Andera, BPI France sell A2IA to trade

Mitek's workforce will double in size and the business will extend its digital identity verification capabilities. 

Andera (at the time Edmond de Rothschild Investment Partners) and BPI France backed the management buyout of A2IA in 2014. The company's management team, led by president and CEO Jean-Louis Fages and general manager Olivier Baret, retained a majority stake.

Andera invested via its €112m small-cap fund Cabestan Capital, closed in November 2011. The fund typically provides equity tickets of €1-7m.

CIC and Societe Generale arranged a senior debt package to facilitate the deal. At the time of the MBO, the company was expecting to generate €10m in revenues in 2014 and was employing 70 people.

Company
Founded in 1991 and headquartered in Paris, A2IA develops software allowing document recognition and classification, data extraction, archiving and written-note transcription. The business has around 50 employees and generated a turnover of €12.9m in 2017.

People
A2IA – Jean-Louis Fages (CEO).

Advisers
Company – Cambon Partners (corporate finance); DLA Piper (legal); Willkie Farr & Gallagher (legal).

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• Topics
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• France
• Andera Partners
• Trade sale
• BPI France