IK acquires controlling stake in Questel

Alessia Argentieri
05 April 2018

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IK Investment Partners has agreed to acquire a controlling stake in Paris-based intellectual property advisory business Questel, Unquote understands.

The fresh capital will be used to support the international expansion and external growth strategy of the company.

Unquote understands that the GP is financing the investment by deploying capital from its IK VIII Fund, which held a final close on its €1.85bn hard-cap in November 2016.

French GP Raise, which already owns a stake in the company, will reinvest in the business to extend its holding, while Capzanine will provide a unitranche facility to support the transaction. Questel CEO Charles Besson will stay on with the company and reinvest in the business.

Previous funding
In June 2015, Raise and mezzanine provider Capzanine backed the secondary buyout of Questel from Syntegra, in a deal that valued the company at €55m, according to Unquote Data. Syntegra bought a 52% stake in Questel in 2008 for €80m, while management and employees acquired a 30% stake and the founding family retained a 10% shareholding.

Company
Founded in 1978 and headquartered in Paris, Questel is an intellectual property advisory business that provides international filing, document delivery, patent drafting and defensive publication. It also offers a collection of intellectual property databases, and consulting and legal advice, as well as online and on-site training.

The business works with 3,000 companies in more than 30 countries, has reached 100,000 users worldwide and has offices in London, Washington, Tokyo and Beijing. In 2017, Questel generated revenues of €45m and expects to reach an EBITDA of €18m in 2018, Unquote understands.

People
IK Investment Partners – Dan Soudry (managing partner); Rémi Buttiaux (partner).
Questel – Charles Besson (CEO).

Advisers
Equity – EY (corporate finance); AT Kearney (commercial due diligence); Willkie Farr & Gallagher (legal).
Company – DC Advisory (corporate finance); Eight Advisory (financial due diligence); K&L Gates (legal); Arsene Taxand (tax).