Apax Partners and Altamir sell their Altran shares to Capgemini to help create an undisputed leader of digital transformation for businesses

Apax Partners and Altamir became Altran shareholders in August 2008. Since then, they have supported the group in its development strategy, which has primarily consisted in:

  • establishing a very significant position in the US market,
  • creating its GlobalShore business employing more than 17,500 people, including about 10,000 in India, and
  • moving toward the management of large, outsourced R&D projects for prominent customers.

In March 2018, Apax Partners and Altamir supported Altran through its transformational acquisition of the US company Aricent for $2 billion, thereby creating the undisputed global leader in engineering services and outsourced R&D. Apax Partners and Altamir participated in the €750 million capital increase, pro-rata to their interest in Altran.

Employing approximately 47,000 people in more than 30 countries, Altran generated close to €3 billion in revenues in 2018 (versus €1.65 billion in 2007 at the time of the investment by Apax Partners and Altamir), of which approximately two-thirds were from abroad. Its operating margin nearly doubled in 11 years, reaching 12.1% in 2018.

Gilles Rigal, Partner at Apax Partners said “It brought me great pleasure to support Altran’s executives and teams in the company’s international growth and the evolution of its business model. Altran became an undisputed worldwide leader during our ownership period. The tie-up with Capgemini will create a global player with a unique combination of expertise, enabling Altran to consolidate its leadership in the market of engineering services and R&D.

Secteur TMT chez Apax Partners

30 transactions, €1,310m invested since 1990
Current portfolio: Altran, Bip, Expereo, InfoVista, Melita, Vocalcom
21 transactions, €86m invested since 1996
Current portfolio: Groupe JVS, Squad

About Apax Partners

Apax Partners is a leading European private equity firm based in Paris. With more than 45 years of experience, Apax Partners provides long-term equity funding to build and strengthen world-class companies. Funds managed and advised by Apax Partners exceed €3.3 billion. These funds invest in fast-growing middle-market companies across four sectors of specialisation: TMT, Consumer, Healthcare and Services.

Paris-headquartered Apax Partners ( and London-headquartered Apax Partners ( have a shared history but are separate, independent firms.

Gilles Rigal
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