Mid Cap Buyout & Growth Capital,
by Omnes Capital

Selecting high-potential French SMEs to support their growth strategies

Strategy

  • Leading French SMEs with solid fundamentals, a resilient business model and strong development potential through organic and/or external growth
  • Enterprise value between €40 million and €180 million
  • Ticket size between €8 million and €25 million
  • Buyout and growth capital transactions

Investment Policy

  • A committed shareholder: Omnes works alongside entrepreneurs sharing the same business vision for their project
  • As a responsible shareholder, Omnes has signed up to the UN PRI and systematically incorporates ESG factors (environment, social, governance) into its analyses. These criteria are monitored each year to identify and propose ESG-related areas for improvement to management. An economic impact study is carried out at exit
  • Omnes is an entrepreneurial investor: the team draws on a network of experts with seasoned industry knowledge to provide highly effective guidance to portfolio companies

Key strengths

  • Value creation underpinned by earnings growth in portfolio companies
  • Distinctive deal flow: regional opportunities seized ahead of the market thanks to the team’s personal network of contacts and its historical ties to the Crédit Agricole Group
  • Strong regional roots giving it first-class access to primary transactions
  • Longstanding expertise, with the fourth generation of funds currently in fundraising
Key figures
€515
million in assets under management
36
investments and 54 build-ups
30
exits
2.1x
gross realised multiple
“In another life, I would have liked to have been a writer! As it turned out, my job as a leader is not so far from that of writer: I train my employees in a story towards a common goal: our vision. We write together the chapters of this story and live the twists and turns."
Nathalie
Coppola
Managing Director
Captain Tortue
Captain Tortue

Last December, Omnes invested in Captain Tortue, the European leader in direct selling of women’s ready-to-wear clothing, alongside BIP Capital Partners.

We sit down with Nathalie Coppola, Managing Director of Captain Tortue.

Why did you join Captain Tortue in 2016?

After spending 25 years working for UScompanies (Avon and Tupperware), Ifound it very invigorating joining this French family success story to continue its development and double its international success. My challenge is exciting: convincing teams to embark on a bigger journey, by applying the big American groups’ recipes, while maintaining Captain Tortue’s qualitative ingredients. As a Parisian, I did not know anything about the direct selling sector, but I ended up dedicating my entire career to it. It is a fascinating profession because it is deeply human and feminine.
The women who join us have often left their first job to devote themselves to selling our products. We must support them and identify talents capable of leading sales teams and developing their business.

How would you describe your management style?

One of the particularities of direct selling is the independent status of our sales force on the ground. As a result, you have to make people want to do things, rather than dictate. I therefore adopt a human management approach, making sure I motivate my teams, coach them and support them towards more autonomy and success. I try to inject good humour and passion in my employees, so that they feel good at work and give the maximum. I also pay particular attention to the age pyramid, to ensure good balance between all generations.

What attracted you to Omnes?

Their curiosity, their desire to understand our business model and their willingness to support us in our internationalization. The Omnes teams are very present and attentive, our discussions are lively and open. Omnes brings us their network and expertise on topics further away from our fields of expertise such as digital transformation for example.

captain-tortue
"Omnes Capital has given us full logistical and financial support to allow us to build up a truly pan-European organisation and become one of the leaders in this market".
Olivier
BREITTMAYER
CEO
Exclusive Networks
Exclusive Networks

A disposal that showcases an exemplary partnership.

The sale of Exclusive Networks to the Belgian fund Cobepa is a new great exit by the Mid Cap Buyout and Growth Capital team, with a valuation of €340 million and a multiple of 5x, for an investment which represented 15% of the CACI 3 fund.

Revenues up more than 500%

Omnes Capital acquired a stake in the company in 2010 in a primary leveraged buyout. In five years of achievement, the group has seen record growth.

The value-added distributor had two major strengths : the disruptive nature of its business (putting an end to the risk of technological obsolescence) and a distribution model that could be replicated internationally.

"The tasks were clearly shared out.They were in charge of technological watch and we were responsible for driving development through external growth and implementing the necessary financial resources", says Philippe Zurawski.
Exclusive Networks "muscled up"through a series of acquisitions.
Its growth rate today is four to five times higher than that of its rivals, with peaks at 60%. Margins are increasing through the sale of services, including training and maintenance. Despite the loss of an important card in 2011 – taken over by Cisco then integrated in its own distribution network – it is set to report revenues of €700 million at end-2015.

 

 

 

 

 

Olivier
Breittmayer
CEO,
Exclusive Networks

What made you choose Omnes in 2010 ?

We were looking for an investor with a robust standing to realise our acquisition strategy and one that could help us boost our credibility, especially internationally. But beyon that, it was also about people and trust. Omnes was quick to understand what made us tick and made the most suitable proposal.

How would you describe the five years spent together with Omnes ?

Omnes brought us all its logistical and Financial support to form a market-leading, pan-European business. We have grown from an SME working in a few countries to an international group, for which France now accounts for just 15% of revenues. Our organisational structure is well oiled, our costs are Under control and our ESG criteria* are stronger.

*The environmental, social and governance criteria integrated by a company in its daily management. These criteria are used to assess the company's Corporate Social Responsibility (CSR) Policy and the relevance ot its development model.

What are you objectives now ?

To continue developing through organic growth and acquisitions, consistent with the strategy devised with Omnes Capital. We also want to further reinforce our presence in new areas such as big data and leasing, particularly in Germany and the UK.

