- Natixis Partners and Clipperton jointly acted as financial advisor to Brigdepoint Development Capital (BDC) on its majority stake acquisition in Groupe Sinari.
- With revenues amounting to almost 40 million euros and more than 6,000 customers, Sinari will further accelerate with this new LBO in which BDC acquired a majority stake, alongside its existing shareholders New Alpha Verto and the management.
- This transaction evidences Clipperton’s unique expertise in the logistics space having notably successfully advised Packlink on its sale to Thoma Bravo’s portfolio company Auctane. It also further positions Clipperton as reference financial advisors on software LBO transactions, with a track record including Ecovadis (LBO with Astorg), VLEX (LBO with Oakley Capital), or Praxedo (LBO with MBO+).
About Sinari:
- Born after the merger of OMP and GPI in 2019, Groupe Sinari has established leadership position as a provider software solutions for the road haulage and logistics sector and pursue an ambitious development strategy across Europe. With 260 employees and offices in France and Belgium, Sinari supports its customers in the transport and logistics sectors, helping them meet the challenges of tomorrow.
- The Group has undergone significant growth in recent years following successive acquisitions that have enabled the group to strengthen its core market (TMS, telematics and WMS) and expand into new geographies (Benelux).
- Driven by both regulatory changes, the growing demand for advanced logistics solutions in a post Covid-19 environment and the ever increasing digitization of data exchanges between players in the supply chain eco-system (shippers, logistics providers and carriers, Groupe Sinari taps into a particularly buoyant software publishing market, mainly addressing the transport and logistics industries:
- The breadth of Sinari’s offering enables them to address both small companies with flexible, easy-to-use solutions, and large international transport groups;
- Sinari and its subsidiaries offer a complete range of Transport Management Systems (TMS), Fleet Management Systems (FMS), Onboard Computing and Social Management, Warehouse Management Systems (WMS), Route Optimization, Garage Management and Career Management.
Deal Rationale:
- Sinari is the clear market leader in France, and very well positioned to continue consolidating the European market. To achieve this ambition, Sinari has chosen to enter into a partnership with Bridgepoint – notably due to its extensive experience in this field, thanks to its investments in Memnon Networks (TMS) and more recently PTV (traffic management solution). BDC will support the group in accelerating its international development and developing in new vertical markets.
- With a team of 36 investment professionals in Europe, Bridgepoint Development Capital is one of the few mid-cap investors able to support the international development of small and mid-sized companies through its nine investment offices and operational teams based in New York, San Francisco and Shanghai. BDC invests between €40m and €150m through its latest fund, BDC IV, which was raised in 2020.
- Thomas Moussallieh, Bridgepoint Development Capital Director, stated: “We are delighted to have the opportunity to support the Sinari teams in their ambitious European development project, which is at the heart of BDC’s strategy, in particular to support a software leading player in its segment. In addition to the company’s market potential and its leading position in France, we were quickly won over by Sébastien and his team: his vision of tomorrow’s challenges and his determination to anticipate the changes taking place in the world of software for carriers convinced us to get on board this ambitious project.”
Clipperton’s Selected Track Record:
- This transaction evidences Clipperton unique expertise in the logistics space having notably successfully advised Packlink on its sale to Thoma Bravo’s portfolio company Auctane.
- It also further positions Clipperton as reference financial advisors on software LBO transactions, with a track record including Ecovadis (LBO with Astorg), VLEX (LBO with Oakley Capital), Inova Software (LBO with Carlyle) or Praxedo (LBO with MBO+).
Deal Team:
Transaction Advisory:
- Nicolas von Bülow, Managing Partner
- Martin Vielle, Partner
- Pierre Ruaud, Managing Director
- Olivier Dardel, Managing Director
- Dorian Cherruault, Associate
- Nathan Burnel-Hauteville, Analyst
- Clara Lamotte, Analyst
Debt Advisory:
- Denis Vidalinc, Managing Director
Read the French press release here.
About Clipperton
Clipperton is a leading investment bank dedicated to technology and growth companies. We provide strategic and financial advisory to entrepreneurs, corporates, and top-tier investors in Europe willing to execute transactions such as strategic M&A, private equity transactions, and private placements. Founded in 2003 and with offices in Paris, Berlin, Munich, London, New York, and Beijing, Clipperton has completed over 400 M&A and private placement transactions with fast-growing technology start-ups, blue-chip corporates, and renowned financial investors.