Capza acquires a minority stake in Audensiel

Capza acquired a stake of less than 35%. The valuation of the business is in the €50-100m range, Unquote has learned.  

The management team has retained the remaining majority stake in the business, Unquote understands.  

The GP used its Capzanine 4 Flex Equity vehicle for the transaction. The fund, closed in 2016 on its €350m hard-cap, backs French SMEs with turnovers of up to €150m, providing a mix of equity and mezzanine debt.

Senior debt for the transaction was provided by Societe Generale.   

The GP will support Audensiel in expanding its existing activities, developing new sectoral verticals, opening new offices in France and abroad (including Spain and Canada), and pursuing an opportunistic buy-and-build strategy.

Company
Founded in 2013 and based in Boulogne Billancourt, Audensiel is a digital consultancy focusing on areas including R&D engineering projects (onboard systems, robotics, processes, industrial site automation), digital transformation consulting (design and implementation of mobile applications, big data, AI), and organisational consulting.

Audensiel serves companies from the automobiles, aerospace, defence, security, e-commerce, finance and healthcare sectors, among others. The company expects to generate €40m in sales in 2019 and it employs 450 people in 12 geographical locations in France and Europe.

People
Capza – Maxence Radix (partner).
Audensiel – Nicolas Pacault (CEO).  

Advisers
Equity – Gaftarnik Le Douarin & Associés, Mickael Levi, Sarah Mobtahij (legal, tax); Bonna Auzas, Sigmund Briant, Jean Cagne (legal); Mamou & Boccara, Laurent Mamou (tax); Eight Advisory, Fabien Thièblemont, Corentin Bélard (financial due diligence); Neovian Partners, Patrick Richer, Victor Réal (commercial due diligence).
Company – Cambon Partners, Laurent Azout, Jonathan Journo, Florian Grison (M&A).
Management – Solon, Jérémie Chouraqui, Matthieu Vincent (commercial due diligence); Arsène Taxand, Brice Picard (tax).

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• Topics
• France
• Buyouts
• Industrials
• France
• Capzanine