TA Associates to invest in French company DL Software

DL's current majority shareholder, 21 Invest France, as well as company founders and management, would each retain a stake in the business following TA's investment.

DL CEO Jacques Ollivier said the company will continue to seek acquisition opportunities in France and may consider other markets in Europe.

According to the GP's press release, the company has realised an average annual growth rate of more than 10% since its founding. In 2020, it generated a revenues of €74m, up from €48m in 2016. 

The transaction is subject to customary approvals and is currently under review by representatives of the company's employees. It is expected to close in the second quarter of 2021.

Company
Founded in 2003, DL Software is comprised of 13 industry-specific ERP software developers, serving a variety of end markets in France across the healthcare, insurance, retail, wholesale, real estate and tourism industries. The group employs a total of 550 employees and serves 20,000 companies. In 2020, the group achieved total revenues of €74m, up from €48m in 2016.

People
DL Software – Jacques Ollivier (CEO).
TA Associates – Maxime Cancre (principal); Patrick Sader (managing director).
21 Invest – Stephane Perriquet (managing partner).

Advisers
Company – De Pardieu Brocas Maffei (legal); DC Advisory (M&A); Eight Advisory (financial adviser)
Equity – Latham & Watkins (legal); Bryan Garnier (M&A); KPMG (financial due diligence, tax).  

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• Topics
• Buyouts
• France
• Technology
• Mid-market buyout
• TA Associates
• 21 Investimenti