Paris, 6 January 2022 - Altamir and the funds managed by Amboise Partners have sold their investment in Alain Afflelou as of 31 December 2021 to holding companies held by Mr Alain Afflelou for a total amount de €63m. Excluding the repurchase of a secondary position in the Apax France VII private equity fund (renamed Aho20), Altamir realised a multiple of 1.8 times its initial investment in 2012.
Alain Afflelou was the last remaining portfolio investment of Altamir's legacy investment strategy, which consisted in investing alongside the funds managed by Apax Partners SA.
Since 2011, Altamir investment strategy has been to invest primarily in funds managed by Apax Partners SAS and Apax Partners LLP and to co-invest alongside these same funds.
As announced at the time of the takeover by Amboise in 2018, Altamir can take advantage of other investment opportunities to increase its exposure to fast-growing markets (North America and Asia) or to invest with a time horizon that is longer than that of traditional private equity funds when a company's growth and value-creation potential is still significant. Accordingly, Altamir has allocated €90m to the Altaroc Global 2021-23 vintages (ca. €30m p.a.) and invested €100m in THOM Group's top-level holding company, thereby becoming its lead shareholder.
About Altamir
Altamir is a listed private equity company (Euronext Paris-B, ticker: LTA) founded in 1995, with a NAV of more than €1.2bn. Its objective is to provide shareholders with long-term capital appreciation and regular dividends by investing in a diversified portfolio of essentially unlisted companies.
Altamir's investment policy is to invest principally via and with the funds managed or advised by Apax Partners SAS and Apax Partners LLP, two leading private equity firms that take majority or lead positions in buyouts and growth capital transactions and seek ambitious value creation objectives.
In this way, Altamir provides access to a diversified portfolio of fast-growing companies across Apax's sectors of specialisation (Tech & Telco, Consumer, Healthcare, Services) and in complementary market segments (mid-sized companies in continental Europe and large companies in Europe, North America and key emerging markets).
Altamir derives certain tax benefits from its status as a SCR ("Société de Capital Risque"). As such, Altamir is exempt from corporate tax and the company's investors may benefit from tax exemptions, subject to specific holding-period and dividend-reinvestment conditions.
For more information: www.altamir.fr
Contact
Claire Peyssard-Moses
Tel.: +33 1 53 65 01 74 / +33 6 34 32 38 97
E-mail: investors@altamir.fr
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https://www.actusnews.com/documents_communiques/ACTUS-0-72630-cession-d_alain-afflelou_en.pdf
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