Andera-backed Xelians management team completed the acquisition of a majority stake in Xelians from Montefiore Investment.

Andera-backed Xelians management team, led by chairman Jacques Thibon, completed the acquisition of a majority stake in Xelians, a document archiving and processing company, from Montefiore Investment, a private equity firm dedicated to service SMEs and mid-market companies. Financial terms were not disclosed. “The exit of Montefiore and the capital takeover by Management alongside Andera, another leading Private Equity player, is a new step that demonstrates the confidence of the team and the market in the Group’s strength and its development prospects. Xelians has the resources and stability that will allow it to pursue its digital growth projects and strengthen its position in its markets,” Jacques Thibon and Jérôme Pariscoat, Xelians Chairman and CEO.