‘Super VAD’ value-added distribution model

Exclusive Networks, based in Boulogne-Billancourt, is Europe's leading independent value-added distributor (VAD) for the EMEA region, specialising in the marketing of solutions for businesses in the areas of cybersecurity, data centres and associated value-added services.
The group connects established and emerging global technology vendors from all over the world to markets in the EMEA region via its ‘Super VAD’ value-added distribution model. A specialist in cybersecurity solutions, Exclusive Networks works with more than 7,000 value-added reseller (VAR) partners.

Timeline :

2010 : Omnes acquires a share in Exclusive Networks.

2015 : The SME has become an international company with

– the creation of three subsidiaries, in Austria, Switzerland and Denmark, and
– the acquisition of ten companies, in Norway (Trigg Data), the UK (VADition and ITEC), Germany (TLK), the Middle East (Secureway), Benelux (Terach), Turkey (Bilisimcim), Australia (Whitegold), Italy (Sidin) and France (Fibail System).

2017 :  Exclusive Networks expects to top the symbolic mark of €1 billion in revenues

exclusive-networks
“It’s almost a personal relationship – one in which all parties participate on equal footing. Their assistance helped us get going in the right direction.”
Olivier
LENORMAND
CEO,
SVP Group

Five years after acquiring shares in SVP, Omnes Capital sells its take in the group.

We take a look back at this successful partnership

2011 :

Omnes acquires a €23 million stake in SVP


A 5-year partnership

  • 3 acquisitions in France and Canada between 2012 and 2016
  • 32 % turnover growth between 2011 et 2016

2016 :

  • 10,000 client companies and local authorities; 40,000 users
  • 650 employees located in France and Canada
A partnership for transformation

With a 32% uptick in turnover between 2011 and 2016, « we helped the Group complete three major acquisitions », explains Benjamin Arm, Managing Partner at Omnes Capital. The purchase of the French firm Fym Conseil in 2012 allowed SVP to round out its top management training offer.

 

In 2015 and 2016, « we worked together to find the best opportunities available, which ended up being in Canada with Synesis and Novaconcept and their e-learning solutions ». This decision achieved two goals in one fell swoop by strengthening the company’s existing offer and expanding into new markets.

 

« We concentrated our efforts on the sales force and lining up the product offer. In 2011, 90% of our offer focused on information service. Today, it is more diverse and includes an expanded training offer and a more complete externalised HR management solution ». The group grew again when it went from 500 employees in 2012 to over 650 working in France and Canada in 2016.

 

«Besides helping the group achieve its growth goals, we also helped it move into its new head office”. Between 2014 and 2015, SVP moved into 7,000-m2 of new office space in Saint-Ouen (93). “In addition to finding the site, it was also important to properly transfer the company’s operations, which is no easy task in the real-time information sector.” Likewise, capitalising on the low interest rates, “we refinanced the debt in 2015, which proved to be a major project, but we acted at the right time”. This strategy was win-win, “just like these past five years of a perfect partnership!»

3 questions for Olivier LENORMAND
Olivier
LENORMAND
CEO,
SVP Group
What were you looking for in this partnership with Omnes Capital ?

Our goal was to find a partner able to help us grow externally and organically in the international market with respect to our existing business lines while also rounding out our service offer. In Omnes Capital, we found an investor who, even before talking about money, worked proactively to understand our business lines, market, needs, and vision. The Omnes team presented us with the best possible action plan to reach our goals.

What have you achieved after five years of working together?

The outcome has been extremely positive. Our main contact person at Omnes was unfailingly enthusiastic, willing, and available. We spoke with each other on a regular basis outside of supervisory board meetings with complete transparency and a great deal of mutual trust. This is also what made us more agile and effective in our decision-making process. We were able to establish a truly personal relationship, which, in my opinion, was the key to our partnership’s success.

What comes next for the SVP Group?

The sale is happening at the right time. We have arrived at the end of our time with Omnes, but we will be pursuing our external growth strategy with other partners. We are currently finalising large-scale acquisitions in North America, Spain, and Germany.

svp-group
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Enable decision-makers to expand their skill set and ability to act on behalf of their business or their local authority
Specialist equipment for mining and mineral transportation
Key design partner for rapid-assembly industrial facilities available for sale, for rental or under lease and fully compliant with building regulations.
France’s number one inert materials management group
NewsRoom
Press release
18 July 2019
Omnes invests in Belgian consultancy firm Intys and signs Omnes Croissance 4 fund’s first international deal



Omnes invests in Belgian consultancy firm Intys and signs Omnes Croissance 4 fund’s first international deal
Captain Tortue supported since 2018 : interview with Philippe Jacquelinet and Nathalie Coppola
Publication
Scope, the Omnes review, June 2019
Press release
15 May 2019
SPHEREA continues its growth trajectory with a consortium comprising Andera Partners and Omnes
SPHEREA continues its growth trajectory with a consortium comprising Andera Partners and Omnes
Logo reveal video
Press release
13 December 2018
Captain Tortue accelerates its growth with Omnes and BIP Capital Partners
Captain Tortue accelerates its growth with Omnes and BIP Capital Partners
Press release
01 October 2018
Appointments within Omnes: Omnes brings on board two Associates, a Director and promotes a Partner, a Senior Director, and four Directors
Appointments within Omnes: Omnes brings on board two Associates, a Director and promotes a Partner, a Senior Director, and four Directors
Le Cercle Omnes des Entrepreneurs - January 31, 2018