Affero Lab

completed

AfferoLab is a privately-held professional services company focused on training, personnel development, and e-learning solutions for its corporate clients. These include major Brazilian companies and multinationals operating in Brazil ranging across multiple sectors throughout the country. Due to the global reach of some of their clients, AfferoLab has also carried out training programs or provided client solutions abroad. Based in Rio de Janeiro, São Paulo, and Juiz de Fora, AfferoLab''s employees deliver training at their clients’ offices or in rented facilities (on average classes comprise between 25 and 30 trainees, but they have held events where 100, 400, and even 1,000 people were trained) and design and develop the training at the company''s own facilities, which consist entirely of rented commercial space within buildings owned by others in consolidated urban areas. AfferoLab arose from the 2013 merger of Affero and Lab SSJ. The company is primarily owned by its founders and senior managers; a Brazilian private equity fund, Bozano Investimentos, has a minority stake. IFC''s proposed equity investment of up to USD 20 million and a up to USD 10 million loan would help to finance AfferoLab''s continued expansion and consolidation both in Brazil and potentially abroad. The total staff was 703 at the time of the IFC''s appraisal, the vast majority of whom are direct-hire employees of the company. In addition, AfferoLab relies on third-party workers for outsourced IT and other technical support, housekeeping, unarmed security, and similar services. AfferoLab''s corporate structure consists of the parent company, Affero Lab Participações SA and its controlled subsidiaries, together referred to as the “Group.” The analysis provided below and action items in the agreed ESAP apply to the whole Group.