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EdRip invests in Eurogiciel

The buy-in management buyout deal comes from the Winch Capital 3 fund

Edmond de Rothschild Investment Partners has invested in the buy-in management buyout of French company Eurogiciel. Eurogiciel provides project support consulting services throughout Europe.

The majority investment comes from EdRip’s Winch Capital 3 vehicle, which closed on €300m in September of last year. This is the fourth investment from the fund, and sources familiar with the matter place the transaction value at approximately €15 million. Typical investments from this fund range from €10 to €30 million, for small to medium sized businesses in France.

Edmond de Rothschild Investment Partners declined to comment on the transaction.

While EdRip took a majority interest, the buy-in management buyout is likely to see the firm’s role evolve into a minority stake. The firm typically takes a minority interest, but sources say EdRip wanted to help facilitate the transaction.

Eurogiciel is based in Toulouse, France and has more than 1,000 employees. The company plans to use the investment to develop three business lines – project management, quality management and embedded systems. The capital reorganization will also facilitate a management transition.

Yvan Chabanne who joined Eurogiciel Group last December, will serve as president and CEO of Eurogiciel engineering, with a team that includes Christophe Reybert, CEO of Etop International, Stephane Garo, CEO of Equert International and Jean-Manuel Silva, CFO of the Eurogiciel Group.

Daniel Benchimol president and founder of Eurogiciel Group, will serve as chairman of the supervisory board and will join the new shareholders and new management team. He also retains a significant stake in the capital of the company. “As Chairman of the Supervisory Board I will be the guarantor of satisfying clients who have trusted us for over 25 years,” Benchimol said in a statement.