Capzanine secures minority stake in Talan

The GP, which usually invests a blend of equity and mezzanine for its small-cap and mid-cap deals, didn't leverage this particular investment. Following the deal, it will be the largest minority shareholder in the business, with the management team collectively retaining a majority stake.

Talan will use the fresh funding to pursue its growth strategy, notably to finance its ongoing build-up efforts.

Capzanine raised its latest fund, Capzanine 3, in mid-2013. The €350m fund invests €7-50m per transaction in French companies with an enterprise value of €20-300m. At the time of the closing, around 70-75% of the capital was earmarked to be deployed as mezzanine, with the remainder being equity investments.

Company
Founded in 2002, Talan offers IT consulting services to organisations across four main sectors: finance and insurance, energy and public services, logistics and transportation, and media and telecoms. Based in Paris, the company also has offices in the UK, North America, Tunisia, Switzerland and Hong Kong.

Talan generates €150m in revenues with a double-digit profit margin and employs 1,500 people.

People
Capzanine – David Hoppenot, Maxence Radix (partners); Sabine Barral (associate).

Advisers
Equity – Gowling WLG, Jérôme Patenotte, Aline Picaut, Sophie Mesnier Teissedre (legal, tax); ACA Nexia, Hervé Krissi, Thierry Guelfi (financial due diligence); Neovian, Patrick Richer, Guillaume Rambaud (commercial due diligence).
Vendors – Financière Cambon, David Salabi, Jonathan Journo (corporate finance); Fieldfisher, Pascal Squercioni (legal).

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• Topics
• Expansion
• France
• Technology
• France
• Capzanine