mynth
07/2024

ORISHA acquired by FRANCISCO PARTNERS & TA ASSOCIATES

FRANCE Software / Industry-Specific Software EV €1–10bn

Context

This transaction marks a significant new phase in the development of the European software group through a tertiary leveraged buyout. The operation involves the entry of a new major American technology investor into the capital structure, joining forces with the existing historical shareholder to share joint control of the company. This strategic partnership between two leading global private equity firms is designed to provide the group with additional equity and financial resources to accelerate its ambitious external growth strategy. The transaction facilitates the exit of a long-standing French investment partner and the company's original founders. The management team remains deeply involved in the project, maintaining a stable minority stake. This new capital structure aims to support the group's goal of doubling its size in the coming years by strengthening its leadership in existing verticals and potentially expanding into new business sectors. The deal underscores the group's successful transformation and its attractiveness as a scalable European software platform.

ORISHA, which reported an EBITDA margin of [members only] in 2024, is valued in this transaction at an EV/EBITDA multiple of 15x–25x, representing a premium to the average currently observed in the TMT (Tech, Media, Telecom) sector (14.6x).

-> Deep-dive in TMT (Tech, Media, Telecom) market trends

Target

Founded in early 2023, the target is a prominent European software publisher specializing in business-oriented solutions. The company operates through several dedicated business units, providing essential management tools such as enterprise resource planning, point-of-sale systems, and commercial management software. Its technological ecosystem supports a vast array of industries, notably focusing on the retail, real estate, healthcare, construction, and agri-food sectors. By offering specialized vertical solutions, the group facilitates millions of daily transactions and interactions for a large international client base. Headquartered in Paris, the organization has undergone significant transformation, evolving from a local specialist into a European leader through an active strategy of external growth and the integration of numerous independent business lines into a unified, multi-sector platform.

Ent. Value

€1–10bn

Equity Value

[members only]

Multiples

EV / Revenue

4x–10x

EV / EBITDA

15x–25x

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2024
€250–500M
€50–100M
[members only]
2023
€250–500M
€50–100M
[members only]

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07/2024ARDIANHR PATHFRANCEERP, HR & Finance
07/2024SYMPHONY TECHNOLOGY GROUP (STG)GRESHAM TECHNOLOGIESUNITED KINGDOMFinancial Services / Banking
06/2024KEENSIGHT CAPITALDIMO MAINTFRANCEIndustry-Specific Software
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05/2024HAVELI INVESTMENTSZEROFOXUNITED STATESSoftware
05/2024CADENCEBETA CAESWITZERLANDEngineering & Design Software
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REFERENCES

Valuation range: EV €1–10bn

Revenue range: €250–500M

EBITDA range: €50–100M

EV/Revenue range: 4x - 10x

EV/EBITDA range: 15x - 25x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of ORISHA by FRANCISCO PARTNERS / TA ASSOCIATES are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Acquirer: francisco partners / ta associates