Disposal by Deloitte of In Extenso to its partners with support of Crédit Agricole Centre-Est
FR
Sycomore Corporate Finance acted as exclusive financial advisor to Deloitte France on the disposal of a majority stake in its In Extenso accounting services to the operating partners of the Company alongside Crédit Agricole Centre-Est
In April 2019, Deloitte France, a leading global provider of audit and assurance, consulting, financial advisory, risk advisory, tax and related services agreed to sell its entity In Extenso (“the Company”), the 3rd leading accounting services provider in France, to its operating partners alongside Crédit Agricole Centre-Est.
Rationale
Founded in 1991 and headquartered in Lyon (France), In Extenso is a leading accounting services provider in France benefitting from an extensive and large nationwide network, deeply rooted in its local territories (i.e. 255 sites and over 100,000 corporate clients).
In Extenso focuses on Very Small Businesses (“VSBs”) and Small & Medium Enterprises (“SMEs”) offering them a complete and integrated range of services to help them run their businesses.
Initially focused on accounting services, the Company has over the years extended its services offering to answer its clients’ needs, including book-keeping activities (accounting services, social & wages services, audit, operating management, tax and legal assistance) and advisory & digital activities. In 2018, In Extenso recorded revenues of €396m and numbered over 5,000 employees including 220 operating partners.
Deloitte is a leading global provider of audit and assurance, consulting, financial advisory, risk advisory, tax, and related services. With more than 150 years of successful achievements, Deloitte numbers today approximately 312,000 professionals operating in more than 150 countries and providing extensive and diversified advisory services. Deloitte serves four out of five Fortune Global 500 companies.
Deloitte France offers a large and diversified range of advisory services enabling it to answer the challenges of its clients of all sizes and in all sectors. Supported by the expertise of its 6,900 partners and managers, Deloitte France is a key player in the French advisory market.
Credit Agricole is one of the leading French financial institutions and one of the top banking operators in Europe. In addition to its retail banking services, Credit Agricole offer a diversified range of financial services to its retail and corporate clients (leading European asset manager, first bank insurer in Europe, and third largest European operator in project financing).
Supported by its 141,000 employees worldwide, Crédit Agricole serves more than 51 million customers across 47 different countries, encompassing multinationals, SMEs, farmers, artisans, associations, communities, families and individuals.
Crédit Agricole’s ownership structure enables it to approach development with a view to long-term value creation. Together, the regional banks composing the network of Crédit Agricole, have long-term control over most of Crédit Agricole’s capital via SAS Rue la Boétie (56.3% share capital). This stable ownership structure enables Crédit Agricole to pursue a long-term policy of sustainable, profitable growth.