Following the press releases issued on 19 and 25 June, ARES Group announces that it has concluded the following disposals: Adequat to the D.FI Group, Databail to Econocom and its RMS (Network, Mobility and Security) activities to INEO Com, a subsidiary of INEO, GDF SUEZ Group.
These disposals come at a time when ARES, which has been in receivership since 21 July, is continuing its observation period. They are an integral part of the restructuring plan implemented by the Group’s management to turn the company around.
Thus, the Group has just concluded the following disposals:
– ADEQUAT, a company specialising in the sale of IT infrastructures in the IBM environment, taken over by D.FI after a short management lease. The company had a turnover of €64.7 million in 2007/2008 and employed 108 people. This operation will enable D.FI to create a group that is among the leaders in its market, with 300 employees and €150 million in consolidated sales.
– DATABAIL, a company specialising in the financing of IT infrastructures, acquired by ECONOCOM. This entity achieved a turnover of €51.8 million for the 15-month period ended 31 March 2008. Through the Databail offering, which includes scalable leasing and asset management, Econocom (€700 million in revenue in 2007), a European services company specialising in IT and telecoms infrastructure management, will strengthen its IT Financial Services business in France, in line with its development plan.
– The RMS division, the business of Networks, Mobility & Security (106 employees), comprising expertise, integration, maintenance and associated services (€33.9M in turnover in 2007/2008). This business unit has been sold to INEO Com, a subsidiary of INEO, GDF SUEZ Group, which, through this operation, is completing its range of solutions and services. With 300 locations in France, this French leader in electrical installation, information systems, communication systems and related services, has 14,000 employees and generated
2 billion in 2007.
After successfully completing the various divestments in the space of a few months, the Group is continuing its efforts to improve productivity and reduce costs. The company is continuing to analyse the situation and possible options, and will inform the market of the outcome of the receivership procedure. ARES is now focusing on its new scope of activities with higher added value through 3 business lines: services (ITS), integration of technical solutions (SIT) and applications (ISA), and is aiming for a turnover of €100 million and around 1,300 employees.
