Ardian takes minority stake in Sarbacane Software

Ardian invested through its Ardian Growth arm – last year, the GP closed its latest growth investment vehicle, Expansion Fund IV, with €1bn in commitments. At twice the size of its predecessor, the vehicle typically commits investment tickets of around €50-60m with an initial investment capacity of up to €100m, taking majority and minority investments in companies valued at up to €225m.

Current portfolio companies for Expansion IV also include Diam International, Ionisos, Lagarrigue and Schwind Eye-tech Solutions, all acquired last year. In the past month, Ardian also added minority stakes in pharmaceuticals retailer Santédiscount and architecture software developer Abvent to the portfolio.

Ardian Growth will focus on helping the business expand internationally, especially in southern Europe, including in Spain where it already has an established presence. Build-up opportunities will also be considered, the GP added.

No debt was invovled in the current deal. 

Company
Founded in 2001, Sarbacane specialises in digital marketing. The business operates via two brands: Sarbacane in France and Mailify for international markets. Its product range includes SMS marketing tool Primotexto and email management tools Tipimail and Jackmail.

Sarbacane Software is managed by CEO Mathieu Tarnus and is based in Hem, near Lille, with offices in Barcelona and New York. It has 80 employees and around 10,000 customers worldwide, and currently makes around €10m in revenues.

People
Sarbacane Software – Mathieu Tarnus (CEO).  
Ardian Growth – Geoffroy de La Grandière (director); Bertrand Schapiro (senior investment manager).

Advisers
Company – Bignon Lebray, Thomas Buffin (legal).
Equity – De Gaulle Fleurance & Associés, Nicolas Chazarain (legal); KPMG, David Martinet, Antoine Bernabeu (financial due diligence).

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• Topics
• Expansion
• France
• Technology
• France
• Ardian (formerly Axa PE)