Initiative & Finance takes minority stake in Olfeo

The owner buyout sees company CEO and co-founder Alexandre Souillé reduce his stake in the group. However, Souillé will keep a controlling stake, and will continue to lead the company.

With Initiative & Finance's support, Olfeo will aim to accelerate its development through bolt-on acquisitions, strengthening its product offering and further international expansion, according to the new investor.

Debt
The transaction was supported by a senior debt package co-arranged by BNP Paribas and Caisse d'Epargne Ile-de-France.

Company
Co-founded in 2003 by current CEO Alexandre Souillé, Olfeo is a cybersecurity software publisher providing proxy and web filtering for businesses and the public sector.

The group's security services enable organisations to manage internet access and usage and protect their infrastructure against cyberattacks while remaining compliant with local legal and regulatory environments, as well as cultural specifics.

Headquartered in Paris, the group currently employs 60 people with revenues close to €8m, according to Clipperton, which advised the GP on the transaction.

People
Initiative & Finance – Matthieu Douchet (director); Camille Grosfilley (investment manager).

Advisers
Equity – Clipperton Finance, Nicolas Von Bülow, Thibaut Revel, Augustin Blanchard, Olivier Combaudou, Paul Bolardi (corporate finance); Mazars, Pierre Beluze, Xavier Klein, Matthieu Carrillo; Lamartine Conseil, Stéphane Buffat (tax); Sophie Brault (environmental due diligence); Olivier Renault, Maeva Suire, Aude Marcheux (legal). 
Vendor – Jones Day, Renaud Bonnet, Alexandre Wibaux (legal).

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