Private equity firms Apax Partners and Altamir have sold their stakes in engineering services business Altran to Capgemini.
Apax Partners and Altamir became shareholders in Altran in 2008. Since then they have supported the firm's development strategy, which has included establishing a significant position in the US market, creating its GlobalShore business and moving toward the management of large, outsourced R&D projects for prominent customers.
In 2018 they also supported Altran's transformational acquisition of US company Aricent for $2 billion (£1.79 billion).
Altran’s revenues have risen from €1.65 billion (£1.48 billion) in 2007 to nearly €3 billion (£2.69 billion) in 2018 and it currently employs around 47,000 people in more than 30 countries.
Gilles Rigal, Partner at Apax Partners, said: “Altran became an undisputed worldwide leader during our ownership period. The tie-up with Capgemini will create a global player with a unique combination of expertise, enabling Altran to consolidate its leadership in the market of engineering services and R&D.”