Clearwater International advises MBO Partenaires on the MBO of Sequoiasoft

Clearwater International has advised MBO Partenaires on the MBO of Sequoiasoft, a software publisher specialising in the hospitality (hotels, holiday rentals and campsites), restaurants and wellness (spas, thalassotherapy centers and thermal activities) sectors.

Sequoiasoft employs 240 people and is based in Sophia Antipolis, a technology park in France which primarily houses companies in the fields of computing, electronics, pharmacology and biotechnology. The company generated a 10% sales growth in 2018 and an EBITDA margin of 20%. Sequoiasoft is particularly strong in the campsites and wellness sectors with a market share of 50% and 70% respectively.

Sequoiasoft was created through the merger of three companies: Starflow Software, Softbooking and ADN Informatique. The company has since grown through acquisitions, by acquiring Cegid, which specialises in the hospitality and restaurant sectors and DL Software which specialises in the campsite sector. The strategy is to continue the consolidation of the market, by acquiring targets in both France and abroad.

This transaction sees MBO Partenaires become a majority stakeholder, while the CEO and Management own more than 35%. BNP Paribas Developpement and Bpifrance are reinvesting up to 15% of their shares.