Cathay Capital, BPI France buy NeoXam in SBO

A spokesperson for Cathay confirmed that the GP is the majority shareholder, while BPI France has acquired a minority stake. Management also invested.

Cathay invested via its Sino-European Mid Cap fund, closed in 2014 on €500m. The vehicle provides tickets in the €25-75m range and NeoXam represents the fund's largest investment, Unquote understands.

Under Cathay and BPI's ownership, NeoXam intends to expand internationally, particularly in Asia-Pacific and the US.

Previous funding
BlackFin led the carve-out of GP3 and Decalog from parent-company SunGard in 2014. The GP then merged GP3 and Decalog into a new entity called NeoXam.

A spokesperson for BlackFin confirmed that it had acquired a substantial majority in the business, while management retained a minority stake of less than 20%.

BlackFin Financial Services Fund was used to finance the transaction. The fund provides equity tickets in the €5-30m range, according to Unquote Data.

Company
Founded in 2014, NeoXam is a software company providing data management and transaction services to financial institutions, both on the buy-side and sell-side. It claims to serve 150 clients, totalling 10,000 users, based in 25 countries. The business generates revenues of €62.5m and employs 420 people.

With headquarters in Paris, it operates facilities in the US, China, Singapore, Germany, Italy, Luxembourg, Switzerland, Tunisia and South Africa.  

People
NeoXam – Serge Delpla (founder, CEO).  
Cathay Capital – Hervé Descazeaux (partner).
BPI France – Benoist de Saint Lager (investment director).
BlackFin Capital Partners – Laurent Bouyoux (chair).

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