Capitem exits Novencia in management buy-back

Zilliox now wholly owns the business, Unquote understands.

Capitem acquired its stake in 2016 using FCPR Capitem I, alongside an unnamed family office. FCPR Capitem I closed on €35m in 2015.

The original buyout saw Capitem and the family office respectively injecting €1m and €500,000 into the business, allowing it to finance the acquisition of domestic peer Odesys in 2016, according to French publication Capital Finance.

Company
Founded in 2004, The Novencia group specialises in IT systems and software consulting for companies in the banking, insurance, media and technology sectors. The company, with 350 employees, expects to generate a €39m turnover in 2019, according to its website. Based in Paris, it has additional offices in Lyon and Tunis.

People
Novencia – Arnaud Zilliox (director).

Advisers 
Company – Veil Jourde, François de Navailles, Maxime Saucaz-Laramé, collaborateur (legal). 
Vendor – Delsol Avocats, Frédéric Subra, Séverine Bravard (legal).

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