Ixo backs Gamma Software's MBO

Ixo was accompanied by Lyon-based family office Delore & Associés in the transaction. Together, the investors acquired a minority share alongside manager Alexandre Buffard.

As a result of the transaction, Buffard became the majority shareholder in the company, while the two founders have reduced their stake in the business.

Ixo will support the company's growth strategy by reinforcing teams, accelerating product innovation and developing the company's offering with larger clients.

The transaction is part of Ixo's expansion strategy in the French Rhône-Alpes region.

Company
Gamma is a Lyon- and Pierrelatte-based company creating, developing and commercialising software. Its main product is WinLassie, a software intended for businesses and organisations to manage HR, health, safety and environment at work in accordance with administrative and legal requirements. WinLassie is used by 2,500 companies in 12 different countries, with a total of 20,000 users.

The company initially targeted businesses in the nuclear industry, and has now opened up to other sectors, both public and private. It currently employs 25 people spread between its two sites in Lyon and Pierrelatte. The company predicts a €2.5m turnover for 2016.

People
Ixo Private Equity – Alexandre Sagon (associate director); Rémi Chériaux (investment director).

Advisers
Equity – Axens, Benoît Perin (financial due diligence); Quadratur Avocats, Gilles Fresel, Jocelyne Fresel (legal).
Vendor – Atout Capital, Eric Parent, Charles Billiald (M&A); Delsol Avocats, Emmanuel Kaeppelin, Anne-Laure Rivat (legal).

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