Groupe Positive (ex-Groupe Sarbacane) is a leading European digital communication software provider. Founded in 2001 around its flagship product Sarbacane, the group has gradually expanded its offering to propose a wide range of digital communication solutions (email, SMS, automated workflows, chat, sales engagement, etc.). Groupe Positive has built a solid portfolio of 25,000 clients, mainly SMEs, but also large corporates and the public sector.

Having seen its revenue multiplied by 3 over the last 3 years, to reach nearly €30m this year, Groupe Positive onboards a new financial partner to support its continued high growth. EMZ leads the €110m funding round, with its historical shareholder IDI continuing to support the Group. The founder and CEO Mathieu Tarnus remains the majority shareholder. This funding round will enable to accelerate the group's buy-and-build strategy focused on: (i) expansion of existing offering in new geographies; (ii) acquisition of complementary products, technology and/or go-to-market in existing geographies (France, Spain and the DACH region).

Groupe Positive is already progressing in its strategy and has acquired Marketing 1BY1, a high-growth customer data platform based in France. This is it's third acquisition over the last 2 years, following the acquisitions of Datananas (sales engagement solution based in France) in 2020 and rapidmail (email marketing solution based in Germany) in 2021.

The significant fundraise and the latest acquisition confirm Groupe Positive's trajectory to become a leading European consolidator in the digital communication space with a view to reach its target of €100m revenue by 2026.

About Groupe Positive

Founded in 2001, Groupe Positive is a high-growth digital communication software provider. Through a portfolio of brands, the group allows its clients to create and distribute marketing content at scale and to ensure a unified customer experience across digital channels (email, SMS, webpages, livechat, etc.). With 21 years of experience in digital communication, Groupe Positive has built a solid portfolio of 25,000 clients, mainly SMEs, but also large corporates and the public sector. The group has a strong buy-and-build track record having acquired Datananas (sales engagement solution in France) in 2020, rapidmail (email marketing solution in Germany) in 2021 and Marketing 1BY1 (customer data platform in France) in 2022. Headquartered in Hem (Lille), the group has offices in France, Spain and Germany.

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About EMZ

Based in Paris and Munich, EMZ is an independent fund manager specialized in the support of medium-sized companies. Its investment strategy is oriented towards SMEs led by experienced management teams, who are looking to reinforce their shareholding structure or finance external growth strategy. Since 1999, EMZ has completed 150+ transactions which cumulate €4.5bn. EMZ invests throughout France, Germany, Austria and Switzerland, with tickets ranging between €10m and €200m.

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About IDI

Founded in 1970, IDI was one of the first private equity firms to be established in France. For over 50 years, this PE firm has been supporting entrepreneurs in their organic and external growth projects in France and overseas. To date, IDI realised 850+ investments and deployed EUR 600+ million in equity financings. IDI is an independent listed company since its IPO in 1991, having realised an IRR of 15.7%. The firm is listed on Euronext Paris.

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About Marketing 1BY1

Founded in 2015, Marketing 1BY1 is a high-growth customer data platform provider. Destinated for marketing and CRM teams, this solution allows to centralise, exploit and enrich data, to drive the CRM strategy and to ensure a personalised omnichannel customer experience. Marketing 1BY1 serves 25 clients, including key players in the e-commerce, retail and tourism sectors. The company is based in Lille and employs 20 people.

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Thibaut De Smedt

Investment Banking

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Stanislas de Gmeline

Investment Banking

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Jonathan Bohbot

Investment Banking I Software and Tech-Enabled Services

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Regina Akhmadinurova

Investment Banking

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Arthur Escoffier

Investment Banking

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Deal Team

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