DDA & Company advises Capital Croissance on the sale of its portfolio company iD Systèmes, an ERP software vendor dedicated to the wine&spirits and horticultural sector
Following a competitive process led by DDA & Company, iD Systèmes has been sold to Meeschaert Capital Partners in a BIMBO (Buy-In Management Buy-Out) transaction. iD Systèmes is the leading independent provider of business software solutions dedicated to the wine & spirits and horticultural production and distribution sectors.
Founded in 1987, the company boasts over 30 years of expertise and experience in the development of ERP solutions dedicated to the management of wine & spirits and horticulture production and distribution activities. Since its LMBO in early 2017 with MB Industries and its management team, iD Systèmes has recorded in exces of 80% sales increase and multiplied its earnings multiplied by 4, thanks in particular to the acquisition of La Graine Informatique in 2018 and significant organic growth supported by the successful launch of new software solutions and the revitalisation of customer relations. Through its mid-cap fund, Meeschaert Capital Partners has acquired 90% of the Company’s shares in an MBI transaction alongside Christophe Morizot, taking over Maxime Botton as CEO
Maxime Botton declares “This is excellent news for the iD Systèmes Group and will enable it to continue to grow. It also a testament to the progress made over the past 5 years with all the team on the one hand, and with our shareholders on the othe. I am proud of the work we have done to reposition iD Systems as the undisputed leader in its market. My objective now is to ensure a high-quality transition with Christophe Morizot over the next few months and to ensure the continuity of the great history of iD Systèmes.”
Eric Neuplanche, Chairman of Capital Croissance, adds: “Capital Croissance has achieved a new success story with iD Systèmes less than 6 years after the first investments were made. We extend our congratulations to the entire team for the considerable work that has been carried out over the last few years and wish our colleague, Meeschaert Capital Partners, and Christophe Morizot all the very best in pursuing the projects undertaken by the group“.
Christophe Morizot, the new CEO of the ID Systèmes Group, comments: “I am very pleased to take over the management of ID Systèmes and doubly motivated by the exciting business sector and also by the technological challenge in the current context of innovation.”
Alexandre Odin, Partner of DDA & Company, concludes: “ID Systèmes is a very good asset, I am sure that the management team led by Christophe Morizot will be able to exploit all the potential for future growth.”
An objective of doubling turnover within 3 years
iD Systèmes, which currently employs more than 160 people, ended its last fiscal year with revenues of more than €15 million, generated from 2,000 customers. First objective on the roadmap for Meeschaert CP, will consist in switching its model to Saas mode. Another objective: “Our ambition for iD Systèmes is to double its revenue through organic growth and acquisitions“, says Hervé Fonta, Chairman of Meeschaert CP. This is a particularly popular strategy, which should give priority to French, European and even international markets, depending on the opportunities. A few acquisitions are also under consideration, the first of which could be completed in 2020.
The DDA&Company team, comprised of Alexandre Odin, Nhu Quynh Golder, and Jean-Baptiste Delaporte, advised Capital Croissance on the transaction.
It is the 5th software deal advised by DDA in 2019.