Isatis injects €7m into Foederis

Greg Gille
04 October 2017

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French GP Isatis Capital has invested €7m in HR software business Foederis.

Foederis intends to use the fresh funding to develop along three main axes: to consolidate its footprint in the French market; to develop internationally; and to accelerate the commercialisation of its product offering targeting smaller businesses.

It stated it would look to make a number of hires to support these three priorities, with a view to doubling turnover within three years.

The fundraising round was intermediated by Clipperton Finance on behalf of Foederis.

Isatis is a former direct buyout arm of BNP Paribas Private Equity, and was spun out in 2013. It currently manages €330m across a number of retail and institutional funds.

In November last year, Isatis held a first close on €42m for its Crescendo fund, an FPCI-type fund based in France – it is the first fund targeting institutional investors launched by Isatis. The GP said it would subsequently hold a second and final close in Q3 2017, targeting €100m of commitments with a €120m hard-cap.

Previous funding
In December 2011, Societe Generale Capital Partenaires (SGCP) led a buyout for Foederis. It acquired a 20% stake in the company, with management securing the remainder of the shares. It is unclear at this stage whether SGCP is still invested in the business.

Company
Founded in 1986, Foederis develops talent management software for human resource managers. The platform covers areas including recruitment, personal development and payroll.

The Dardilly-based company employs 80 staff.

People
Isatis Capital – Bertrand Limoges (managing partner); Charles Collin (chargé d'affaires).

Advisers
Equity – Grant Thornton, Emmanuel Riou, Emilie Descroix, Tanguy Guilbaud (financial due diligence); Latournerie Wolfrom Avocats, Caroline Basdevant-Soulié, Guillaume Ledoux (legal); Bonna Auzas, Sigmund Briant (legal).
Company – Clipperton Finance, Thomas Neveux, Caroline Landré, Justine Meunier (corporate finance); Requet Chabanel, Guillaume Cacarie, Pierre Rigaud, Morgane Pages (legal, tax).