quarter of 2022.

Based in Lyon, France, Cedig is a provider of cloud business management services for finance, human resources, CPAs, retail and entrepreneurial sectors. In 2019, Cedig acquired HR services provider Meta4 and more recently, it bought VisualTime, a time management system.

The addition to the Grupo Primavera family establishes a solid position for Cegid in Iberia and offers expansion opportunities for Grupo Primavera through Cegid’s presence in Latin America.

“Through our investment and strategic development executed since 2016, Cegid has become a pan-European and global player with strong positions in multiple geographies including France, Spain, and Portugal, with important market presence in 12 other countries and selling in more than 130 countries,” said Christian Lucas, co-head of Silver Lake EMEA and vice-chairman of the board of directors of Cegid. “The market for digitisation solutions in the European mid-market, namely through financial management software, is large and growing meaningfully, and the combined company will be uniquely positioned to capitalise on this opportunity as it continues to expand.”

“In partnership with Oakley, Grupo Primavera has grown to become a leading player in the Iberian market for business software,” said Oakley’s founder and managing partner Peter Dubens. “Now under the stewardship of both highly experienced management teams and committed shareholders, Cegid and Grupo Primavera are poised to accelerate a global growth strategy with a focus on market expansion and cross sell opportunities. We look forward to being a part of this new chapter for both companies and the significant potential that lies ahead.”