Cegid SA agreed to acquire Grupo Primavera from Oakley Capital Private Equity III, a fund managed by Oakley Capital Investments Limited (LSE:OCI) and Oakley Capital Management Limited on July 26, 2022. Upon close, Silver Lake, the global leader in technology investing, will remain the majority shareholder of the combined company. Grupo Primavera currently has 800 employees based in five countries, serves 165,000 paying customers, and delivered €76 million of revenue in 2021.

Upon closing of the transaction, Chief Executive Officer of Grupo Primavera Santiago Solanas and his entire management team will join Cegid, with Solanas reporting directly to Pascal Houillon, Chief Executive Officer of Cegid. The transaction is expected to close in Q3 2022, and as is customary, remains subject to the information and consultation processes of the relevant employee representative bodies in accordance with applicable laws. Evercore Inc. (NYSE:EVR) acted as financial advisor, PricewaterhouseCoopers International Limited acted as due diligence provider, and Anu Balasubramanian, Arun K. Birla, Pierre Kirch of Paul Hastings (Europe) LLP and Uría Menéndez Abogados, S.L.P. acted as legal advisors to Oakley Capital.