ORISHA acquired by FRANCISCO PARTNERS & TA ASSOCIATES

DENTRESSANGLE Capital acquired a majority stake in EDL from the private equity firm Abenex. This transaction was carried out at a high valuation multiple, reflecting EDL's exceptional profitability (50% EBITDA margin) and dominant market position. The management team reinvested significantly alongside DENTRESSANGLE. The strategic rationale for this "LBO bis" is to accelerate EDL's European footprint through targeted build-up acquisitions and to enhance its technological lead by further integrating AI into the Xplore suite. This transaction marks a successful exit for Abenex, which had supported the group since 2021, overseeing its expansion into the DACH region and Belgium.

IK Partners acquired a minority stake in Octime, marking the company's 5th LBO cycle. The President and key managers retain a majority stake (~55%). Andera Partners remains a minority shareholder, while Capza exited its position after an 8-year tenure. The deal is supported by senior debt. The strategic objective is to double Octime's revenue within five years through organic growth in France and an active build-up strategy in neighboring countries and Northern Europe.

HR Path, a global leader in Human Resources consulting and digital transformation, has entered into exclusive negotiations with Ardian for a record-breaking fundraising round. Announced in April 2024, this transaction aims to support the group's next phase of international expansion and consolidate its position as a global "one-stop shop" for HR services.

STG Partners, through its acquisition vehicle Alliance Bidco, acquired Gresham Technologies. This transaction is a public-to-private corporate acquisition executed via a court-approved scheme of arrangement following a recommended cash offer announced in April 2024. The strategic rationale driving this consolidation is to formally combine Gresham with its existing portfolio company, Alveo, to create a global leader in enterprise data management and governance for the capital markets technology ecosystem. Houlihan Lokey served as the exclusive financial advisor to Gresham.

Barcoding, Inc., a portfolio company of Graham Partners, completed its merger with DecisionPoint Systems, Inc. on July 5, 2024, following the signing of a definitive agreement earlier in the year. The transaction brings together two complementary enterprise mobility and data capture solution providers under a newly formed holding structure, DecisionPoint Technologies, creating a scaled platform in the North American market. The industrial logic underpinning the transaction is driven by strong strategic adjacency between the two businesses. Barcoding’s expertise in supply chain automation and warehouse optimization is highly complementary to DecisionPoint’s capabilities in POS systems and enterprise mobility deployment. The combination enables the unified entity to offer a broader, end-to-end suite of solutions spanning IoT/RFID, mobile computing, and retail transaction technologies. This enhanced offering strengthens its positioning as a full-service integrator capable of addressing increasingly complex enterprise requirements.

Keensight Capital took a majority stake in DIMO Maint to facilitate its spin-off from the DIMO Software group. This "carve-out" aims to make DIMO Maint an independent leader in the CMMS market by financing its international development and its transition to a full SaaS model.

Safran announces the acquisition of 100% of the capital of Preligens, a leader in artificial intelligence (AI) dedicated to the aerospace and defense industries, for an enterprise value estimated at 220 million euros.

The acquisition of ZeroFox by Haveli Investments represents a significant take-private transaction within the cybersecurity sector. This strategic privatization follows a comprehensive evaluation of capital structure alternatives and marks ZeroFox’s transition from a publicly traded entity on Nasdaq to a privately held growth platform. Under the terms of the all-cash agreement, stockholders received 1.14 USD per share, representing a substantial 45% premium over the 90-day volume-weighted average share price. The strategic rationale for the deal centers on providing ZeroFox with the financial flexibility and operational support required to accelerate its global expansion and product innovation without the constraints of public market volatility. Haveli Investments intends to leverage its deep expertise in the software and data sectors to propel the company’s next phase of growth, focusing on new market entry and the scaling of its AI-driven external attack surface management tools. This transaction highlights a robust trend of specialized technology sponsors acquiring high-growth SaaS platforms to consolidate their market leadership through disciplined capital deployment and strategic guidance.

Cadence Design Systems has completed the acquisition of BETA CAE Systems International AG, a provider of multi-domain engineering simulation solutions. The acquisition is a cornerstone of Cadence’s "Intelligent System Design" strategy, designed to accelerate the company's expansion into the structural analysis market. By adding BETA CAE’s simulation capabilities—specifically in structural and mechanical analysis—to its existing portfolio of electromagnetic, thermal, and fluid dynamics solutions, Cadence creates a comprehensive multiphysics analysis platform. This is critical for the automotive and industrial sectors, where the convergence of electrical and mechanical systems, particularly in electric vehicles, requires integrated, cross-domain design workflows. This transaction highlights the intensifying consolidation trend among major design software providers as they seek to offer end-to-end multiphysics solutions. It reinforces the market shift toward shifting simulation to the beginning of the design cycle ("shift-left"), positioning Cadence to capture a multi-billion-dollar addressable market in structural analysis and providing a strong competitive benchmark for integrated system design software.

Bridgepoint, through its Bridgepoint Europe VII fund, has announced a majority strategic investment in LumApps, the leading French provider of next-generation SaaS intranets. The transaction facilitates the exit of previous backers including Goldman Sachs Alternatives, Eurazeo Growth, Bpifrance, and IRIS. The founders and management team will remain heavily invested in the company.