Cobepa sells SGG to Astorg Partners and management
SGG, one of the leading independent Trust & Services providers in the Benelux, has been sold by Cobepa to Astorg Partners (“Astorg”) and SGG’s management for an undisclosed amount.
Established in 1953, and headquartered in Luxembourg, SGG is a leading independent Trust & Services provider in Luxembourg, the Netherlands and Curaçao with c.550 professionals. It offers a comprehensive range of value-added services, providing tailored solutions primarily focused on corporate and institutional clients and the family offices segment.
During Cobepa’s ownership, SGG has grown rapidly through a combination of organic growth and a successful buy-and-build strategy that allowed SGG to more than double its revenues over the past 5 years. Over this period, the company has transformed into a well-integrated multi-jurisdictional and multi- service offering organization, with a worldwide network of representation offices and managed trust offices.
Jean-Marie Laurent Josi, Managing Director of Cobepa said: “Together with management, we have been able to transform SGG into one of the leading players in the Benelux with a solid international platform. After 5 years of successful collaboration with management, we believe SGG is now ready for its next phase of development with a new shareholder and we are pleased that Astorg has agreed to continue that journey with management.”
Serge Krancenblum, CEO of SGG said: “I would like to thank Cobepa for its support in developing SGG over the last five years. On behalf of SGG’s management team and employees, we welcome Astorg as our new main shareholder. With Astorg’s support, we aim to accelerate SGG’s growth through the launch of new services and further expansion into new jurisdictions.”
François de Mitry, Partner at Astorg Partners said: “We are extremely impressed by the evolution of SGG over the last years and are fully committed to backing the existing management team in executing its growth ambitions.”
Parties involved:
Cobepa:
Jean-Marie Laurent Josi, Dirk Broekhuyse, Xavier de Walque, Arnaud de Cartier d’Yves
Financial advisors: Leonardo & Co. and ING
Legal advisor: White & Case
Due diligence advisor: Deloitte
Astorg Partners:
François de Mitry, Judith Charpentier, Benjamin Cordonnier, Thomas Carbonel
Legal advisor: Latham & Watkins
Due Diligence advisors: Ernst & Young, McKinsey & Company, Loyens & Loeff, Marsh
Cobepa
Cobepa is an independent, pan-European evergreen investment company with a net worth of €1.7 billion. The company’s shareholder base consists only of European families, which provides Cobepa with the stability to invest over the medium- to long-term in companies to support them in their development. With a history dating back to 1957, Cobepa has a long track record of successful investments in a wide range of industries, geographies and investment products. Its focus on long-term value creation via growth-driven investment strategies forms the fundament of its investment philosophy. For more information, please visit www.cobepa.com
SGG
SGG Group is a leading multi-jurisdictional provider of financial services in Europe and beyond.
We pride ourselves on the expertise and responsiveness we bring to our clients, providing tailored, global solutions in a transparent and cost-efficient manner. For more information, please visit www.sgggroup.com
Astorg Partners
Astorg is an independent private equity fund management company, specializing in European mid-market buyouts, with total funds under management of over €4 billion. Astorg seeks to partner with successful and entrepreneurial management teams, to acquire businesses - very often family-owned - with attractive growth prospects, which Astorg supports through the provision of experienced governance and adequate capital. Astorg enjoys a distinct entrepreneurial culture, a long-term shareholder perspective, and a lean decision-making body enhancing its reactivity. Although a multi-sector investor, Astorg has developed solid industry expertise in healthcare, business-to-business professional services and niche industrial companies selling differentiated, often technology-driven, products. Astorg is headquartered in Paris and has offices in London and in Luxembourg, plus Senior Advisors based in Holland, Switzerland and Germany. Visit www.astorg-partners.com for more information.
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