6 März 2019
The Missler Software management team, headed by Richard Lamure, is working with a pool of financial investors, led by Siparex and composed of Bpifrance and IRDI, to organize the takeover of the Group. This transaction involves the partial withdrawal of the three parties to the 2005 takeover of Missler Software, also creators of the TopSolid software, and disposal by its financial shareholder iXO Private Equity.
Missler Software, founded in 1984, is a global leader in CAD/CAM (Computer-Aided Design and Manufacturing) software publishing with the “TopSolid” suite. Its range of proprietary software offers a fully integrated solution for the design and manufacture of technical parts on digitally controlled machines, along with industry-specific application modules (for wood and layout/outfitting, sheet metal work, etc.).
Thanks to its continuous innovation policy, Missler Software's software versions feature the latest technologies used by manufacturers. In addition to its sale of perpetual licenses, the Group also offers annual maintenance contracts and trainings. In Missler Software solutions, the Group's customer base of more than 50,000 SMEs, SMIs and large groups finds answers tailored to their industry’s needs, which they can use from the design phase to production.
The group has a network of five commercial agencies across France (Evry, its head office, Lyon, Nantes, Toulouse and Nancy) and boasts a strong international presence through its own agencies and a network of distributors generating nearly 50% of the consolidated sales, standing at €45 million at end 2018, and showing continuous growth.
Following strong performance since the capital restructuring operation in 2015, the management team--which has forged Missler Software’s success over these last years--wanted to bring in a pool of investors led by Siparex to help the Group boost its development. Richard Lamure, Philippe Julliard, Patrice Tiberi, and Jean-Louis Jammot aim to continue gaining new international market shares by expanding the network of distributors and ramping up international subsidiaries. They also plan to implement an external growth strategy within the fragmented software publishing and distribution market.
As Richard Lamure explains, “This transaction is an integral part of the transfer project initiated three years ago. We extend our deepest thanks to the team of founding directors who made the completion of this fantastic project possible. Now, with great enthusiasm, we are heading into the future flanked by the investor teams led by Siparex. We aim to boost the group’s international growth by continuing external growth operations as well as enriching our range of TopSolid software programs with the development of new industry-specific applications.”
Alexandre Tremblin, Managing Partner of Siparex Group, says, “This transaction marks the success of a managerial transfer, ensuring continuity between the management team, led by Richard Lamure, and the 2005 takeover parties, who will continue to assist management. Missler Software's economic model, based on reference positions within specific industries, has proven its relevance over these last years, showing not only solid growth but also remarkable and recurrent operational performance levels.”
Nicolas Charleux, General Partner at iXO Private Equity, remarks, “Since acquiring a stake in 2015, we are very happy to have supported Missler Software in its strategic and managerial consolidation. A voluntary external growth policy translating concretely into the acquisition of Swiss and Italian distributors has helped accelerate its international development. The managerial and human qualities of founders Christian Arber, Jean-Luc Rolland, and Marc Choquin, and of the team led by Richard Lamure, helped bring this passing of the baton initiated three years ago to a successful conclusion.”
For forty years, Siparex has been assisting French intermediate-sized companies (ETI) with minority and majority financing operations. Siparex ETI structures its €5 to €40 million packages through its new generation fund, Siparex ETI4, which now counts seven contributing parties: Carso, Minafin, Ginger, Babeau Seguin, Apside, NG Travel, and Texelis.
Siparex covers the entire geographic scope from its eight sites, in addition to Italy (Milan) and Germany (Munich), and recently developed a transatlantic co-investment fund in partnership with the Desjardins Capital fund in Quebec.
Siparex manages more than €2 billion in capital, distributed between, for example, its Equity, Mezzanine, and Innovation activities (under the brand XAnge).
For further information: www.siparex.com
About IXO Private Equity
Founded in 2003, iXO Private Equity is the regional leader in independent capital investment in France.
With more than €700 million in assets under management, iXO Private Equity primarily handles growth capital and buyout capital transactions. It invests capital of €2 to 20 million per project, in companies based in the south of France.
iXO Private Equity is firmly anchored in the southern regions, with a stable team of 20 people, including
14 professional investors with complementary experience. Four of them are General Partners dedicated to the regions the company covers: Olivier Athanase (Nouvelle Aquitaine), Nicolas Charleux (Provence-Alpes-Côte-d’Azur), Jean-Luc Rivière (Occitanie), and Alexandre Sagon (Auvergne-Rhône-Alpes).
For further information: www.ixope.fr
About BPI France
Bpifrance provides financing for companies--at every stage in their development--with credit, guarantees,
and capital. Bpifrance provides backing for their innovation and international projects. Bpifrance also enables their export activity through a wide range of products. Their offer for entrepreneurs also includes advising, "Université" e-learning, networking, and an acceleration program for startups, SMEs and intermediate-sized companies. Bpifrance and its 48 regional sites offer entrepreneurs a unique and efficient partner who works with them closely to meet their challenges.
Learn more at: www.bpifrance.fr - Follow us on Twitter: @Bpifrance - @BpifrancePresse
About IRDI SORIDEC Gestion
Based in Toulouse, Bordeaux, and Montpellier, the management company IRDI SORIDEC Gestion provides capital for companies in southwestern France, at every stage in their development (Start-up, Venture Capital, Growth / Transfer Capital) through nine funds (Irdi, Soridec, Soridec 2, MP Croissance, Irdinov 1 & 2, Jérémie LR, Aelis Innovation, Inn’vest PME Occitanie Est, and Inn’vest PME Ouest). Its cumulative current investments stand at more than €300 million.