Quilvest acquires Eudonet

Naxicap, which had taken a minority stake in the group in 2011, is fully exiting the group after a six-year holding.

Quilvest's equity investment was made through its evergreen fund, a source familiar with the matter told unquote", following a structured sale process.

As part of the deal, Antoine Henry, former head of the Sage France group, will take over from Eudonet's founders Christophe Morizot, Bertrand de La Villegeorges and Guillaume Bouillot as company CEO, and will invest alongside Quilvest. In addition, Fabrice Vernière, formerly part of media group Horizon, has been appointed as CFO.

While the three founders are leaving their executive positions, they will retain a minority stake in the company.

According to Naxicap, Eudonet doubled in size during its holding period, having largely focused on international expansion. At the time of acquisition, the group recorded €6.3m in turnover and employed 54 staff.

With Quilvest's support, Eudonet will accelerate its expansion in France and in other European markets, the GP said in a statement.

Previous funding
In 2011, Naxicap backed the owner buyout of Eudonet, also known as Eudoweb. The company founders and managers Bertrand de la Villegeorges, Christophe Morizot and Guillaume Bouillot kept a majority stake in the business following the deal. Initiative & Finance, which had backed Eudoweb's inception in 2000, exited the business. Naxicap invested through the BP Développement and FIP ISF 2010 vehicles. At the time, Banque Populaire Rives de Paris provided a "moderate" debt package to leverage the GP's investment, unquote" reported.

Company
Established in 2000, Eudonet is a publisher and integrator of generalist and vertical CRM services. Available as SaaS, cloud and and on-premise products, Eudonet's services are available for SMEs, large accounts, chambers of commerce and industry, educational institutions, associations, foundations, professional federations, cultural institutions and public authorities.

The group is headquartered in Levallois-Perret, near Paris, with additional offices in Lyon, Nantes, as well as in Canada and the UK. It claims to be serving more than 900 clients at present, and registers €12.5m in turnover.

People
Quilvest Private Equity – Thomas Vatier (partner).
Naxicap Partners – Gaëlle Tanguy (associate).

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