Apax Partners invests in the consulting multinational Bip – Business Integration Partners
Members of multinational consulting company Bip – Business Integration Partners (hereafter referred to as Bip) and Apax Partners (hereafter referred to as Apax), a private equity fund specializing in support for growing European enterprises, signed an agreement today under which Apax will purchase the majority share in Bip, while Bip President Nino Lo Bianco, CEOs Carlo Capè and Fabio Troiani and other partners will continue to hold an important share and manage the Group.
Founded in Italy in 2003, Bip is now one of Europe’s top consulting firms, employing more than 1800 people world-wide.
The Group has significant expertise in management consulting and business integration, reinforced in recent years by acquiring an important position in digital transformation with the addition to the Group of companies such as Ars et Inventio, specializing in Innovation and Creativity, OpenKnowledge, concerned with Social and Digital Transformation, Sketchin, a leader in design thinking, and Artax Consulting, with a focus on Sales Transformation.
Bip now operates in Italy, Great Britain, Spain, Turkey, Brazil, Belgium, Switzerland, the United States, the Arab Emirates, Chile and Colombia.
Apax Partners is a private equity fund specializing in investment in 4 sectors, including technology and telecommunications, where the company focuses on digital products and services, software technologies, hardware, emerging applications and services based on mastery of new technologies.
The operation, Apax’s first in the services and consultancy sector in Italy, represents the key to further acceleration of Bip’s growth and development, geographic expansion and improvement of its position on world markets. The goal is to become the first Italian company to join the exclusive club of the world’s top consulting firms, with the aid of more strategic takeovers.
Upon signature of the agreement, the Argos Private Equity Fund, managed in Italy by CEO Mirco Dilda, leaves the multinational’s shareholding structure after four years of participation in the company.
In this operation, Bip’s shareholders enjoyed the assistance of a team of the law firm Gatti Pavesi Bianchi and financial advisor Equita Sim. Ludovici Piccone & Partners provided assistance with the fiscal aspects of the operation. The sellers were supported by lawyer Lodovico Bianchi Di Giulio, a consultant who has acted as legal advisor to Bip in the past.
Apax relied on the consulting services of the law firm Gianni, Origoni, Grippo, Cappelli & Partners and financial advisor Fineurop Soditic.
“The agreement heralds the beginning of a new age of growth for us,” commented Bip co-founders and CEOs Carlo Capè and Fabio Troiani. “We have set up a winning team and their hard work and commitment has led to our recognition as a key player in the adoption of innovation solutions for enterprises. The addition of a partner such as Apax to our shareholding structure will give us an even more prominent profile on the international scene and allow us to further consolidate the services we supply”. “Under the agreement reached with Apax,” continues Bip President Nino Lo Bianco, “We have become more and more confident that we could implement our ambitious plan, making us one of the world’s top consulting companies. My sincere thanks to Argos, who believed in us four years ago and has contributed to our growth over the past few years”.
Gilles Rigal and Damien de Bettignies partners at Apax Partners add: “We have decided to invest in Bip to turn it into a world leader in consulting services. We have the right expertise, resources and experience to accompany Bip in this new phase of development and help speed up its international growth, both internally and externally”. Argos Partner Mirco Dilda concludes: “We’re honoured to have supported a national champion such as Bip with a full equity operation, having accompanied its management team through a virtuous process of development. With Argos, the company’s sales grew from 80 to 160 million Euros, and we’re confident that Apax, with its specific know-how in the field and its international network, will significantly reinforce the company and its management”.