ORSYP (France) - Jan 2008

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01 January 2008

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Argos Soditic and five members of the management have acquired 80% of ORSYP in an LBO of the Paris-based provider of enterprise job scheduling solutions and IT services via its fund Argos Soditic V. The majority was formally held by founding family and private investors. BNP Paribas financed the senior debt, but financial details were not disclosed.

Company

ORSYP, created in 1986, is based at La Défense, Paris. It has a predicted turnover of more than €26m between March 2007 and March 2008 and currently employs around 270 people in the company and its affiliates. ORSYP is a software and consulting company. It edits and sells Dollar Universe which works as a job scheduler which automates processes, jobs and tasks in IT environments. The deal aims to move ORSYP from a medium-sized company to a global leader in IT solutions. The company plans to expand geographically and plans to optimise the market for its new products and services portfolio with the aid of the external funding. In a management reshuffle Francois-Xavier Florent becomes president and CEO, replacing founder Jean-Jacques Parinet who becomes president of ORSYP’s advisory board. ORSYP serves more than 1,000 clients worldwide through 12 subsidiaries.

People

Jean-Jacques Parinet worked on the deal for ORSYP. Representing Argos Soditic were Louis Godron, Louis de Lestanville and Marc Rouvier. Isabelle Guillaume and Alexandre Bragadir worked on the debt for BNP Paribas. Francois-Xavier Florent is president and CEO of ORSYP.

Advisers

Equity - Ernst & Young, Barbara André, Pierre Jouanne (Financial Due Diligence)Equity - HPC Project, Pierre Fiorini (Other Due Diligence)Equity - Pax Consult, Adrien Tourres (Corporate Finance)Equity - SJ Berwin LLP, Guillaume Rémy, Marie-Christine Combes, Maxence Bloch (Legal)Vendor - Bird & Bird, Cristian Rawlins, Marc Baffreau (Legal)Vendor - Bryan Garnier & Co, Jean-Luc Lénart, Thibaut de Smedt (Financial Due Diligence)