Scotto Partners is advising the Adista Group's management team on a second LBO

Keensight Capital is taking over from Equistone PE and becoming the new majority shareholder of Adista, the leading alternative B2B managed services provider, alongside the Franco-Emirati Fund (FEF), the co-investment partnership between Mubadala and Bpifrance. The transaction also includes a significant reinvestment by the management team led by Patrice Bélie.

Adista, a specialist in IT and telecommunications services, supports the digital transformation of a diverse client base—comprising private-sector entities (SMEs, mid-market companies, and large enterprises) and public-sector entities (hospitals and local governments)—with a comprehensive range of services. In particular, Adista offers private and public cloud solutions, managed services, fixed and mobile telecommunications solutions integrated with its interconnection networks as well as telephony and collaboration services, the expertise of its cybersecurity division, and the ability to develop application and web projects. Adista operates its own data centers, located throughout France.

With more than 720 employees and a network of 35 branches across France, Adista is one of the undisputed leaders in the B2B cloud and connectivity market. Including the acquisitions of Fingerprint Technologies in July 2020 and Waycom in February 2021, Adista generated combined revenue of 153 million euros for the 12-month period ending December 31, 2020, and expects to reach 300 million euros by 2025.

Patrice Bélie, President of Adista, said: “We are delighted to welcome Keensight Capital as a majority shareholder and partner in the next stages of Adista’s development. This transition is a natural next step for the company, which has doubled its revenue since 2016 and aims to do so again by 2025. On behalf of the Adista teams, we would like to thank Equistone for what we have accomplished together over the past few years and warmly welcome Keensight Capital as we write the next chapters in the Adista Group’s history.”

Completion of the transaction is subject to standard terms and conditions.

As part of this secondary LBO, Adista’s management team was advised by Scotto Partners, with a team led by Isabelle Cheradame and Claire Revol-Renié (partners), assisted by William Durocq-Ferré and Abdallah Ktiri on corporate matters, Jerôme Commercon ( partner), supported by Martine Le Roux, Pierre-Henri Abadie, and Loïc Pipaud on tax matters, as well as Bertrand Thibaut (counsel) and Alban Tourneux on employment law.

Keensight Capital was advised by Paul Hastings. Equistone PE was advised by Goodwin.