On July 19, 2023, Quilvest Capital Partners closed the acquisition of a minority interest in RCA, a French software editor dedicated to chartered accountants, alongside its founder and CEO Jérôme Clarysse and COO Emmanuel Ledoux.
Created in 1999 by Jérôme Clarysse, RCA offers to chartered accountants a BtoB advisory software suite, and a full SaaS BtoBtoB solution, “MEG”, targeted to their to their end-clients to deliver pre-accounting services. With more than 6,500 accounting firms equipped, RCA solutions are being used by c.65% of the French market players. In FY2023 (YE March), RCA generated sales close to €25m.
Please see below the official press release in French.
27 March 2023 – Quilvest Capital Partners Real Estate (“Quilvest”) is pleased to announce the sale of Business Campus Mainz (the “Property”) to Gold Tree Group.
Based in Mainz, Germany, Business Campus Mainz is a 44,000-square-meter modern office campus with a high diversity of tenants. Quilvest acquired the Property in 2015 alongside Boxberg Capital. Since its acquisition, Quilvest significantly modernised the Property to current market standards and repositioned it as a location of choice for office tenants seeking highly flexible, affordable space. Quilvest implemented an ambitious renovation programme, which included creating a new canteen, upgrading lobbies and common indoor areas, developing the car park, and improving the external landscaping.
Furthermore, Quilvest undertook a significant marketing drive to enhance the Property’s brand awareness to potential tenants and pursued several sustainability initiatives, including securing the “DGNB Gold” and “Wired Score Gold” certifications.
Patrick Laroche, Principal at Quilvest, commented: “We are delighted to have been part of Business Campus Mainz’s remarkable growth journey. We have significantly developed and upgraded the Property, making it an attractive asset for its future owner and long-term tenants. We are very pleased that we have achieved a significantly increased stabilised occupancy of over 90%, up from 55% when we first invested. We have extended lease durations by more than half and increased the Property’s NOI by over 50% since its acquisition. This is an excellent example of a typical Quilvest deal; we sourced an attractive asset with improvement potential at the right price and focused on operational, management and capital improvements to add value for all stakeholders.”
Quilvest Capital Partners invests in real estate across Europe and the US, focusing on inefficient “niches within niches” in the lower mid-market, where risk is mispriced and competition scarcer. Since its inception in 2012, the team has acquired $1.2bn of real estate across 30 transactions.
Quilvest Capital Partners (“Quilvest” or “QCP”), working with operating partner Arax Properties Limited, is pleased to announce that its dedicated real estate investment arm, QCP Real Estate, has acquired Falcon Works (the “property”), a multi-let industrial estate in Loughborough, UK.
The 53-acre property, strategically located in the heart of the UK Midlands’ ‘Golden Triangle’ logistics and industrial area, has strong upside potential with scope for increased occupancy rates and rental income. The property also offers great potential for the development of unused land and the redevelopment of obsolete space into new, grade-A space with a more efficient vehicle circulation plan and with significantly improved ESG characteristics. Quilvest intends to invest significantly in this redevelopment to support the growth of SME businesses in the Loughborough area.
This transaction is consistent with QCP Real Estate’s expanding strategic focus on the industrial and logistics sector, and strengthens the firm’s track-record investing in UK multi-let industrial projects. It is QCP Real Estate’s fourth transaction in this sector globally in the past nine months, with acquisitions in the US, UK and continental Europe. Previous investments in the sector include a multi-let industrial property investment vehicle created in partnership with Grosvenor, which was sold in 2019 for £155 million.
Patrick Laroche, Principal at Quilvest Capital Partners, commented:
“We are delighted to have completed this acquisition which maintains QCP Real Estate’s strong legacy investing in multi-let industrial assets globally. This is a highly attractive property, due to its favourable location and good accessibility, with significant scope for value add through development and commercial initiatives. This transaction is aligned with our strategic commitment to this segment, where we have significant UK experience via previous investments.”
About Quilvest Capital Partners
Quilvest Capital Partners , part of the Quilvest Group, is an alternative investment manager, currently managing around US$7 billion of assets. In addition to real estate, QCP operates investment programs in funds, direct private equity and private debt.
As part of its Real Estate activity, QCP targets middle-market value add opportunities in Europe and the United States. Its team of 12 highly experienced professionals based in New York, London and Paris have completed 28 deals since the inception of QCP Real Estate.
Quilvest Capital Partners announces that it has signed an agreement to acquire a minority stake in Les Secrets de Loly, a premium natural haircare brand dedicated to the beauty of textured hair. The president and founder of the brand, Kelly Massol, will retain a majority stake.
About Les Secrets de Loly
Founded in 2009 by Kelly Massol, Les Secrets de Loly designs and markets premium haircare products (shampoos, conditioners, treatments and styling products) using natural ingredients, that are specifically designed for textured hair (wavy, curly and frizzy). Driven by the quality of its products and the strength of its brand, the company has grown exceptionally in recent years and has established itself as a leading player in France within the space.
