Ardian sells Clip Industrie to Forterro

Forterro, which has been backed by Battery since 2012, already owns a number of enterprise resource planning (ERP) software editors around the world, which cater to the small and mid-markets, according to Ardian. 

Battery stated its long-term relationship with Ardian, and its track record within the software sector, were key in helping it win the deal, and enabled it to work on a direct process with the seller.

Battery acquired Jeeves Information Systems back in 2012. In 2014, the GP bolted on Switzerland-based entity SolvAxis to the group, with Forterro set up as the holding company for the buy-and-build platform.

Clip Industrie's current CEO Arnaud Martin will maintain his position and will work with Battery to keep supporting the company's expansion.

During its holding period, Ardian applied a buy-and-build strategy, completing a number of acquisitions, including that of software publisher Helios in 2013. The GP claims that Clip Industrie doubled its revenues with its backing as it helped its transition from a European player to a global one. 

Each employee will receive an undisclosed bonus payment on the basis of the value created during Ardian and Clip Industrie's collaboration, the GP said in a statement.

Previous funding
In 2013, Ardian acquired a 15% stake in Clip Industrie via its Ardian Growth arm, which supports small to mid-sized businesses with a turnover between €5-100m.

Company
Founded in 1988, Clip Industrie develops and publishes Clipper and Helios, two computer-aided production management system for industrial SMEs in the aeronautic, automotive, medical, rail and watch-making sectors. Its customers include international clients such as Michelin, the US Air Force, Eiffage, Airbus and Dassault.

Based in Aix-en-Provence, the company has developed a presence across central and eastern Europe and north Africa. It currently employs around 80 people and has revenues approaching €10m.

People
Ardian – Geoffroy de La Grandière (director, Ardian Growth); Bertrand Schapiro (senior investment manager).
Battery Ventures – Morad Elhafed (partner).

Advisers
Vendor – Hoche Avocat, Laurent Bensaid, Veronique Gédéon (legal); Grant Thornton, Marc Claverie, Anissa Ghaouti (corporate finance).

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