Isatis injects €4m into Graitec Innovation for Total Cad bolt-on

Speaking to unquote", sources close to the deal revealed that Isatis financed its €4m investment via its Isatis Developpement II fund and its 2013- and 2014-vintage FCPI vehicles.

The round, following on from a first €2.5m injection by Isatis in December 2014, comes to support Graitec Innovation's build-up strategy. In 2014, the business performed several acquisitions across Europe: the bolt-on of Toulouse-based HPC-SA was followed by the purchases of Robobat Polska, ERA3 and MicroCAD in Poland, Italy and the UK.

Total Cad is a Houston-headquartered construction software developer; the acquisition is Graitec Innovation's first in US soil.

Isatis, currently a minority shareholder in Graitec Innovation, became a shareholder in its former parent Graitec Group in 2005, when it invested $4.5m alongside Innovation Capital, Omnes Capital and Siparex.

In 2013, the firms sold their stake alongside CM-CIC Capital Privé and Amundi Private Equity to corporate Autodesk. In early 2014, the trade buyer divested Graitec's software distribution operations, regrouped under the Graitec Innovation brand, back to the company's founder and CEO Francis Guillemard.

Company
Founded in 1986, Graitec Group develops software used by reinforced concrete, timber and steel construction clients to carry out structural calculations when a building is being planned. Its former France-based subsidiary Graitec Innovation is headquartered in Bièvres and focuses on the distribution of the parent's products.

With headquarters in Houston, Total Cad also works with construction clients; its software products generate €14m in revenues, according to the most recent available figures.

People
Bertrand Limoges and François-Xavier Lehman, respectively associate director and business development manager at Isatis Capital, led the deal on behalf of the firm. Francis Guillemard is currently CEO of Graitec Group.

Advisers
Equity - Financière Cambon, David Salabi, Oriane Benveniste-Profichet (Corporate finance).
Company - DDA & Company, Alexandre Odin, Lionel Blache (Corporate finance); Fayout & Associés (Legal).

 

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• Topics
• France
• Expansion
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• France
• Acquisition finance
• Isatis Capital