The management of Orsyp, a Paris-based provider of enterprise job scheduling solutions and IT services, has completed a buyout in partnership with the European private equity firm Argos So
The management of Orsyp, a Paris-based provider of enterprise job scheduling solutions and IT services, has completed a buyout in partnership with the European private equity firm Argos Soditic.
The Orsyp management says the move was prompted by the need to finance its geographic expansion and well as to optimise time to market for its new products and services portfolio with the aid of external funding.
Under the new structure François-Xavier Floren becomes the new chairman and chief executive of the Orsyp Group, succeeding the firm’s founder, Jean-Jacques Parinet, who becomes chairman of its supervisory board.
Over the past 21 years, Orsyp says, it has grown to become a global leader in the IT operations sector with 12 subsidiaries, 270 employees and a large partner network, serving more than 1,000 corporate clients with enterprise IT automation solutions and consulting services.
‘Our market is moving fast,’ Floren says. ‘Recent market consolidation means that customers have a more restricted choice of high-quality specialty IT software and service vendors. This is our opportunity to remain true to Orsyp’s origins by delivering pertinent solutions to complex IT challenges.
‘The Argos Soditic deal provides us with a financially sound framework to deploy and expand our expertise on an international scale much faster than we would be able to do alone. We are confident we have found the ideal partner that shares our values to take Orsyp to the next level.’
Louis Godron, a partner at Argos Soditic, adds: ‘The Orsyp success story is down to its consistent and continuous investment in innovative technology and services for its clients, and we will continue to nurture this model.
‘We have been impressed by Orsyp’s proven track record, backed up by a motivated team, an impressive client list and an international presence that has demonstrated its profitability year after year. Argos Soditic is pleased to provide the means for Orsyp to achieve its future ambitions, developing a long-term partnership with the management to create long-term value for all stakeholders.’
Orsyp was founded in 1986 to provide IT automation solutions to a wide range of companies in sectors including retail sales, banking, insurance, manufacturing, telecommunications and other services.
Established in 1989, Argos Soditic is an independent private equity firm with offices in Paris, Geneva and Milan that focuses on management buy-outs and buy-ins in small and medium-sized companies primarily in France, Italy, and Switzerland, typically taking majority stakes ranging from EUR5m to EUR50m in companies with revenues of between EUR20m and EUR400m.
In 2006, the firm announced the closing of a new EUR275m fund, Argos Soditic V, which has carried out eight transactions to date: four management buyouts (Driver/Sitour, GPP, FHB and Orsyp), two buy-in management buy-outs (Axyntis and Marie Laure PLV), one spin-off (Alkan) and one management buy-in (Chronolyss).
