Bryan, Garnier & Co advises TVH Consulting on a management buy-out operation led by Pragma Capital alongside management and founding partner
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Paris, September 30th, 2016 – Bryan, Garnier & Co advised TVH Consulting, a French leader in ERP integration, on a Management Buy-Out Operation (MBO). Working alongside the management team and founder, Pragma Capital has acquired a majority stake of the company with the ambition of creating a European leader in ERP integration and the development of proprietary vertical solutions.
Founded in 2003 by Guy Tubiana and his partners, TVH Consulting is a leading player in the development and integration of major ERP solutions: SAP and Microsoft Dynamics AX. The company serves “Blue Chip“ clients who greatly value their unmatched professional expertise as well as its unique competitive advantage: addressing specific clients needs through an in-house Dynamics AX based vertical solution called ADAX©.
TVH Consulting advises, distributes, integrates, supports and ensures the evolution of the solutions installed for its customers across the five continents while maintaining full project management and which guarantees best results for their clients.
Through its international footprint, TVH Consulting works closely with a unique network of partners to serve its clients in more than 30 countries and across targeted sectors: Life Sciences, Agribusiness and Cooperatives, Retail and Omni-channel Distribution.
The management buy-out led by Pragma Capital took place following uninterrupted growth in revenue since the company was founded (+35% CAGR) together with double-digit profitability. This operation will support the company in the next steps of its development. In addition to organic growth, the company will drive its development through targeted acquisitions in France and abroad to continue expanding its market share.
Ahmed Mahcer, President, TVH Consulting, states: “The investment of Pragma in TVH Consulting’s capital supports the company’s transition to a highly experienced and cohesive team of managers, committed to the development of the group. In addition, the new shareholder brings new resources for even more dynamic growth, particularly through targeted external growth operations.”
Thibaut De Smedt, Partner at Bryan, Garnier & Co, added: “We are delighted to have assisted TVH Consulting in this operation which will give the company the means to accelerate its development.
The company, which is amongst the top 5% of Microsoft’s partners worldwide (Inner Circle partners), has constantly demonstrated its unique expertise in the ERP Integration space. This transaction further strengthens our leadership in IT Services and Enterprise Software, after deals such as the sale of Talentia to Argos Soditic, the sale of Aspediens to CSC and the merger of e-doceo and Talentsoft.”
Participants
Acquirer:
Pragma Capital – Arnaud Leclercq, Benjamin Zowczak
M&A advisors – seller:
Bryan, Garnier & Co – Thibaut De Smedt, Alexandre Boukhari, Jonathan Bohbot
Legal advisors – seller:
LL Berg – Grine Lahreche, Christophe Bornes, Bengu Sulusoglu
Luther Luxembourg – Maxime Wagner, Euryale Didillon, Aurélien Latouche
Atoz Luxembourg – Jamal Afakir, Samantha Hauw, Edouard de La Serre
Legal advisors – acq.:
Marvell – Jean-Louis Lasseri, Anne Ducros, Anna Lasseri
Legal advisors – banks:
Fieldfisher – Pascal Squercioni, Hélène Lefebvre
CMS – Benjamin Guilleminot
Strategic advisors:
Neovian Partners – Patrick Richer, Benjamin Michel-Wertheimer
Financial advisor:
Squareness – Frédéric Meunier, Antoine Sudérie
Financing:
Trocadéro Capital – Philippe Bruneau, Alexis Bougon
Société Générale – Sébastien Michenet, Maxence Carro
BPVF – Jacques-Olivier Marrand
LCL – Cécile Penard
TVH Consulting
Founded in 2003, TVH Consulting is an international independent software company specialized in business consulting, integration systems and hosting of major ERP solutions. Under its proprietary R&D centre, TVH Consulting has accumulated know-how in business solutions edition for medium-sized companies from various industries: agribusiness, specialized distribution, mass retail suppliers, chemicals, pharmaceuticals, cosmetology, etc.
TVH consulting mainly operates in Europe but also worldwide benefiting through its strong partnership network. It maintains the whole management of all projects, all installations support and commits to its results irrevocably
( www.tvhconsulting.com / www.adax-erp.com)
Pragma Capital
Independent Management Company dedicated to equity support for medium-sized French companies.
Pragma Capital invests alongside entrepreneurs to reorganize or strengthen their companies’ capital, always as a significant non-operational shareholder and in most cases as a majority shareholder.
Pragma Capital contributes to growing companies and making them stronger and places its experience as professional shareholders and their network of contacts at the disposal of companies, with a constant focus on creating value and fostering growth.
Since its creation in 2002, Pragma Capital closed 90 acquisitions and raised over 700M€ from French and International investors, mostly institutional.