Initiative & Finance exits Nomadvance in trade sale

Initiative & Finance is understood to have been holding onto a 20% stake in the business prior to the sale, which it acquired as part of a buy-in/management buyout (BIMBO) in 2005. The GP reportedly reaped an IRR in excess of 20%.

Hub télécom is a subsidiary of French airports operator Aéroports de Paris. The acquisition is part of the telecoms company to bolster the range of services its offers the transport industry.

Previous funding
Initiative & Finance invested €1.5m in the BIMBO of Raisonnance in 2005. In 2007, the company merged with A3.Dis to form Nomadvance.

Company
Founded in 1997 as Raisonnance, Dardilly-based Nomadvance has developed a range of tracking solutions for goods and materials. It also offers technological solutions aimed to support employee mobility in a range of industries.

Nomadvance employs 125 staff across five sites in France, and generated a €38m turnover in 2011 - up 40% on the previous year - with an EBITDA of around €3m.

People
Salvatore Cappaï is CEO of Nomadvance.

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• Topics
• France
• Industrials
• Exits
• Trade sale
• France