Marseille and Paris, on Friday, the 2nd of February 2018,
Extens and ACG Management announce the sale of their stake in ENOVACOM. The company is entering a new phase of its development following a sale agreement with Orange Business Services and its subsidiary Orange Healthcare.
Founded in 2002 and led by three of its historical founders, Enovacom is the French leader in software dedicated to health information systems to facilitate the exchange and sharing of patient data. Based in Marseille, Paris, Montreal and London, the company has more than 140 employees.
The company capital had been reorganised in 2014 with the investments of ACG Management (via its Growth 4 fund) and Extens. ACG Management and Extens are delighted to see the company’s development project continue with the Orange Group.
“ACG Management has supported the company through its funds since 2010 and has grown from 35 to 140 employees, developing new products and successfully deploying abroad. We are very proud to have contributed to the development of this leader who will further accelerate its growth with the support of a French actor such as Orange, “says Pierre-Philippe Jarre, Executive Director at ACG Management.
“Enovacom’s path is emblematic of the success of the software companies we want to support, and we are very pleased with this first sale,” says Quentin Jacomet, managing partner at Extens.
Renaud Luparia and Laurent Frigara, leaders of Enovacom, who will remain operationally involved as Managing Directors, add “A new development stage is emerging for Enovacom with this operation. We thank ACG Management for its long-term support and Extens for its contributions and support since 2014. With Orange, we will be keen to continue the qualitative and geographical development of our offer. ”
About ACG Management (www.acg-management.fr)
ACG Management, a specialist in investing in unlisted French SMEs, has been supporting companies for more than 15 years at all stages of their development (seed, innovation capital, development and transmission capital). The company intervenes in various and promising sectors with the aim of bringing out the champions of tomorrow.
The team offers a wide range of investment vehicles managed or advised including consumer funds (FCPI, FIP) or for professional investors.
ACG Management is one of the major players in the market, thanks to a unique positioning combining independence, innovation, expertise and proximity with (at the end of 017):
- € 889 million raised, managed or advised since the beginning,
- 40,000 private or institutional investors in 66 private equity vehicles,
- 359 companies* financed,
- A multidisciplinary team of 40 employees, including 19 dedicated investment professionals based in Paris, Marseille, Ajaccio, Bastia and Saint-Denis de la Reunion.
* Excluding the Caledonian Development Fund, NEOCAL Croissance and PACA Emergence. ACG Management is a signatory to the Principles for Responsible Investment (PRI) of the United Nations
Extens is a private equity firm, which is dedicated to e-health in Europe and invests as a reference shareholder.
Extens targets SMEs achieving turnover of 1 to 20m €, profitable or close to being and having demonstrated interoperability with the solutions in place in order to enable them to achieve their growth potential.
To date, Extens has also acquired Kayentis (Clinical Trial Data Collection), Must (ERP for PSAD), Snal (Cloud Solutions for Private Nurses) and Discngine (Research for Life Sciences). Enovacom was the first investment in portfolio.
About Enovacom (www.enovacom.fr)
Editor of software dedicated to the world of Health, Enovacom was created in 2002 to facilitate the exchange and sharing of patient data with confidence. The company has created a software suite to ensure interoperability and data security among all players in the health system. With more than 140 employees in France and in English & Canadian subsidiaries, Enovacom now works with more than 1,600 health facilities daily.
Participants in the operation:
ACG Management: Pierre-Philippe Jarre, Executive Director
Extens: Quentin Jacomet, Managing Partner
Legal advice / TAJ: Edouard Vichard, Isabelle Bompoint, François Marenghi / Nova Partners: Olivier Nett, Julien Imhoff
Orange Management Mergers & Acquisitions and Legal Affairs M&A
Financial and Tax Advice: PWC Finance: Steven Perrin, Hatim Chraibi, PWC Fiscal: Michel Combe, Diane Laske
Legal advice: Dechert François Hellot, Guillaume Briant and Aude Steinberg on the transactional aspects, assisted by Sophie Pelé on the regulatory aspects, Marianne Schaffner and Pierre-Olivier Ally on the intellectual property aspects, as well as Philippe Thomas and Thibault Meiers on the right aspects social