Idinvest exits Bimedia to trade in €50m deal

Omnes Capital, which owned a small minority in the business, also exited the investment to FDJ, which became the sole shareholder in the company.

With this acquisition, FDJ intends to accelerate the development of its payment and services business, in line with its 2025 strategic plan, and further invest in the modernisation of its retail distribution network.

Previous funding
Omnes, A Plus Finance and Idinvest invested in Bimedia in September 2015. Omnes secured a stake of slightly less than 60%, while A Plus and Idinvest acquired a minority interest in the business. Omnes used its €210m Omnes Croissance IV fund for the transaction.

The company's management team invested alongside the firms in return for a stake of around 5%. Meanwhile, the group of selling founders, Jean-Baptiste Pondevy, Dominique Chabot and Antoine Lacoste, retained close to a 30% stake. Enterprise value for Bimedia was not revealed, but sources close to the transaction confirmed it fell within the €20-50m region.

Subsequently, Idinvest increased its stake in February 2018, becoming the majority shareholder, while Omnes retained a small minority.

Company
Established in 2002, Bimedia is a software developer targeting clients in the retail sector such as newsagents, tobacco sellers and bakers. The business provides point-of-sale terminals and services ranging from telephone and digital advertising sales to electronic payment systems.

With headquarters in La Roche-sur-Yon, the business manages additional offices in Paris and employs 140 staff. With nearly 140 employees in France, Bimedia is present in more than 6,400 points of sale in the country, nearly 90% of which are tobacconists and newsagents. It generated revenues of around €100m in 2018.

People
Idinvest Partners – Eric Gallerne (managing partner); Nicolas Nedelec (managing director); Emmanuelle Tanguy (investment manager).

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• Topics
• Exits
• France
• Technology
• IDInvest Partners (AGF Private Equity)
• Omnes Capital
• A Plus Finance
• France
• Trade sale