BPI France’s Cassiopae makes two bolt-ons

The two existing backers of Cassiopae provided the company with acquisition finance for the bolt-ons, alongside members of Cassiopae's management team.

Together, BPI France and BNP Paribas own an approximate 40% stake in Cassiopae.

Following the acquisitions, Singhammer will be temporarily named "Singhammer dtSoftware GmbH a Cassiopae company" and the Crédito division of Disoft will become Cassiopae Brasil Limitada.

Previous funding
Cassiopae (formerly EnableUs) span out from its parent company CapMark Finance in 2006, in a deal supported by BPI France (then Avenir Enterprises). The firm secured a 29.65% stake in the business.

BNP Paribas then backed Cassiopae in June 2007, acquiring a 13.35% stake. In October 2011, BNP Paribas and BPI France made an investment worth up to €10m for Cassiopae's acquisition of UK-based Field Solutions.

Cassiopae was founded in 1987 and is headquartered in Paris. The company employs 450 staff and recorded a €50m turnover in 2012.

Companies
Founded in 1964 and headquartered in Munich, Singhammer provides software for the leasing industry in Europe, with a particular focus on the markets in Germany, Austria and Switzerland. The company employs 19 staff.

Disoft Solutions was founded in 1985 and is headquartered in São Paulo with 39 staff. The company provides IT services for enterprises, predominantly to the banking industry in Brazil. Its Crédito division provides management software for the credit and leasing operations of businesses in Brazil.

People
Emmanuel Gillet is the CEO of Cassiopae, while Cláudio Emanuel de Menezes is the president of Disoft and Justus Spehr is the CEO of Singhammer. Following the acquisitions, Georges Legrand from Cassiopae will become CEO of the Disoft Crédito division and former Disoft executive Israel Vicente Lopes Junior will become COO. Spehr will remain in charge of Singhammer to develop Cassiopae's presence in Germany.

BPI France investment director Jacques Solleau worked on the deal with Alexis Mahieu. Jean Charles Moulin represented BNP Paribas.

Advisers
Acquirer – Cabinet Lasar, Serge Lasar (Legal); Ashton KCJ, Paul Whittingham (Legal); Batella Lasmar & Silva, David Roberto Soares da Silva (Legal); Gorioux Groupe, Yann Fromont (Financial due diligence); Mazars, Firas Abou Merhi (Financial due diligence).

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• Topics
• Expansion
• France
• Technology
• France
• Germany
• BNP Paribas
• Acquisition finance