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Activity :
Business services, Tech & Digital

Customer :
ReportOne

Acquirer :
Ciclad

ciclad logo

Advice :
Tanguy Mantelin, Alexandra Marquand

About Largillière Finance

With offices in Paris, Brussels and Geneva, Largillière Finance is an independent investment bank dedicated to assisting managers and shareholders of small and medium-sized companies with their capital transactions: company sales and acquisitions, financing (capital and/or debt), financial engineering (valuation, etc.) and financial strategy.

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LBO/MBO/OBO, Sales - 2020

MBO of Ciclad

Largillière Finance advises Report One founders on their company’s transfer to management and the investment fund Ciclad

The leading SME reporting and business intelligence software company Report One is furthering its development, by announcing the acquisition of a major stake by Ciclad, the historic French private equity firm.

Founded in 2001, Report One produces reporting and business intelligence software solutions which improve access, analysis and recovery of SME data to support them with their growth, by helping them to seize new opportunities, adapt to market changes and make informed decisions.

The Report One group - which also creates the SaaS solution MyPortal-CRM for SMEs - is supported by a network of over 200 distributors and publishers across the country, with around 5,000 end customers (out of an estimated SME market of 140,000 companies), representing around 50,000 users.

With regional divisions in Albi, Bordeaux, Lille, Lyon, Nantes and Paris, the Report One group has 60 employees, and reported turnover of around €7.8 million in 2019 (up by more than 13% vs. 2018).

The two founders Philippe Timsit and Francis Savic approached the Largillière Finance team to organise the transfer. Several financial investors and companies were interested in Report One.

The transaction should allow the Report One group to boost its growth thanks to:

  • a leading majority shareholder, Ciclad, a historic private equity firm in France which has supported the growth of SMEs in France and worldwide for around 30 years, investing alongside managers during transfer or development transactions,
  • founders who remain minority shareholders and will take part in strategic discussions and decisions over the coming years,
  • its management duo: Thierry Luthi, who takes a stake and becomes Group President, and Thibaut Chesné, a current shareholder who becomes CEO,
  • its management committee, which will be part of the process to lead the group in its development with the men and women at Report One, and which is a crucial aspect of this growth strategy.

About Report One (https://www.report-one.fr/)

Report One is a French group founded in Paris in 2001 which creates business intelligence software for the SME market. Supported by its network of partners and 60 employees, it reported turnover of €7.8 million in 2019. Its flagship product MyReport offers SMEs a powerful, effective and easy-to-use BI solution which is quick to implement and tailored to the needs of teams.

About Ciclad (https://www.ciclad.com/)

Ciclad is an independent investment fund specialising in the takeover and development of mid-sized enterprises. Ciclad is exclusively involved in transfer and private equity transactions, always in partnership with company management. Since its founding in 1988, Ciclad has carried out over 160 transactions.

Stakeholders list :

Buyers : Ciclad Eric Bruguière, Hugues de Gastines, Kenza Cohen
Report One Thierry Luthi, Président de Report One, Thibaut Chesné, Directeur Général Report One
Target : Report One Philippe Timsit, Francis Savic, fondateurs de Report One
Target M&A Advice : Largillière Finance Tanguy Mantelin, Alexandra Marquand
Target Corporate Counsel : Lamartine Conseil Vincent Libaud, Amélie Cordier
Buyers Corporate Counsel : Gaftarnik Lévi Le Douarin Mickaël Lévi, Sarah Mobtahij
Financial Audit : Advance Capital Olivier Poncin et Guillaume Philippot

Philippe Timsit, Report One Founder:

We worked with a great Largillière Finance team, which not only contributed its skills in terms of locating investors, but also offered that crucial human touch. During the COVID-19 pandemic, the Largillière Finance team’s work was essential. Together, we successfully transferred Report One to the executive managers, who will be supported by the Ciclad fund. ”

Tanguy Mantelin, Largillière Finance Partner:

“Thank you to everyone involved in this transaction for skilfully adapting despite the pandemic: hard work for everyone, discipline, keeping our word and always a dash of humour to relax negotiations!

This transaction is very important to me, as it represents what Largillière Finance loves to do: a win-win deal for everyone involved, as part of an ambitious project which creates value for the company. ”

With more than 20 employees, a strong international presence and nearly 30 operations in 2020, Largillière Finance is ranked as the leading small cap investment bank in France:

2021 – Fusions & Acquisitions – Opérations Small Cap – Banque d’affaires – France 2021 – Capital investissement – Opérations LBO Small Cap – Banque d’affaires – France Silver Award 2021 “High-Tech & Healthcare” category “Distribution, Consumer Goods, Personal Services” category “Advisory firm: Positive growth” category

About Largillière Finance

With offices in Paris, Brussels and Geneva, Largillière Finance is an independent investment bank dedicated to assisting managers and shareholders of small and medium-sized companies with their capital transactions: company sales and acquisitions, financing (capital and/or debt), financial engineering (valuation, etc.) and financial strategy.

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