Crédit Agricole Private Equity working with Exclusive Networks on a strategic acquisition in the UK

Crédit Agricole Private Equity is working with Exclusive Networks on the acquisition of UK company Vadition. The acquisition is financed by means of a capital increase subscribed by all shareholders.
The Exclusive Networks Group, based in Boulogne-Billancourt (Hauts-de-Seine), is one of Europe's leading value-added distributors (VAD) specialising in the marketing of solutions for companies in the areas of security, storage and networks.
Crédit Agricole Private Equity acquired a stake in the company in July 2010 during a primary LBO and owns 69% alongside the Chief Executive Officer, key managers, Edmond de Rothschild Investment Partners and Socadif.
Vadition is a VAD of IT security solutions specialising in B2B distribution. It is present in the UK with a subsidiary in the Benelux region, and has 45 employees.
IT security is a fast-growing market in Europe, presenting growth of 8% a year, driven by the development of new technologies such as cloud computing and mobile services and changes in legislation requiring companies to secure their data.
This is a strategic acquisition for the Exclusive Networks Group. It will enable it in particular to strengthen its presence in the UK and develop its storage and maintenance business on the basis of the Vadition platform - two activities that represent growth drivers with considerable potential.
Olivier Breittmayer, Chairman and Chief Executive Officer of the group, states: "The takeover of Vadition is an important step in our acquisition strategy. The company presents a business model similar to our own and adds to our presence in the UK, which is the largest market in Europe in our sector. With expected sales of €180 million in 2011 and operations in 11 European countries, it will also enable us to attain critical mass and establish ourselves as one of the leading names in the market."
Philippe Zurawski, Director at Crédit Agricole Private Equity, comments: "We are delighted to be working with Exclusive Networks in its ambitious expansion strategy. This is the first major acquisition by the company. The aim is to triple its size between now and 2015."