Vitruvian Partners, the international growth capital and buyout firm, has reached an agreement with Apax Partners sas, the European private equity firm based in Paris, to acquire a majority shareholding in Expereo, the world’s leading provider of Managed Internet, Cloud access and SD-WAN solutions. Apax Partners will remain as a minority shareholder alongside Vitruvian Partners and the company’s management team, who will continue to lead the business. The completion of the transaction is subject to obtaining customary merger control clearances.
Expereo has a strong track record of growth, financial performance and value-enhancing acquisitions, solidifying its position as a market leader in providing managed Global Internet and network connectivity solutions to its communication service provider partners and an impressive array of multinational corporate customers spanning the globe.
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“Vitruvian Partners will further bolster our ambitious growth trajectory, enabling us to capitalize even faster on the fundamental changes and opportunities digital transformation brings in the global network and cloud connectivity space,” says Irwin Fouwels, CEO of Expereo. “Vitruvian and the continued support of Apax Partners, will enable us to further build out our leadership position at scale whilst broadening our services suite, enabling our global enterprise customers’ network transformation and cloud-first strategies with enhanced internet and cloud access services with a single, best-in-class, digital customer experience.”
David Nahama, Senior Partner at Vitruvian Partners, adds:
“We have been tracking Expereo since 2016 and have seen the company consistently outperform, and more recently make multiple significant strategic acquisitions. Expereo has established a global leadership position in the highly attractive global cloud and software-defined networking market, allowing it to deliver compelling and differentiated solutions to its customers, underpinning its attractiveness from an investment perspective. We approached Irwin and Thomas late last year and are delighted to be partnering with the Expereo team and Apax on the next significant chapter of Expereo’s expansion and success.” Joe O’Mara, Partner at Vitruvian Partners, concluded: “Together with Apax, we believe we have significant capital and operational capabilities to support Expereo’s growth and acquisition aspirations.”
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Thomas de Villeneuve, Partner at Apax Partners, says: “The rapid adoption of cloud-based applications and SD-WAN technologies puts Internet-based WAN solutions at the center of multinational companies’ business models. Expereo has delivered impressive growth since we invested in the business and truly capitalized on these technology trends. We are extremely pleased to continue on this success journey together with Vitruvian, Irwin and his team.”
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