APAX_ANNUAL_REPORT_2017

Investments

Divestments

€317m were invested and committed, including €72m of follow-on investments to develop existing portfolio companies and €110m co-invested by our investors. 3 investments in market leading businesses

6 exits

Generated €278m proceeds across all funds.

Compagny

2017 revenue

Evolution

Value creation

Position

ALTRAN TMT Activity: MidMarket

€2,282 m

+40% revenue since acquisition in 2007

From European to Global leadership 18 build-ups

Reference shareholder

Global leader in innovation and high-tech engineering consulting.

CIPRÉS ASSURANCES SERVICES

SQUAD TMT 2017 revenue: €27m

RAUTUREAU GROUP CONSUMER 2017 revenue: €40m

Sale of 8,4% of the share capital.

2017 revenue: €74m Wholesale broker for life,

GFI INFORMATIQUE TMT Activity: MidMarket Major player in value-added IT services and software in Europe. Sale of c. 12% of the share capital and voting rights. L'ATELIER DES COMPAGNONS SERVICES Activity: Development French General construction company.

Specialist in cyber-security and digital transformation.

Manufactures and distributes high-end shoes, including iconic brands such as Free Lance and No Name, as well as Jean-Baptiste Rautureau, Schmoove, Armistice and Héroïne.

€1,132 m

X2 revenue since acquisition in 2007

Business model transformation and international expansion 20 build-ups

Minority *

disability and health insurance, which designs, underwrites and manages health and protection insurance programs for self-employed workers, managers and employees of SMEs. OUR INVESTMENT PROJECT Position CIPRÉS Assurances as the leading multi-products player addressing the Entrepreneurs insurance needs by digitalising all the processes, expanding the brokers network, increasing the brokers activity rate and launching product diversification.

OUR INVESTMENT PROJECT Accelerate Squad’s growth through organic development or targeted acquisitions, to strengthen the cyber security cluster or to complete its geographical coverage.

OUR INVESTMENT PROJECT Develop Free Lance’s brand potential, whose

€50 m

x2.3 revenue since investment in 2011

ADC Lab launching, an innovative approach around Digital Building services 2 build-ups

Reference shareholder

fundamentals, product quality, brand universe and reputation remain in a good dynamic. The group will also revitalise its well-established network, implement a digital strategy and accelerate export.

GLOBE SERVICES Activity: Development French leader of shopper marketing.

€40 m

+60% revenue since investment in 2012 +60% revenue since investment in 2009

From French to European leader 2 build-ups

Reference shareholder

INVESTMENTS ACROSS ALL FUNDS 2013-2017 (in €m)

369

TELLIGO CONSUMER Activity: Development Thematic summer camp leader.

€34 m

3 build-ups

Reference shareholder

317

Total investments

Follow-on investments

238

214

New investments

3

THERMOCOMPACT TMT Activity: Development Innovative coatings and wires for high tech industry.

Number of investments

€78 m

+40% profitability since investment in 2012

Huge R&D investment in new very promising products 1 build-up

Reference shareholder

90

3

2

1

3

2

2013

2014 2015

2016

2017

* Following Mannai acquistion.

12 I APAX PARTNERS I Annual report 2017

Annual report 2017 I APAX PARTNERS I 13