Quadient: Bpifrance takes a c.5% stake in Quadient’s capital to support its transformation and development strategy
Bpifrance takes a c.5% stake in Quadient’s capital to support its transformation and development strategy
Paris, 27th July 2023 – Bpifrance announces that it holds c.5% of Quadient's capital and voting rights. This investment is in line with Bpifrance's strategy to support French companies undergoing transformation and positioned in promising fast-growing activities. By acquiring a stake in Quadient’s capital, Bpifrance is demonstrating its confidence in the Company's development strategy in key attractive markets.
An innovative B-to-B subscription platform, Quadient powers billions of essential business transactions every day, such as payments, invoices, statements, medical records, parcels, mail, insurance policies, contracts and more. The Company has leveraged its solid base of over 440,000 historical customers to diversify its service offering and create an integrated set of solutions generating strong synergies and cross-selling opportunities.
Believing in Quadient's growth potential, in the strength of its integrated business model, and in the ability of its management and Board of Directors to pursue its transformation plan, Bpifrance intends to make a long-term commitment to the Company in order to support and accelerate its development. This investment comes at a key moment in Quadient's history, as the company is currently in the final year of its Back to Growth strategic plan.
In this context, Bpifrance plans to continue purchasing Quadient shares, depending on market conditions, with the aim of holding at least 8% the Company’s capital. If this 8% threshold is reached, Bpifrance will propose the appointment of Bpifrance Investissement as an independent director at the next Annual General Meeting, in accordance with the terms of an agreement signed between Quadient and Bpifrance, and in compliance with the Company’s governance rules and appointment process in place.
In line with its commitment as a long-term shareholder, Bpifrance undertakes to support Quadient's overall strategy within the Board of Directors and at the Annual General Meeting, and to consider any capital reinvestment opportunities that may be proposed by the Company. In addition, Bpifrance has agreed to hold on to its Quadient shares for a period of three years, and to purchase or subscribe for Quadient shares only up to the limit of 15% of Quadient's share capital and/or voting rights.
Nicolas Dufourcq, CEO of Bpifrance, said: “We are delighted that Bpifrance has become a reference shareholder in Quadient, a Company that has embarked on a promising transformation and has positioned itself in key markets of the future. Bpifrance is thus affirming its long-term commitment to Quadient, convinced that the Group will play an active role in the digital transformation of French companies.”
Geoffrey Godet, CEO of Quadient, said: “We are pleased to welcome Bpifrance to Quadient's capital. Bpifrance brings a wealth of experience from its many investments in leading companies in France, as well as its expertise in the field of technology. As we prepare for the next phase of our strategic plan, Bpifrance's support as a long-term investor and our future collaboration within the Board of Directors will enable us to continue innovate, develop, and grow our business, while delivering significant value to all our stakeholders.”
Didier Lamouche, Chairman of the Board of Directors of Quadient, said: “We are thrilled with the agreement with Bpifrance, and are delighted to welcome a major shareholder with a long-term commitment to support ans help accelerate the Company's strategy. We are convinced that the addition of a new independent Director will strengthen the governance of both Quadient and its Board of Directors.”
About Bpifrance
Bpifrance Investissement is the management company that handles Bpifrance's equity investments. Bpifrance is the French national investment bank: it finances businesses – at every stage of their development – through loans, guarantees, equity investments and export insurances. Bpifrance also provides extra financial services (training, consultancy) to help entrepreneurs meet their challenges (innovation, export…).
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About Quadient
Quadient is the driving force behind the world’s most meaningful customer experiences. By focusing on three key solution areas, Intelligent Communication Automation, Parcel Locker Solutions and Mail-Related Solutions, Quadient helps simplify the connection between people and what matters. Quadient supports hundreds of thousands of customers worldwide in their quest to create relevant, personalized connections and achieve customer experience excellence. Quadient is listed in compartment B of Euronext Paris (QDT) and is part of the CAC® Mid 60 and EnterNext® Tech 40 indices. Quadient shares are eligible for PEA-PME investing.
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Contacts :
| Bpifrance Sophie Santandrea Tél : 17 | Quadient Catherine Hubert-Dorel Tél: 39 / |
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