TVH Consulting (France) - Dec 2007

Via its fund XPansion, XAnge Private Equity has invested €2m to purchase shares and €1.5m in new convertible bonds in ERP solutions provider TVH Consulting. Following this privately-sourced transaction, the private equity firms took a minority stake in the business, while management retains majority control.

Company

Headquartered in Maisons Laffitte since its creation in 2003, TVH Consulting distributes and integrates Enterprise Resource Planning (ERP) solutions for mid- and large-sized companies in the industrial, retail and business support sectors, and provides expertise and after-sales services. The firm, which was granted the ‘Gazelle’ status by the French Government as it has grown by more than 80% annually since inception, recorded sales of €10m in 2007, with an EBIT margin of 15%. TVH hopes to achieve revenues of €14-15m in 2008. Growth will be both organic and external, with typical acquisition targets being competitors specialising in complementary sectorial niches with turnovers of €5-15m.

People

Magdalena Svensson and Etienne Arlet worked on this transaction for XAnge Private Equity. Guy Tubiana is TVH Consulting’s founding CEO.

Advisers

Equity - DFK International, Eric Berloty, Philippe de Saint Pern (Financial Due Diligence)Equity - Racine, Gilles de Boisséson, Stéphanie Verschave (Legal)

Sourced from: France unquote" 87 (Jan 2008)

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