21 Invest France takes majority stake in TVH Consulting
21 Invest France has continued to deploy its Fund V by taking a majority stake in TVH Consulting. The deal, signed on 5 August, 2021, allows the exit of the current shareholders led by Sparring Capital. The management team and all employee shareholders reinvested in the transaction.
Founded in 2003, TVH Consulting (TVH) supports SMEs towards more efficient business processes thanks to the integration of ERP and Business Intelligence (BI) solutions from Microsoft and SAP, as well as to the edition of business software.
Beyond being a Microsoft/SAP independent partner, TVH has developed in-house ERP and BI modules dedicated to 10 specific verticals such as cooperatives, life sciences, distribution or even the manufacturing industry. This hybrid model allows the group to generate both services revenues (accounting for 60 per cent of sales) and software revenues (accounting for 40 per cent of sales).
The group's unique expertise and its recognised innovation capacity enable it to offer tailor-made business solutions. The latter are fully adapted to the challenges of its 300-plus clients and ready to be rolled-out in France and abroad. Thus, the company reaches EUR30 million sales with a solid profitability.
21 Invest France will accompany the management team in its strong organic growth and in the acceleration of its platform strategy, with the acquisition of integrators and editors in order to broaden the group’s offer and strengthen its position in existing segments. Several acquisitions with significant synergies have already been identified.
Ahmed Mahcer and Eric Boisneault, respectively Chairman and Managing Director of TVH Consulting, say: “After a successful first phase with Sparring Capital, we are very happy to partner with 21 Invest for the years to come. We wish to rely on the expertise of our new partner in the software industry and in the creation of service platforms, particularly in Europe and North America, to implement our numerous expansion and market consolidation projects."
Stéphane Perriquet, Managing Partner at 21 Invest France says: “21 has a good knowledge of the ERP industry, in particular thanks to our investment in DL Software. We are deeply convinced by TVH's unique positioning, which combines software and services and which has been able to develop a highly successful vertical offer. TVH has the key assets to become an undisputed leader in its market and we are delighted to support Ahmed, Eric and their team in this new stage of growth acceleration which will combine organic growth and an ambitious acquisition strategy."
Arnaud Leclercq, CEO at Sparring Capital adds: “Congratulations to the management team of TVH Consulting and particularly to Ahmed Mahcer and Eric Boisneault! By relying on the excellent fundamentals of the company, they have been able to accelerate its development and enhance its differentiating factors, in particular the publication of vertical ERP solutions with high added value. Beyond that, they managed to perfectly federate their teams and those of the acquired companies to build a real group. Sparring Capital is pleased to have contributed to this great success. "