March 2, 2016
GCA Altium advises Argos Soditic on its sale of F2A to Ardian
GCA Altium acted as exclusive financial advisor to Argos Soditic and the F2A management team on the sale of F2A, the leading Italian provider of HR and administration services, to Ardian. This transaction is GCA Altium's 15th in the Business Services sector in the last year.
F2A Group provides outsourced services in the personnel administration and accounting areas to Italian and multinational blue chip customers. The product offering includes HR services such as time and attendance records, processing and control of payroll, support in tax filing, HR management, management of expense reports and definition of HR budgeting. The Group’s expertise lies in managing critical “non-core” corporate processes, improving its clients’ efficiency in terms of profitability increase and reducing IT expenditures. The Group has a modular and integrated offering, and is able to tailor a final service package to its clients’ exact needs. As of today, F2A Group can count about 1500 customers, a turnover of 50 million euro, eight offices in Italy and 650 professionals.
Ardian will support F2A in its expansion strategy by strengthening the current sales coverage in Italy to find new potential customers, and by helping the Group to explore build-up opportunities to consolidate the market, which is currently extremely fragmented.