Leading temporary work HR online management platform Pixid acquired by Keensight Capital

Leading temporary work HR online management platform Pixid acquired by Keensight Capital

News published on October Monday 19, 2015
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Paris, October 19th 2015 – Founded in 2004 by Adecco France, Manpower and Randstad (formerly Vediorbis), Pixid is a leading player in online management solutions for the temporary work market. The company announces that it is reorganizing its capital structure around its management team with the arrival of Keensight Capital, a leading player in European Growth Private Equity, as a majority shareholder. Bryan, Garnier & Co acted as exclusive financial advisor to Pixid’s shareholders on this transaction.

A pioneer on its market, Pixid has established itself as a major player within the field of online management for temporary work in France. Pixid’s electronic SaaS (Software as a Service) solution allows its clients, both companies and temporary work service providers, to manage their workforce needs entirely by electronic means through a platform (adapted for candidate screening, pay statements, contracts and invoices) which ensures that current regulatory requirements are met.

The company’s offering has already captured a wide client base of over 1300 large companies and SMEs as well as over 380 temporary employment agencies, making the company the first European player in terms of number of clients. In 2015 alone, over 4 million contracts will have been processed by Pixid’s service offering, representing over a quarter of the French temporary employment market.

Pierre Ruaud, Director at Bryan, Garnier & Co stated: « Pixid benefits from a unique positioning with regards to suppliers and users of flexible workers, which allowed it to achieve a fast, profitable and sustainable growth of 40% per year, while benefiting from highly-recurring revenues thanks to its SaaS model. The company generated strong interest from financial investors contacted during this competitive process and we are very glad to have advised exiting shareholders while providing Pixid with the adequate resources to accelerate its ambitious growth plan in the French market and abroad. »

« After advising on the acquisition of Metrologic by Astorg, the sale of Synertrade to Digital Dimension, the investment of Keensight Capital in SmartTrade, the secondary placement for Cast and the €25m fundraising for Jahia, this seventh transaction in the Software industry in 2015 further reinforces the leadership and expertise of Bryan, Garnier & Co in capital transactions for growing European technology companies », added Thibaut De Smedt, Partner in charge of the Software practice at Bryan, Garnier & Co.


Advisors to the sellers 

Exclusive financial advisor: Bryan, Garnier & Co (Pierre Ruaud, Guillaume du Repaire)

Legal advisor to the transaction: Villey Girard Grolleaud (Frédéric Grillier, Ruben Grouchka)

Legal advisor to the sellers: Cleary Gottlieb Steen & Hamilton, Clifford Chance, Linklaters

Legal advisor to Pixid: Fidal

Vendors Due Diligence: Ernst & Young (Emmanuel Picard, Thibault Mignonac)

 

About Pixid (www.pixid.fr)

Founded in 2004, Pixid is the full SaaS VMS leader in France. It offers an application managing and satisfying the needs in temporary labor in compliance with French regulation. Over 100,000 users are connected on a daily basis to Pixid’s platform to reduce their costs and optimize their online work with their providers.

Nowadays, the company processes 4 million contracts. Innovative services such as the electronic signature of contracts are made available for clients of all sizes. PIXID is based in Paris and London.


 

About Keensight Capital (www.keensightcapital.com)

Keensight Capital is an independent European growth private equity firm with 15 years of proven investment success in supporting the management teams of profitable, growing companies with revenue from €15m to €150m. The fund provides capital to finance organic growth, enable strategic acquisitions, or help buy out existing shareholders.

Keensight Capital has gathered a strong expertise and knowledge in growth industries. Its sectorial focus includes Information Technology, Healthcare, and Energy. In each of these sectors, the investment professionals in the team leverage their entrepreneurial and professional backgrounds to provide strategic advice. Keensight Capital works closely with management to the achievement of their business strategies.


 

About Bryan, Garnier & Co (www.bryangarnier.com)

Bryan, Garnier & Co is an independent investment bank specialized in European growth companies, providing them with Equity Research & Brokerage, Asset Management and Corporate Finance services. With more than 160 professionals based in London, Paris, New York, Geneva and New Delhi, Bryan, Garnier & Co combines the range of services and the expertise of top-tier investment banks with the level of attention to clients of a boutique. Bryan, Garnier & Co is a leading advisor to European growth companies on strategic finance transactions such as mergers & acquisitions, equity capital market, LBOs and private placement. Bryan, Garnier & Co is authorized and regulated by the Financial Conduct Authority (FCA) in the United Kingdom, and is member of London Stock Exchange and Euronext, Alternext Listing Sponsor, and is active on all European capital markets.


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