Argos Soditic announces the sale of F2A, first exit of its 2011 fund
Argos Soditic funds announce to have sold their stake in the leading Italian provider of HR and administration services, F2A Group. Headquartered in Milan, F2A provides outsourced services in the personnel administration and accounting areas to Italian and multinational blue chip customers. The management of F2A, led by Chairman and CEO Luciana Dolci, will remain in place.
During Argos Soditic ownership, F2A has been transformed into a well-integrated firm with a strong management team and a solid organization. The company has developed a wide range of services to address the specific needs of clients from large international corporates to smaller local companies. Jean-Pierre Di Benedetto, Partner of Argos Soditic and co-head of the Italian office, stated: “Despite very difficult market conditions, F2A has grown, focusing not only on Italy, but also on international scenarios. We are proud to have supported the excellent work of the management. We are sure that the new shareholder will support F2A’s new challenges in the coming years.”
The F2A Group was created in 2006 through the integration of FIS (established in 1962 as a supplier of accounting and administration outsourced activities) and Antex (also founded in 1962, and active in the delivery of HR services). The product offering includes HR services such as time and attendance records, processing and control of payroll, support in tax filing, in HR management, management of expense reports, definition of HR budgeting; with reference to accounting services in outsourcing including general ledger and VAT accounts, statutory and consolidated accounts, organizational consultancy and IAS/IFRS consultancy.
The Group’s expertise lies in managing critical “non-core” corporate processes, improving its clients’ efficiency in terms of profitability increase and reducing IT expenditures. The Group has a modular and integrated offering, and is able to tailor a final service package to the clients’ exact needs.
About Argos Soditic
Created in 1989, Argos Soditic is an independent European Private Equity firm with offices in Milan, Paris, Geneva, Brussels and Frankfurt. Argos Soditic focuses on management buy-outs, buy-ins, spin-offs, in small and medium sized companies. The funds managed by Argos Soditic typically take majority stakes ranging from €10m to €100m.
Since its creation, Argos Soditic has operated 6 funds and carried out more than 60 transactions focused on transformation and growth in the acquired companies, ahead of financial leverage. The firm has in particular developed a track record of unusual, complex and off-market transactions where the firm’s combination of local presence and international experience adds value to the small and medium-sized businesses it invests in. The latest fund Argos Soditic VI (€400m) raised in 2011 has completed 13 investments to date and committed more than 80% of the fund’s available capital.
About F2A Group
F2A is the leader in the outsourced services and sole Italian player able to offer the “Right Formula for your Business”, the integrated mix of specialized services and multi-disciplinary activities, granting a professional assistance to its blue chip customers.
As of today, F2A can count about 1500 customers, a turnover of 50 million euro, eight offices in Italy and 650 professionals. Under an integrated management perspective, F2A offers outsourcing and consultancy services in different corporate areas like HR management and Finance and Administration.
Argos Soditic: Jean-Pierre Di Benedetto, Emiliano Tonelli, Andrea Tiraboschi
Argos Soditic Advisors:
M&A: Altium Capital (Carlo Dawan, Christian Wipf, Alessandro Soprano, Emilio Pestarino)
Legal: LCA (Avv. Giovanni Carcaterra)
Tax: TFP & Associati (Avv. Sergio Sottocasa)
Business: ATKearney (Andrea Majoli, Enrico Bianco, Umberto Giolito)
Accounting: KPMG (Matteo Contini, Matteo Ennio, Bruno Nicolosi)
Contact: Sonia Popoff / firstname.lastname@example.org / +33 (0)1 53 67 20 50