Advising the shareholders sellers (21 INVEST, les fondateurs, Amundi PE Funds, Swen Capital Partners) on the sale of their majority share on the capital of DL Software, a leading France-based group of enterprise resource planning (ERP) software providers, to TA Associates. Current DL Software majority shareholder 21 Invest France, as well as company founders and management, would each retain a stake in the business following TA’s investment.

21 Invest France
acquired a majority stake in DL Software in May 2017, with the ambition of asserting the group’s leadership in various niches of the ERP software market.

After having organized the managerial transition between the two founders (Jean-Noël Drouin & Patrick Lemaire) and Jacques Ollivier, appointed CEO, 21 supported DL Software in the implementation of a sustainable development project combining an organic growth and a build-up strategy.

Thanks to a strengthened organization and a remarkable resilience, DL Software has experienced strong growth each and every year over 21’s tenure, including in the volatile environment of 2020.

In partnership with 21, 7 build-ups were completed as part of an ambitious acquisition
strategy supported by the recruitment of a deputy CEO coming from the M&A sector, Vincent de Saint Sernin, who, along with Jacques Ollivier, ensured the optimal integration of each company. Supported by the group, companies have developed their activity by optimizing their innovation capacity, lead generation and service level. The companies of the Group have been able to significantly improve the recurring part of their revenues, enabling DL Software to increase its profitability and strengthen its positioning.

Today, DL Software is an undisputed leader in the ERP software solutions market, with 13 editors covering various sectors such as retail, healthcare, wholesale, tourism and real estate. The company generated a turnover of nearly €M 75m in 2020 compared to €M 48 in 2016. The group is now ideally positioned to successfully pursue expansion in France and Europe, with the support of TA Associates.