Essling invests in mobility specialist Ubitransport

The company raised €45m, including Essling's equity injection – which represents around 50% of the total – and debt financing provided by a pool of banks led by Crédit Agricole Centre-Est.

The GP deployed capital from its Essling Expansion fund, which was launched with a €250m target and held a €100m first close in February 2019. Unquote understands that the fund's commitments have reached more than 50% of the target and a second closing is expected in the first half of 2020.

The vehicle is a small- and lower-mid-cap fund, targeting high-growth companies in the digital and healthcare sectors. This is the second deal inked by Essling Expansion, following its €16m investment in France-based Evolucare, a developer of medical software for healthcare institutions, signed in February 2019. 

Ubitransport intends to use the fresh capital to boost its international expansion, strengthen its market position and pursue a buy-and-build strategy via additional acquisitions.

Company
Established in 2012, Ubitransport provides a cloud-based, digital transportation platform to help optimise passenger transport networks, manage school and employee transportation, improve vehicle routes and organise passengers' day-to-day travel. The company is headquartered in Mâcon, France, with additional offices in Canada and the US, and employs 55 staff. It expects to generate revenues of €14m in 2019.

People
Essling Expansion – Bertrand Fesneau, Rémi Matuchansky (co-heads).
Ubitransport – Jean-Paul Medioni (CEO).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Expansion
• France
• Technology
• Essling Capital
• France