PE-backed Avisa bolts on consulting firm CEIS

Raise acquired Avisa in July last year. The GP typically invests via a €390m minority investments vehicle, which provides €10-40m tickets to companies with revenues of €50-500m. According to a statement, Rives Croissance – the PE branch of Banque Populaire Rives de Paris – is also invested in Avisa.

The transactions sees the previous owners of CEIS, PE firm Crédit Mutuel Equity (49%), directors (40%) and founder Olivier Darrason (10%) sell their stakes, according to French publication Capital Finance.

The combined group will have a presence in Paris, Brussels, London, Berlin and Washington. It expects to generate a €40m turnover in 2020 and employ 200 people. The merger will allow the group to provide a wider range of services to 250 clients.

Previous backing
Crédit Mutuel Equity backed the management buyout of CEIS in Q4 2018. The management team, led by Guillaume Tissier, Axel Dyevre and Vincent Riou, retained a majority stake in the company. Olivier Darrason, the company's founder and previous owner, remained on the board and retained an executive position. CIC and BESV provided senior debt to support the deal.

Company
Founded in 1997, CEIS is a strategy and risk management consultancy serving private and public entities. Based in Paris, the company recorded a turnover of €13m with 80 employees in 2019.

People
Compagnie Européenne d'Intelligence Stratégique – Olivier Darrason (founder); Guillaume Tissier (president).
Avisa – Matthieu Creux (president).

Advisers
Equity – Agilys Avocats (legal).
Vendor – Ryder & Davis (M&A); Fidal (legal).

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• Topics
• Expansion
• France
• Support services
• Exits
• France
• Raise Investissement
• Credit Mutuel Equity (ex CM-CIC Investissement)
• Trade sale