Intermediate Capital Group (ICG) has announced the formation of a strategic partnership with Astek, a leading consultancy in the digital, engineering, and technology sectors. Astek, founded in France in 1988 and boasting operations in over 20 countries, assists top-tier organizations in executing their digital transformation strategies. This partnership aims to capitalize on Astek’s decade-long pattern of growth achieved through organic expansion and targeted acquisitions. ICG’s financial and strategic backing is intended to bolster Astek’s continued expansion, talent sourcing, and strategic acquisitions, particularly in strong markets like France, Canada, and Poland, as well as developing regions such as the Middle East. Astek’s current management team, including founder Jean-Luc Bernard and CEO Julien Gavaldon, will retain majority ownership and will work closely with ICG to implement Astek’s growth strategies. ICG’s investment in Astek is perceived as a testament to Astek’s strategic positioning and a step towards achieving their ambitious objectives in terms of global growth and market penetration. The partnership reflects ICG’s confidence in Astek’s robust business model and potential to harness opportunities within the burgeoning field of digital transformation, backed by its expert management team. Advisement for the deal came from a range of specialist firms, including Vulcain, Proskauer Rose, Arsne Taxand, BCG, EY, KPMG, Bots & Cie, and Seedcloud Advisory for ICG, with Natixis Partners, Hogan Lovells, 8Advisory, and Accenture advising Astek. ICG, a veteran in providing flexible capital solutions, manages over $86.3 billion in assets and is listed on the FTSE 100. The firm has committed to net-zero operations and relevant investments by 2040. Astek, with a history of cultivating an innovation-centric culture, has successfully executed a business model that synergizes complex systems engineering with digital technology. This approach has seen the group’s turnover reach approximately 585 million euros as of 2023.

Private Equity, Technology Consulting Services, Information Technology,France, Global

https://www.icgam.com/2024/04/25/icg-invests-in-astek-leading-player-in-consulting-services/