Omnes Capital has invested EUR9 million in Bimedia, a provider of software solutions for local retailers, via a primary LBO (leveraged buyout) alongside management, A Plus Finance and Idinvest, which also provided the unitranche debt.
Founded in La Roche-sur-Yon (Vendée department) in 2002, Bimedia provides software solutions and point-of-sale terminals to almost 6,000 local retailers (newsagents, tobacconists, bakers). Other key strengths of the company include telephony sales, electronic payment systems and digital advertising sales across its network.
The management team, led by its Chief Executive Officer Olivier Kimmerling, is taking over from the founders Jean-Baptiste Pondevy, Dominique Chabot, Antoine Lacoste, Philippe Lévêcque and Thierry Michel. The first three retain an interest following the transaction. The company has 120 employees and generated EUR135 million in revenues in 2014.
The aim of the deal is to enable Bimedia to expand its network by making its products and services available to other types of local retailers in France and further afield.
“This deal is testimony to the quality of our teams and the success we have achieved, especially our exclusive partnership with the Maison de la Presse network and Mag Presse,” says CEO Olivier Kimmerling. “It will provide a boost to our strategy of leadership by delivering innovative point-of-sale solutions.”
Jean-Baptiste Pondevy, Founder and Chairman of Bimedia’s Supervisory Board, says: “This project, supported by our new ownership structure, ensures the continuity of Bimedia’s expansion strategy and gives us the wherewithal to reach our goals”.
Éric Rey (pictured), Partner, Omnes Capital, said: “We were impressed by the professional approach and ability to innovate of Bimedia’s management team. Thanks to its partnerships with advertisers, telecoms groups and fintech companies, Bimedia’s products and services provide a crucial pathway between e-commerce and local retailers.”
Benjamin Arm, Omnes Capital’s Managing Director, adds: “This deal is the second primary investment by the Omnes Croissance 4 fund, which invested in Cogepart in February. It has an exclusive option on two further deals that are set to be completed by the end of the year.
“This latest investment fits perfectly with our strategy combining rigorous selection of companies with great potential, primary deals, value creation predicated on organic growth and an active policy of acquisitions. This approach has proven its worth, as illustrated by the sale of Exclusive Networks in May based on a net multiple of 4.8x.”
