Andera, Capza reinvest in Octime in minority SBO

Capza, another existing investor, also reinvested in equity and through a mezzanine tranche. The management team, led by CEO Guillaume Berbinau, increased its stake. Managing director Nicolas Michel Vernet has joined as a shareholder.

LCL has underwritten a senior debt package for the transaction.

Andera (then EdRip) acquired a majority stake in the software developer in 2016, alongside management. EdRip invested through its Cabestan Capital II vehicle in what marked the first investment of the fund. Capza provided mezzanine debt, while LCL, Societe Generale and CIC provided senior debt in the transaction.

The company has undertaken two bolt-ons since then, and Andera stated it has been growing at 15% per year on average under its ownership.

Company
Established in 1998, Octime develops time management, knowledge sharing and information monitoring software. Based in Salies de Béarn, France, the company reported a turnover of more than €16m in 2015. According to its website, it now generates €25m in revenues.

People
Andera Partners – David Robin (partner).
Capza – Fabien Bernez (partner).

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