Ardian backs Eloquant in OBO

The GP has invested €30m in the business, acquiring a substantial minority stake, Unquote has learned. 

The GP's Ardian Growth team will support the company's development in its domestic market as well as internationally.

The team is currently investing via its Ardian Growth II fund, closed on €230m in 2018. The fund completes both minority and majority acquisitions, providing equity tickets in the €5-25m range to digital businesses with a turnover of €5-100m.

BNP Paribas provided debt for the transaction; the deal is deemed lightly leveraged, a person close to the situation told to Unquote. 

Company
Established in 2001 in Grenoble, Eloquant operates a software used to manage customer relations across several communication channels (telephone, email, chat and social networks). The company's software processes and monitors incoming and outgoing contacts, while collecting and measuring customer feedback. Eloquant's clients consist principally of mid-market businesses and large corporations operating in B2B or B2C activities.

According to a statement from Q3 2018, the company employed 85 client relationship experts and generated a €10.9m turnover.

People
Ardian – Romain Chiudini (director); Louise Gros (investment manager).
Eloquant – Laurent Duc (CEO); Raphaël Shalgian (CFO).

Advisers
Vendor – Grant Thornton, Nicolas Tixier, Antoine Van der Borght (financial due diligence); McDermott Will & Emery, Diana Hund, Marie-Muriel Barthelet, Claire Barra, Antoine Vergnat, Côme de Saint Vincent, Pierre-Arnoux Mayoly, Stanislas Chenu (legal).
Company – Oaklins, Véronique Roth, Thibaut de Monclin, Amance Pelissier (corporate finance).
Management – Jeausserand Audouard, Erwan Bordet, Faustine Paoluzzo, Antoine Leroux (legal).

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• Ardian (formerly Axa PE)