Montagu has entered talks with Quilvest Capital Partners to buy Eudonet Group. No financial terms were disclosed. Based in Courbevoie, France, Eudonet is a developer of CRM software.
Montagu announces today that it has entered into exclusive negotiations with Quilvest Capital Partners to acquire Eudonet Group. Based in Courbevoie, France, Eudonet is a developer of CRM software serving 1,200 customers and 53,000 users, across France, the Netherlands, the UK, Belgium, Switzerland and Canada.
Eudonet was founded in 2000 and is one of the leading CRM providers for associations, local authorities, and higher education by developing products with a large set of pre-configured functionalities targeting specific customer needs.
Eudonet’s management team has grown the business considerably thanks to a scalable strategy that consists of improving functionalities continuously and replicating the vertical approach in selected sectors such as real-estate through investments in product development and acquisitions.
Antoine Henry, CEO of Eudonet, commented: “We are delighted to be partnering with Montagu and see considerable opportunity ahead for the business. Montagu’s expertise in the technology space and international expansion capabilities will be major assets for our company. This partnership will enable us to further develop the company through significant investments in product development and expansion in new verticals and geographies.”
Antoine de Peguilhan, Director at Montagu, said: “Eudonet is a great example of Montagu’s strategy of partnering with high-quality technology companies in their pursuit of growth. The management team has done a remarkable job at introducing best practices in all functions and processes, resulting in an impressive quality of operations. We believe that Eudonet is a scalable business with a solid technology platform and a strong management team, which can continue to achieve double-digit organic growth and further expand through M&A.”
Pascal Ambrosi, Director at Montagu added: “We were attracted by Eudonet’s core values of humility, collaboration, agility, and performance. Eudonet’s business model puts customers at the heart of everything they do, from innovative product development to efficient and quick product deployment, and customer service. This customer-first approach coupled with targeted acquisitions allowed Eudonet to strengthen its position in existing core verticals, to enter new attractive niches, and to expand internationally. We look forward to supporting the company and its over 200 employees in the next phase of their growth.”
Thomas Vatier, Partner at Quilvest Capital Partners said: “We are honoured to have partnered with the talented Eudonet management team, led by Antoine Henry and Fabrice Vernière, since early 2017. Since that time, Eudonet has considerably accelerated its growth, as a result of significant investments in the product development and deep vertical approach; in addition, over the period, Eudonet completed four add-on acquisitions, strongly expanding its presence internationally. Now more than ever Eudonet benefits from a great runway to accelerate its entrepreneurial development at home and abroad.”
The transaction is subject to the final and definitive agreement between the parties and customary conditions and provisions.