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.
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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
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