Extens et al. take majority stake in Snal

The deal enabled the exit of Snal's previous owner Selium Invest, a private investment firm managed by entrepreneur Antoine Héral. Snal's management team, led by Gaël Fierro and Sébastien Edel, is taking a minority stake alongside the three new investors.

Extens, Capital Croissance and BPI France together hold around 75% of the group's equity. Selium had supported Snal for the last three years and held around 80% of the business.

Launched in 2014, Extens focuses on supporting businesses within the healthcare sector through their digital transition. The entity typically invests €1-7m equity tickets in SMEs with a turnover within the €1-20m range.

Meanwhile Capital Croissance, 80% funded by private investors, invests between €2-15m in French SMEs with revenues of €3-50m looking to expand domestically and abroad.

Snal will pursue its growth mostly by way of external acquisitions, the GPs said in a statement, and will work on the improvement of its current technology.

Debt
The transaction was supported by a senior debt package provided by CIC.

Company
Founded in 1990, Snal develops software for freelance nurses. The group reports around 7,000 users for its platform www.logiciel-infirmier.pro. The platform enables users to create patient files, organise activities and meetings, generate invoices and exchange documents remotely.  

Based in Ensisheim in eastern France, Snal currently generates around €5m in revenues.

People
Extens Développement e-Santé – Quentin Jacomet (managing partner); Arnaud Houette (CEO); Cédric Berger (operating partner). 
Capital Croissance – Cédric Boxberger (partner); Maxime Peronnin (associate). 
BPI France – Axel Piriou (senior consultant); Julie Régnier (analyst). 

Advisers
Equity – Advance Capital, Olivier Poncin, Thomas Bettan, Mehdi Adyel, Jean-Charles Rousseau (financial due diligence); Care Insight, Sandrine Degos, Cécile Lagardère, Laure Jallet (commercial due diligence); Make it Work, Frédéric Thomas (IT due diligence); Astura, Matthieu Mélin, Raphaël Dalmas, Robin Le Marois (IT due diligence); Chammas & Marcheteau, Nicolas Lecocq, Jérôme Chapron, Jean-Baptiste Deprez (legal).
Vendor – DDA & Company, Alexandre Odin, Thomas Glasgow, Nhu Quynh Van Ngoc (corporate finance); Lamartine Conseil, Maxime Desquene, Pierre Lagresle, Maeva Suire (legal).

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• BPI France
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