Starting as an online blog giving tips and advice on curly haircare, Les Secrets de Loly rapidly amassed an engaged community following and began creating its first products in the Parisian kitchen of its founder in 2009. The brand is now followed by more than 170k users on Instagram and offers a targeted range of 15 products, with 3 more Ecocert-certified products in the pipeline for 2022. Les Secrets de Loly is sold through a high-quality distribution network with notable strength in France and through premium retailers as well as hair salons.
Les Secrets de Loly’s strategic plan focuses on accelerating growth through product innovation and the opening of new distribution channels, both in France and internationally. Quilvest intends to support this growth, in particular by allowing the company to benefit from the strength of its international network.
For more information, visit https://www.secretsdeloly.com/
Quilvest Capital Partners is pleased to announce that it has made a substantial growth investment in UrgentMED, the premier independent network of urgent care clinics in Southern California. Quilvest is partnering with UrgentMED’s co-founders, Dr. Jacob Rastegar, Dr. Morris Kokhab and Dr. Pejman Bolourian, who will each remain significant shareholders and will continue to lead the business going forward. Financial terms of the transaction were not disclosed.
Founded in 2007 and headquartered in West Hollywood, California, UrgentMED operates 35 urgent care clinics in the Southern California region, including Los Angeles County, Orange County and Ventura County.
“We are thrilled to partner with Drs. Rastegar, Kokhab and Bolourian,” said Jay Takefman, Partner and Co-Head of Direct Private Equity at Quilvest. “UrgentMED has established itself as the leading independent urgent care network in Southern California and is ideally positioned to meet consumers’ and payors’ demands for convenient, affordable and high-quality care by deploying its broad healthcare offering across its clinic footprint. We look forward to joining UrgentMED on the next phase of its journey as the company continues its growth strategy,” he added.
Dr. Rastegar, Dr. Kokhab and Dr. Bolourian (co-founders and co-CEOs), stated: “We welcome the Quilvest team to the UrgentMED family. Quilvest is an ideal partner for us due to its deep understanding of multi-unit business models, healthcare sector expertise and vast network of resources to help us grow. We are excited to have a supportive partner who shares our vision.”
Benjamin Sass, Principal at Quilvest, added: “UrgentMED is an exceptional business led by an exceptional team. We look forward to helping UrgentMED accelerate its expansion strategy, while continuing to leverage UrgentMED’s patient-centric model and culture of care.”
Quilvest Capital Partners is pleased to announce that Tortilla, the largest and most successful fast-casual Mexican restaurant group in the UK, began trading its shares on AIM on 08 October 2021, a market of the London Stock Exchange.
Tortilla specialises in the sale of freshly made Californian-inspired Mexican cuisine. The Group has 62 sites worldwide, comprising 50 sites in the UK operated by the Group, two sites franchised to Select Service Partners UK Limited in the UK, and 10 franchised sites in the Middle East. Quilvest invested in Tortilla in 2011.
Loeïz Lagadec, Partner at Quilvest, said:
“We are extremely proud of Tortilla’s progress over the past 10 years. We multiplied the number of stores by ten! It has been an exciting journey with an inspiring leadership group and board members. The successful IPO on AIM marks a really exciting milestone for the business and its shareholders”.
|Quilvest Capital Partners has announced today it has acquired a majority stake in Solem, alongside the company’s CEO Frédéric Comte who reinvested massively in the transaction. Bpifrance took a minority stake alongside Quilvest.|
|Founded in 1984 and managed by Frédéric Comte since 2016, Solem is a state-of-the art designer and assembler of connected devices focused on telecare, irrigation and pool. Since the arrival of Frédéric Comte, Solem has been successfully transformed from a contract manufacturer of electronic devices into a leading IoT player with internationally renowned brands.|
|Quilvest (Thomas Vatier and Hichem Hadjoudj) will support Solem in its ambitious development strategy, organically and through acquisitions.|
Paris, le 11 mai 2021 – BLUE (ex-Bretagne Télécom), Service Cloud Provider pour les entreprises, accompagné par Quilvest Capital Partners, a annoncé ce jour l’acquisition d’Oceanis, expert vendéen des solutions et services IT. Forts d’un portefeuille de plus de 300 clients et d’un chiffre d’affaires de 4 millions d’euros en 2020, Oceanis et ses 36 collaborateurs rejoindront officiellement BLUE et adoptent dès aujourd’hui son nom et ses couleurs.
Quilvest Capital Partners, appuyé de Bpifrance et de Crédit Mutuel Equity, a épaulé BLUE tout au long de cette acquisition pleine de sens pour le développement des services de réseaux privés, de communications unifiées et de Cloud privés sécurisés à destination des entreprises : PME, ETI et grands comptes de l’arc Atlantique.
Cette acquisition est financée à l’aide de lignes de crédit existantes et nouvelles représentant un total supérieur à 35 millions d’euros, apportées par le pool existant de BLUE et de nouveaux partenaires bancaires.
