EdRIP backs b2s OBO

EdRIP invested via the Winch Capital 2 fund, which closed on €250m in 2009. Windhurst participations, which held a majority stake, has fully exited the business. b2s founder Maxime Didier led the OBO.

Previous funding
Windhurst acquired a 75% stake in b2s in late 2009, in a deal which saw previous backer Ixen relinquish its 40% stake. In addition, Windhurst supplied b2s with a €3.4m capital increase.

Since then, b2s saw its turnover increase by 29%, while EBIT more than doubled.

Company
Established in 1996, b2s provides customer relations management (CRM) services to various businesses, notably by operating call centres across France and Morocco. b2s employs 4,000 staff and generated a €108m turnover in 2011.

People
Sylvain Charignon, François-Xavier Mauron and Damien Ricordeau worked on the deal for EdRIP. François-Denis Poitrinal represented Windhurst.

Advisers
Equity - Reed Smith, Emmanuel Vergnaud, Mickaël Levi (Legal, tax); Deloitte, Cécile Remy, Alban Cabanis (Financial due diligence); Equalis, Giovanni Di Francesco, Mathieu Roux (Commercial due diligence).
Vendors - MBA, Jean-Philippe Jacob, Dorothée Traverse (Legal, tax); CMS Francis Lefebvre, Arnaud Hugot, Alexandre Morel (Legal, tax); Transaction R, Pierpaolo Carpinelli (Corporate finance); MITSIO Corporate Finance, Eric
Braconnier (Corporate finance); Edgard Taureau (Corporate finance).

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