Essling invests €16m in Evolucare Group

The growth investment is the first for the Essling Expansion fund, which recently held a first close on €100m. The GP has set a €250m target for the vehicle, which will invest in 10-12 fast-growing small- and lower-mid-cap companies in the digital and healthcare sectors. It is currently backed by family offices, high-net-worth individuals and institutional investors.

On top of the GP's backing, the business has received €10m of debt financing from Crédit Agricole Brie-Picardie, Caisse d'Epargne Hauts de France and BPI France, which have historically supported the company, Unquote understands. 

The GP intends to support Evolucare in its build-up strategy, the diversification of its products, international expansion of activities and development of technological innovation.

Company  
Founded in 1988 and based in Amiens, Evolucare Technologies publishes medical software for healthcare institutions. The group's software is used to monitor patient condition, for example via computerised patient files.

Evolucare generated sales of €23m in 2018 and posted an EBITDA of €3m, Unquote understands. The business says its products are used by around 1,900 institutions in France and abroad.

People
Essling Expansion - Bertrand Fesneau, Rémi Matuchansky (co-managers); Bertrand Fesneau (managing director). 
Evolucare Group - Elie le Guilcher (CEO). 

Advisers 
Equity - Exelmans, Stéphane Dahan, Richard Dahan (financial due diligence); Charles Russell Speechlys, Thibaut Caharel, Renaud Ferry (legal); Cornet Vincent Segurel, François Herpe (legal); CMI, Nicolas Kandel, Simon Colboc (commercial due diligence). 
Management - Ryder and Davis, Alexis Delb, Frédéric Danel (financial due diligence); KPMG, Antoine Bernabeu (financial due diligence); Thémis, Siham Belarbi, Xavier Roguet (legal). 

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