Nicolas Boittin, fondateur et PDG de BLUE, déclare : « Je suis très heureux d’annoncer cette première acquisition. Je suis impatient d’accueillir nos nouveaux collaborateurs d’Oceanis dont les expertises et les talents conjugués aux nôtres constituent un atout formidable et un levier stratégique certain pour accompagner notre dynamique de croissance et poursuivre notre développement géographique. »
Guillaume Laboureix, Principal chez Quilvest Capital Partners, ajoute : « La croissance externe est au cœur du projet commun de BLUE et ses actionnaires et nous sommes très enthousiastes à l’idée d’ajouter les compétences d’Oceanis à celles de BLUE. Cette acquisition constitue la première étape d’une série à venir, toutes essentielles à l’accélération de la stratégie de BLUE. »
Fondé en 2005, BLUE accompagne les directeurs des systèmes d’information des entreprises et collectivités dans le maintien en condition opérationnelle des infrastructures de près de 3 000 PME, ETI et grands groupes en France. Grâce à son réseau privé de 8 Data Centers interconnectés – dont un Data Center propriétaire à Châteaubourg (certifié ISO 27001 et Hébergeur de Données de Santé), une excellente qualité de service et une forte proximité avec ses clients, BLUE a su générer une croissance extrêmement rapide au cours des dernières années. En 2020, l’entreprise emploie plus de 110 collaborateurs pour un chiffre d’affaires de 24 millions d’euros.
Depuis 1993, le groupe Oceanis, implanté en Vendée à Saint-Gilles-Croix-de-Vie, au cœur de la région particulièrement dynamique des Pays de la Loire, accompagne les entreprises et collectivités locales dans la mise en œuvre de leur système d’information et la valorisation de leur capital numérique autour de trois grands axes : (1) l’implémentation et l’exploitation d’infrastructures, systèmes, réseaux et télécommunications, (2) le développement d’applications spécifiques et de logiciels, ainsi que (3) l’infogérance et l’externalisation de tout ou partie du système d’information. Oceanis dispose notamment d’une forte connaissance des technologies AS400 : Infrastructure as a Service (IaaS) sur des serveurs dédiés ou mutualisés (Windows, Linux, AS400).
Quilvest Capital Partners appreciates all of the interest and participation in our March 11, 2021 Real Estate Conference.
We had the pleasure the share our view on why we believe today to be a good time to invest in Real Estate. Undeniably, the current economy will benefit to specific geographies and themes, which are key components of our latest program’s strategy and approach.
Since we launched our Real Estate activity, we have been developing local networks of relationships. This allowed us to access attractive opportunities in the value-add space, and we will keep developing these relationships to ensure an optimal portfolio construction.
This conference was the starting point of a discussion we would be delighted to have with you on how to enhance your exposure to this asset class.
The Quilvest Capital Partners Team
Quilvest Capital Partners is pleased to reach the next phase of the repositioning of an inner-city shopping center, capitalising on its prime retail location right next to the train station of Bergisch Gladbach (western Germany).
Once refurbished, the center will offer an enhanced experience for visitors, catering to their daily needs on the ground floor and opening a more diversified range of services on the upper floor.
We welcome Kintyre to this exciting conversion project!
More information on the link on the right :
Check out this article regarding the COVID-19 impact on Commercial Real Estate by our Partners Barry Hammerman and Michael Kandarakis !
Quilvest Capital Partners and Thoma Bravo announced today a definitive agreement for the acquisition of Command Alkon by Thoma Bravo
Quilvest is pleased to announce that today it closed on the sale of Command Alkon (“Command”) to Thoma Bravo
This sale is the culmination of a successful, decade-and-a-half hold for Quilvest, during which time Command transformed from a legacy license/maintenance software provider to the ready-mix concrete industry to an integrated cloud-enabled platform focused on the broader heavy building materials industry. Quilvest supported Command by helping execute eight acquisitions over four continents, optimizing capital structure including multiple recapitalizations and helping professionalize the business through various management succession planning and governance initiatives and technology upgrades.
“This agreement is a testament to Command Alkon’s sustained growth, leading market position, and the opportunities opened by our purpose-built platform for heavy construction,” said Larry Neubauer, a Senior Partner at Quilvest and Chairman of the Board at Command Alkon. “Both the Board and Quilvest are excited to announce Thoma Bravo’s stewardship of the company. Their investment track record in B2B enterprise software should only accelerate the integration of the heavy construction supply chain and deliver more value to customers faster.”
“We’ve had the benefit of knowing and watching Command Alkon and Phil Ramsey for over a decade now,” said A.J. Rohde, a Partner at Thoma Bravo. “We believe in the company’s vision of an integrated supply chain across the heavy construction market, and we can bring our world class operating principles to help realize their vision faster for the benefit of all constituents.”
“After an extensive evaluation of strategic alternatives, we are confident this agreement represents the most favorable outcome for our amazing industry, customers and employees,” said Phil Ramsey, CEO at Command Alkon. “Thoma Bravo adds strategic and operational expertise to our business, with a keen focus on executing on our long-term strategy. We look forward to working closely with all parties to complete this transaction.”
“I’m so thankful for our 15-year relationship with Quilvest,” added Ramsey. “Their confidence and support have positioned us exceptionally well as we embark on the next chapter of Command Alkon’s growth and industry leadership story.”