Apax Partners: new shareholder of Faceo

The funds managed by Apax Partners SA have just signed an agreement to acquire the Faceo group, a European specialist in Facility Management, from its joint shareholders Cegelec and Thales.

The transaction, conducted in association with the management team of Faceo, should be closed in the coming weeks. It is financed through equity, along with senior debt arranged by Société Générale and mezzanine debt from Indigo.

Created in 2000, Faceo has become in a few years a leading European player in Facility Management. As a global player, the group covers a wide range of activities based around real estate services and soft and hard services (including cleaning, maintenance, security, remote monitoring, document management, reception, property management, etc.).

The Faceo group attends to the needs of more than 130,000 European users and is reputed for the quality of its client portfolio including, beside Thales and Cegelec, AGF, Alcatel, Areva, EADS, France Telecom, General Electric, Nestlé, PSA, Sanofi-Aventis, Siemens and the Quai Branly Museum - to name but a few. Present in France, Great Britain, Germany, Austria, Italy, Switzerland and the Benelux countries, the Faceo group has 1,533 employees. In 2006, its turnover amounted to €349 million, up by 10% compared to 2005.

“We are pleased to have found a partner specialising in the business services sector, which will provide us with the benefit of its expertise and its experience as a corporate developer. Thanks to the support of Apax Partners, we will be in a position to see through an ambitious development programme and grasp the best opportunities in terms of acquisitions, be they in France or in Europe to reach critical size,” declare Serge Clemente and Serge Delon, co-managers of Faceo.

“Facility Management is a market undergoing rapid growth. Faceo has all the key skills and know-how to impose itself as one of the European leaders in this market, owing to the scope and flexibility of its services, its top-class client portfolio and the quality of its teams,” states Monique Cohen, Partner at Apax Partners.

Bernard Lemoine, Business President, Cegelec Global Systems & Services (GSS), explained: “Cegelec wanted to divest its stake in a company whose business was not core to its own strategic focus on designing and delivering technological services. In this way, we could give Faceo more freedom to pursue its growth. We wish all of Faceo’s teams and management the very best of success in their new endeavour as an LMBO. This transaction has broadened our room to manoeuvre in making new acquisitions.”

"Thales is pleased to have accompanied Faceo until its maturity, allowing it to start a new phase of its development. Thales and Faceo will continue to cooperate for the benefit of their major customers, to whom Thales will bring its expertise in security systems and equipment", said Jean-Paul Lepeytre, Senior Vice President of Thales's Security Solutions and Services activities.

Our Shareholder

About Apax Partners

Apax Partners SA is a leading private equity firm in France. It has more than 30 years of investing experience. Funds under management exceed € 2 billion. These Funds provide long-term equity financing to build and strengthen world-class companies. Apax Partners Funds invest in fast-growing companies across its sectors of specialization: Retail & Consumer, Tech & Telecom, Media, Healthcare, Business & Financial Services. The latest investments in the Business & Financial Services sector include Alma Consulting Group, a leading operational advisory services firm specialized in costs reduction, and Equalliance, one of the French leaders in investment real estate.

More information on www.apax.fr

About Cegelec

Cegelec is an integrated global group providing technological services for companies and local authorities. It is present in over 30 countries and employs 26,000 people. The Group is active on the complete service cycle to the client, from engineering and design to installation of equipment and infrastructure as well as maintenance. Cegelec provides efficient solutions in the following areas: energy, electricity; automation, instrumentation and control; information and communication technologies; HVAC, mechanics; maintenance and services. Cegelec is an independent company set up through an LMBO, owned by the French investment fund LBO France, the management and staff.

More information on www.cegelec.com

About Thales

Thales is a leading international electronics and systems group, addressing defence, aerospace and security markets worldwide. Thales’s leading-edge technology is supported by 22 000 R&D engineers who offer a capability unmatched in Europe to develop and deploy field-proven mission-critical information systems. To this end, the group’s civil and military businesses develop in parallel and share a common base of technologies to serve a single objective: the security of people, property and nations. Thales employs 68 000 people in 50 countries with forecast 2007 revenues in excess of € 12 billion.

More information on www.thalesgroup.com

Contact Faceo

Amaury de Varax – Business Development & Communication

Tel : + 33 1 49 65 21 35

Email : amaury.devarax@faceo.com