Ipside Group has signed a second LBO with Initiative & Finance, Bpifrance, GSO Capital and IDIA
February 2021 — Andera Partners has sold Ipside Group to Initiative & Finance, Bpifrance, Grand Sud-Ouest Capital (GSO Capital) and IDIA Capital Investissement.
Founded in 1980, Ipside was created by a series of mergers involving several industrial property firms: Lerner, Grynwald, Thébault, and more recently Ravina and Poupon. By bringing together firms with a different focus, Ipside gained a strong national presence. The Ipside Intellectual Property Law firm assists and advises international clients in the process of filing IP applications (patents, trademarks and models), and prosecuting and defending their intellectual rights both in France and abroad, notably in the EU. Based in Paris, Bordeaux, Toulouse, Nantes and Quimper, and including its branch offices in Las Vegas, US, and Shenzhen and Chengdu in China, Ipside has a team of more than 80 people.
Founded in 1984, Initiative & Finance is one of the leading players in France in the support and transfer of SMEs management buy-outs, owner buy-outs, management buy-ins and build-ups, and currently has 35 investments in its portfolio. With its latest fund Initiative & Finance FPCI III raised in December 2019 for US$250 million, Initiative & Finance has more than US$486 million of assets under management, excluding its MidCap Tomorrow fund currently being raised. Bpifrance finances companies, at every stage of their development, with credit, with a guarantee and with equity capital. Bpifrance assists them in their innovation and international projects. It also provides their export activity through a wide range of products, such as advisory services to universities, networking and acceleration programs for startups, SMEs and medium-sized companies. GSO Capital is an equity investment subsidiary of five Crédit Agricole Regional Banks in the south-west of France, and it manages approximately US$122 million in 65 active investments. Over the past 25 years, GSO Capital has supported over 200 regional companies. The firm invests its own funds in a minority role to support ambitious growth projects. IDIA Capital Investissement combines the minority stake private equity activities of the Crédit Agricole Group at a national level, supporting SMEs in all sectors.
Andera Partners is a leading private equity investment firm. The firm offers a full range of services, combining a culture of tailored solutions, stability, performance and innovation. Andera Partners serves customers worldwide.
Our role in the transaction
After having supported Ipside in its first LBO structuring in 2016, bringing in the investment fund Andera Partners, Oaklins’ team in France has now organized the exit of Andera and the structuring of a second LBO, as well as conducting a simultaneous buy-side process on two acquisition targets (Santarelli and Brevalex). Following a dual,track process involving PE funds, banks and strategic buyers in the IP sector, Oaklins was able to find the right investors for Ipside Group, while securing the bank financing for the transaction, thanks to a pool led by the group’s historical banks.
Christophe Cornuejols
Chairman, Ipside Group
Talk to the deal team
Related deals
ENGIE Énergie Services has sold Majorelle to Isospace
Majorelle, a pioneer in space planning in France for 40 years, has been sold to Isospace by ENGIE Énergie Services. The transaction marks a new chapter in Majorelle’s growth, bringing together complementary expertise in workplace design, space planning and fit-out while preserving its brand, teams and market positioning. Together, Majorelle and Isospace generate more than US$45 million in revenue, primarily in the Île-de-France region. The companies operate in a commercial fit-out market undergoing significant transformation, driven by evolving workplace needs, real estate asset repositioning, regulatory requirements and environmental and socioeconomic challenges. Philippe Savajols, president of Isospace and Majorelle, aims to ensure continuity for Majorelle and its teams while developing complementary capabilities and synergies across the group, preserving both companies’ respective cultures, expertise and client relationships.
Learn moreCibus has acquired Aweta from Standard Investment
Standard Investment has reached an agreement with Cibus Capital, advisor to the Cibus funds, on the sale of Aweta, a global leader in fruit and vegetable sorting, grading and packing equipment. Completion of the transaction is expected in the coming weeks. The transaction provides Aweta with a strong partner to support the company’s next growth phase. Under Cibus’ ownership, Aweta will pursue further international growth and accelerate investment in R&D, supporting the installed base and product innovation, including software and AI capabilities. Aweta’s leadership team will continue to lead the business.
Learn moreComtax has been acquired by Ryan
Comtax, a São Paulo-based tax technology consultancy specializing in tax determination and digital tax compliance, had been acquired by Ryan, the world’s largest firm dedicated exclusively to business taxes. The transaction marks Ryan’s entry into the Brazilian market, adding a specialized team and an established base of large corporate clients in Brazil, one of the world’s most complex tax environments, at a time when the country’s consumption tax reform is set to reshape how companies calculate and report indirect taxes. For Comtax, the acquisition brings access to Ryan’s global platform, technology and client network across more than 80 countries, creating opportunities to scale its tax determination and compliance offering beyond its current footprint. Comtax’s founders will continue to lead the business.
Learn more