IK Partners (IK)’s IK Small Cap IV Fund (IK SC IV) has signed an agreement to invest in Endrix, a French accountancy and advisory firm, alongside existing partners. This represents the third transaction signed from IK SC IV, which held a final close on €2bn in July. Financial details of the transaction have not been disclosed and completion is subject to customary regulatory approvals.
Founded in 1978 in Lyon, Endrix is an accounting and advisory services provider to small and medium-sized enterprises (SMEs) and mid-market companies, with a presence across 35 offices in France. The group provides a service offering combining accounting, audit and both financial and non-financial advisory to support its 12,000 clients.
To strengthen its regional footprint, core business, and expand its service offering, the firm has made several strategic acquisitions. Following the integration of Zalis in 2023 and Mageia Partners in 2024, the group acquired Exelmans in May 2025.
In anticipation of major shifts such as AI adoption and e-invoicing, Endrix positioned itself with the co-creation of Impulse Data in 2023 to deploy a data lake covering over 800,000 companies, along with its own approved platform for e-invoicing.
In 2021, Endrix received the investment from Bpifrance. The company believes the partnership with IK will allow it to to accelerate its digital transformation, strengthen its organisational structure and pursue a growth strategy both in France as well as internationally, allowing it to better meet the evolving needs of its clients. Leveraging IK’s sector expertise in European Financial and Professional Services, the group also aims to expand its international activities, particularly in cross-border markets such as Switzerland, Italy and Spain through a targeted M&A strategy.
