Astek announced on August 6, 2021 a new stage in its development with the signing of a € 200 million financing and the entry into the capital of the management team, alongside the founder and executives. The provision of these new resources will enable the Group to support its active policy of acquisitions and targeted development.
An important step in the Group’s Ambition 2024 program, synonymous with strong growth
After more than € 270 million in turnover in 2020 and a forecast of € 360 million in 2021, the Astek Group’s Ambition 2024 plan plans to exceed the € 500 million mark in 2024, combined with a margin of EBITDA greater than 10%.
To effectively support this development, Astek relied on H.I.G. Whitehorse to arrange a € 200M unitranche financing and on AXA IM Alts. A wider opening of capital to managers, alongside the founder and directors, completes the financing.
This mark of confidence from prestigious players is recognition of the skills and commitment of all the group’s employees.
“I am happy and proud today of the confidence HIG and AXA have placed in us by supporting us in this new key stage in Astek’s development. Our ambitions for 2024 and beyond are very strong, with a billion euros in turnover in sight: they testify to the relevance of our unique positioning in promising markets. Thanks to the skills and commitment of our teams, we will continue our excellent momentum, driven by our capacity for innovation and support for our customers in their digitalization”, declared Julien Gavaldon, Astek Group’s Chairman of the Board.
In line with our latest acquisitions, we are looking to further extend our international coverage
After already six takeovers during 2019-2021 on several continents (Europe, North America, Asia), including Intitek, Meritek, Ineat and Immune-IT, Astek intends to accelerate its development in North America, Europe, the Middle East and in Asia and be a key player in the consolidation of the sector in all these continents.
While maintaining sustained and regular organic growth, exceeding 10% per year, the Group potentially mentions Germany, Spain, Japan, a ‘nearshore’ solution in Asia ”and North America, with targets entities specializing in user experience, data, the Cloud and embedded software and hardware.