Isatis backs Daveo's MBO with €3m

The deal marks the first time Daveo has raised capital from external investors since its inception eight years ago, enabling the exit by two of the group's founders. 

Company executives Mathieu Delin, CEO, and Cyril Harpoutlian, associate director, will become the main shareholders following the transaction.

The management buyout was supported by a senior debt package provided by Caisse d'Epargne IDF and Crédit du Nord.

The Crescendo fund, which held a first close on €42m in November this year, is targeting €100m in commitments by Q3 2017. It invests in French SMEs and will continue to support portfolio companies until they become mid-sized companies.

Aiming to use moderate leverage, Isatis is targeting 12-15 investments with a €6m average ticket. Targeted sectors include software, IT, digital, medtech, e-health and care services.

Company
Founded in 1998 and based in Paris, Daveo is an IT consulting company that provides consultancy related to marketing, communications and product development, as well as IT. Its has clients in the services, insurance, banking, media and communications sectors, including Accord, La Banque Postale, Natixis, HSBC, Axa, Orange, TF1.

The company currently generates a €19m turnover and employs 175 people.

People
Daveo – Mathieu Delin (CEO, owner); Cyril Harpoutlian (associate director); Arnaud Menjucq (exiting CEO, founder).
Isatis Capital – Laurent Baudino (associate director); Charles Collin (associate).

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• Buyouts
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• Isatis Capital