Cegos acquires Crescimentum, one of Brazil s leading training companies
The Cegos Group is pursuing its international development strategy with the acquisition of Crescimentum, Brazil’s leading leadership training provider.
After the successful establishment of operations in Chile and Mexico since 2015, the acquisition of a majority stake in the capital of this young company, which has been growing strongly 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 strengths of the Cegos Group and Crescimentum are highly complementary, both in terms of corporate culture and the expertise and solutions offered to clients.
Currently present on all continents (directly in 11 countries and in more than 50 countries through its network of partners and distributors), the Cegos Group provides Crescimentum with the foundation and scope of an international group.
Crescimentum will also be able to benefit from Cegos’ digital learning capabilities:
– Access to the online learning platform LearningHub@Cegos which has already attracted more than 250,000 users worldwide;
– Full digital training offer: 3,000 digital training assets, catalogue of multilingual digital learning modules, #UP skills acquisition collection;
– Proven e-services and digital marketing.
Boasting a premium positioning, Crescimentum is the Brazilian market leader in leadership and management training and is recognized locally for the quality of its content and training programmes. Crescimentum thus brings to the Cegos Group its understanding and experience of a Brazilian market with very high economic potential (a higher GDP growth compared to mature 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 synergies are expected, particularly in terms of international training projects, both with Cegos’ locations in Latin America (Chile and Mexico) and because of the presence of a lot of European companies which are already supported by Cegos.
With Crescimentum’s top management remaining in place, this managerial continuity is an additional guarantee of success for this operation.
José Montes, Cegos Group Chairman, explains that:
“With this acquisition, the Cegos Group extends its regional coverage in Latin America and takes a position at the heart of the 8th largest global economy, which is beginning a promising upturn in economic terms. Brazil and its metropolises have entered an era of economic and societal transformations that are revolutionizing jobs and skills. This acquisition will see us directly support companies and their teams in these challenges, with the ambition we have defined for our Group: transforming skills into performance.”
Arthur Diniz, co-founder and CEO of Crescimentum, adds:
“By joining the Cegos Group, Crescimentum is expanding the range of solutions offered to its clients in Brazil. We are thrilled to share with Cegos our common experiences on commercial strategies, marketing and digital solutions: this will be a great opportunity to improve the learning experience we propose to our customers and thus meet their needs in terms of human development and corporate training. Besides, Crescimentum will now be able to propose its leadership development expertise at a global scale.”
This acquisition is in line with the external growth strategy that Cegos began five years ago to participate in the consolidation of the L&D market in Europe and around the world: acquisition of Integrata-Cegos (Germany’s leading training company) in 2015, opening of a Latin American hub with offices in Chile and Mexico in 2016, acquisition of the Cimes Group (leader in the training outsourcing market in France) in 2017.
With this acquisition, the Cegos Group, which in 2019 had consolidated revenues of 200 million euros, will keep its investment capacity intact.