Cegos pursues its international expansion with the acquisition of Crescimentum, one of Brazil's leading training companies
The Cegos Group, aninternational leader in Learning & Development, is pursuing itsinternational development strategy with the acquisition of Crescimentum,Brazil's leading leadership training provider.
After the successfulestablishment of operations in Chile and Mexico since 2015, the acquisition ofa majority stake in the capital of this young company, which has been growingstrongly over the past three years (€7.7 million in turnover in 2019, up 31%),will enable the Group to strengthen its presence in Latin America.
The strengthsof the Cegos Group and Crescimentum are highly complementary, both in terms ofcorporate culture and the expertise and solutions offered to clients.
Currentlypresent on all continents (directly in 11 countries and in more than 50 countriesthrough its network of partners and distributors), the Cegos Group provides Crescimentum with the foundation and scope ofan international group.
Crescimentum will also beable to benefit from Cegos' digital learning capabilities:
- Access to the online learning platformLearningHub@Cegos which has already attracted more than 250,000 usersworldwide;
- Full digital training offer: 3,000 digital training assets,catalogue of multilingual digital learning modules, #UP skills acquisitioncollection;
- Proven e-services and digital marketing.
Boastinga premium positioning, Crescimentumis the Brazilian market leader inleadership and management training andis recognized locally for the quality ofits content and training programmes. Crescimentumthus brings to the Cegos Group its understanding and experience of a Brazilianmarket with very high economic potential (a higher GDP growth compared tomature economies, more than 100 million people working in the country…) and its portfolio of major international clients(Carrefour, Honda, Huawei, Jaguar Land Rover, Microsoft, Nestlé,Saint-Gobain, Uber, Whirlpool, etc.).
Lastly, strong business synergiesare expected, particularly in terms of international training projects, bothwith Cegos' locations in Latin America (Chile and Mexico) and because of the presenceof a lot of European companies which are already supported by Cegos.
WithCrescimentum's top management remaining in place, this managerial continuity isan additional guarantee of success for this operation.
José Montes, Cegos GroupChairman, explains that:
“With this acquisition, theCegos Group extends its regional coverage in Latin America and takes a positionat the heart of the 8th largest global economy, which is beginning apromising upturn in economic terms. Brazil and its metropolises have entered anera of economic and societal transformations that are revolutionizing jobs andskills. This acquisition will see us directly support companies and their teamsin these challenges, with the ambition we have defined for our Group:transforming skills into performance.”
Arthur Diniz, co-founder andCEO of Crescimentum, adds:
“Byjoining the Cegos Group, Crescimentum is expanding the range of solutions offeredto its clients in Brazil. We are thrilled to share with Cegos our commonexperiences on commercial strategies, marketing and digital solutions: thiswill be a great opportunity to improve the learning experience we propose toour customers and thus meet their needs in terms of human development andcorporate training. Besides, Crescimentum will now be able to propose its leadershipdevelopment expertise at a global scale.”
Thisacquisition is in line with the external growth strategy that Cegos began fiveyears ago to participate in the consolidation of the L&D market in Europeand around the world: acquisition of Integrata-Cegos (Germany's leadingtraining company) in 2015, opening of a Latin American hub with offices inChile and Mexico in 2016, acquisition of the Cimes Group (leader in thetraining outsourcing market in France) in 2017.
Withthis acquisition, the Cegos Group, which in 2019 had consolidated revenues of200 million euros, will keep its investment capacity intact.