Fri 10/02/2020 12:33 PM
Tikehau Capital has supported Apax Partners’ acquisition of French cloud business Odigo with a €100 million unitranche facility at 4x leverage, sources told Reorg. Continue reading for the EMEA Middle Market by Reorg team's update on Tikehau Capital, and request a trial to access our coverage of hundreds of other mid-market situations.
The enterprise valuation was based on an EBITDA below €20 million, as future cash flow for the company was unclear due to the Covid-19-related volatile market and R&D costs needed consideration, according to sources. BNP Paribas acted as financial advisor for Odigo, sources said.
Founded in 1986, Odigo, a Capgemini brand formerly known as Prosodie-Capgemini, is an omnichannel cloud platform. The business has about 650 employees and more than 200 customers in nearly 100 countries.
Tikehau did not respond to Reorg’s request for comment.
--Kerstin Kubanek, Lucía Camblor
This article is an example of the content you may receive if you subscribe to a product of Reorg Research, Inc. or one of its affiliates (collectively, “Reorg”). The information contained herein should not be construed as legal, investment, accounting or other professional services advice on any subject. Reorg, its affiliates, officers, directors, partners and employees expressly disclaim all liability in respect to actions taken or not taken based on any or all the contents of this publication. Copyright © 2020 Reorg Research, Inc. All rights reserved.