US private equity firm Francisco Partners will become a co-controlling shareholder in Orisha, a European vertical software company based in France, investing in the business alongside TA Associates, Orisha’s majority shareholder since 2021, as well as company management.
Orisha, formerly known as DL Software, was established in 2003, providing enterprise resource planning software to end markets in France. The group now employs over 1,800 people and serves over 40,000 customers, according to a statement.
Previously supported by 21 Invest France, which is now a minority investor, Orisha has grown revenue by approximately four times and, since TA’s initial investment in 2021, has consolidated more than 25 business lines into five business units: retail, health & safety, construction, real estate and agri-food. These business units are now supported by centralised teams for finance, HR and technology infrastructure.
JP Morgan and Latham and Watkins advised TA, while Bryan Garnier and Paul Hastings advised Francisco Partners.
Financial terms of the transaction, which remains subject to regulatory and antitrust approvals and is expected to close in Q4 2024, have not been disclosed.
