Meeschaert CP backs ID Systemes SBO

Meeschaert CP is investing via its €200m Meeschaert Private Equity Fund, which closed in 2016 and provides tickets in the €10-40m range, Unquote has learned.

The transaction is a BIMBO and Christophe Morizot has been appointed as the new president of the company. 

The GP has invested in the business alongside the management team, acquiring the company from Capital Croissance and MB Industries, its previous owners. It will help ID Systemes continue modernising its offering with a transition to a software-as-a-service model, perform acquisitions and expand internationally.

Meeschaert CP traditionally focused on lower-mid-cap businesses, but it launched a small-cap strategy in September. The GP is currently fundraising a small-cap fund with a target of around €100m, according to a statement. The fund will provide tickets of €4-10m to companies with a turnover of less than €50m, Unquote understands. Equity is more than 50% of the transaction. 

Asset management group Meeschaert launched its PE arm, Meeschaert Capital Partners, in 2012.

The deal is currently being financed via senior debt provided by a bank. The GP is currently in talks with a private debt fund for an acquisition line to facilitate future buildups. 

Previous Funding
Capital Croissance acquired a 75% stake in the business in Q1 2017, investing via its Cairn Capital fund, which closed on €75m in 2013. At the time, the company employed 100 people and generated €100m in revenues.

Company 
Founded in 1987 and headquartered in Bruges, near Bordeaux, ID Systemes is a developer of management software for wine and spirit producers. The group's clients include distillers, including Castel Freres, Boisset la Famille des Grands Vins, Les Grands Chais de France, Groupe Thienot and Pernod Ricard. The company currently employs 158 people and generates revenues of €15m. 

People
Capital Croissance – Eric Neuplanche (managing partner); Fabrice Fleury, Maxime Peronnin (partners).
Meeschaert Private Equity – Francois Tranie, Herve Fonta, Andre Renaison (partners).
ID Systemes – Christophe Morizot (president).

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