TA Associates, a global growth private equity firm, has entered exclusive negotiations to make a majority growth investment in DL Software, a France-based group of enterprise resource planning (ERP) software providers.
Current DL Software majority shareholder 21 Invest France, as well as company founders and management, would each retain a stake in the business following TA’s investment. The envisaged transaction, which is currently under review by representatives of the company’s employees, is expected to close in the second quarter of 2021, subject to customary approvals. Financial terms were not disclosed.
Founded in 2003, DL Software is comprised of 13 industry-specific ERP software vendors serving a variety of end markets in France across the healthcare, insurance, retail, wholesale, real estate and tourism industries. In 2020, the group achieved total revenue of EUR74 million, up from EUR48 million in 2016. DL Software provides a number of centralised/corporate resources, including financial, marketing and HR support, and promotes the implementation and sharing of best practices in product development, lead generation, sales execution and customer service. The group employs a total of 550 employees and serves more than 20,000 SME, mid- and large-cap companies. DL Software’s key strategic objectives are to accelerate investment in technological innovation, to deliver high-quality and agile software solutions, and to foster growth for itself and its customers.
“DL Software has become a leading B2B software player in France through a longstanding strategy of acquiring and growing highly-verticalized ERP vendors,” says Maxime Cancre, a Principal at TA Associates who would join the DL Software Board of Directors. “We are pleased to announce this prospective investment and look forward to partnering with DL Software management and our fellow investors in actively seeking new growth opportunities for the company.”
Read more/Source: Private Equity Wire
