Irium (France) - Oct 2007

unquote
01 October 2007

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In its third deal, Occam Capital has acquired a 50% stake in ERP solutions provider Irium. Two of the company’s four owners wished to realise their interest, prompting the mandating of KPMG to identify a new financial partner. Occam had gained an advantage in this process thanks to its network of industry contacts. The company’s existing banks Crédit Mutuel, BNP Paribas and BRED underwrote an amortising five-year loan to support the transaction, while Occam itself provided the mezzanine.

Company

Founded in 1982 and based in La Rochelle, Irium publishes ERP software solutions aimed at industrial equipment rental businesses. In addition to the products, the company provides a suite of services including installation, remote support and professional services such as custom development and consulting. Irium recorded sales in excess of €13m for 2007, 25% of which was generated abroad. The company will look to continue its international expansion, notably through acquisitions in complementary countries. The firm, which currently employs 140 staff, has subsidiaries in Germany and Spain.

People

Marc Goldberg and Laurent Cadieu worked on the transaction for Occam Capital. Pierrick Guivarc’h is Irium’s new CEO.

Advisers

Equity - Ernst & Young, Emmanuel Picard, Renaud Regner (Financial Due Diligence)Equity - Fried Frank, Anne-Charlotte Rivière, Cédric Chanas, François Hellot (Legal)Vendor - KPMG Corporate Finance, Marie Angliviel de la Beaumelle, Philippe Nataf (Corporate Finance)

Sourced from: France unquote" 87 (Jan 2008)