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  VISIATIV company press release from 14/01/2019

  14/01/2019 - 18:00

Visiativ expands its Consulting business in the UK by acquiring Jumpstart


Lyon, Monday 14 January 2019 – 6.00 pm. The Visiativ Group share is listed on Euronext Growth (FR0004029478, ALVIV).

 

Following the signing of a letter of intent forwarded on 20 November 2018, ABGI Group, an international innovation management and financing consultancy firm and a subsidiary of Visiativ1, today announces the closing of its acquisition of a majority stake in Jumpstart (93%), a UK-based innovation consultancy firm.

 

New market for ABGI Group, the Visiativ Group's innovation management and financing business line

Founded in 2008 in Edinburgh (Scotland), Jumpstart provides innovation financing assistance to around 700 clients via a team of 44 employees working from three locations (Edinburgh, Manchester and Birmingham).

Jumpstart posts annual revenues of around £4.7 million (€5.2 million), 9% growth and double-digit profit margins. The company is headed by its Managing Director, Scott Henderson.

This acquisition gives ABGI Group unrivalled expertise in providing support for SMEs (90% of Jumpstart's clients) as well as a foothold in a fast-growing new market. Following the acquisition, Visiativ's Consulting business will operate in 5 countries (France, Canada, USA, UK and Brazil via a minority shareholding) and employ around 200 people, half of whom will be based overseas.

The Jumpstart acquisition will provide a further boost to ABGI Group's growth after its French subsidiary recently won the Excellence 20192 award in recognition of its outstanding growth track record.

 

A major milestone towards fulfilling Visiativ's Next100 plan to generate revenues of €200 million by 2020

Only a few months after acquiring Innova Systems (SOLIDWORKS distributor based in Cambridge – £3.8 million revenues, growing fast), this latest acquisition will drive the development of Visiativ's innovation management and financing consultancy business in the UK.

The acquisition enables Visiativ to reach significant mass in the UK (full-year revenues of around €10 million and a headcount of 65) and leverage a vast client base in order to develop efficient cross-selling between its SOLIDWORKS integration (Innova Systems) and innovation management consultancy (Jumpstart) business lines serving around 1,700 clients in total.

The acquisition will be carried out according to a management shareholding model: Jumpstart Managing Director Scott Henderson will remain a shareholder of the company and two other managers will have the opportunity of acquiring a shareholding in 2019.

 

Visiativ Chairman and CEO Laurent Fiard made the following comments:We are very excited about this acquisition of a fast-growing player on the UK market, which will allow us to develop a second business line that has already earned its position in Visiativ's offering, as ABGI Group has posted 30% growth since the beginning of 2018.”

ABGI Group CEO Bruno Demortière stated:This acquisition is a unique opportunity for the innovation management and financing consultancy business within the context of Brexit, as the UK will be maintaining a high level of incentives, a policy that has already led to double-digit growth in the number of applicants.”

Jumpstart Managing Director Scott Henderson added:The backing of an international player operating throughout the innovation and software consulting value chain, including production via its 3D printing business, is highly stimulating for myself and my staff; ABGI Group's consolidation drive is based on strengths which we share: efficient methods and committed staff.”

 

Next financial release: FY 2018 revenues: 22 January 2019, after close of trading

 


About Visiativ
Integrator of innovative software solutions, Visiativ steps up the digital transformation of companies via its collaborative and social business platform and innovation consultancy offer. Working with mid-caps since its foundation in 1987, the Visiativ Group posted 2017 revenues of €124m and boasts a diverse portfolio of over 18,000 customers. Covering every economic sector in France and with operations in international (Belgium, Brazil, Canada, Luxembourg, Morocco, the Netherlands, UK, USA and Switzerland), Visiativ has nearly 900 employees. The Visiativ share (ISIN code FR0004029478, ALVIV) is listed on Euronext Growth Paris. The share is eligible for the PEA and PEA-PME personal equity plans and FCPI/FIP investments funds, thanks to its status as an “innovative business” recognised by Bpifrance.

For further information, visit www.visiativ.com


CONTACT VISIATIV
Eléonore DUFOUR
Communications Officer
Tel.: +33 (0)4 78 87 29 29
eleonore.dufour@visiativ.com
INVESTOR / MEDIA RELATIONS
ACTUS
Théo MARTIN / Serena BONI
Tel.: +33 (0)1 53 67 36 75 / +33 (0)4 72 18 04 92
tmartin@actus.fr / sboni@actus.fr

 

 


1 ABGI has been a subsidiary of Visiativ since the Group acquired a majority stake in March 2018
2 Excellence 2019 diploma awarded by Bpifrance