TA Associates, a global growth private equity firm, today announced that it has entered exclusive negotiations to make a majority growth investment in DL Software, a France-based group of enterprise resource planning software providers. 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. The envisaged transaction, which is currently under review by representatives of the company’s employees, is expected to close in the second quarter of 2021, subject to customary approvals.
“DL Software has become a leading B2B software player in France through a longstanding strategy of acquiring and growing highly-verticalized ERP vendors,” said Maxime Cancre, a principal at TA Associates who would join the DL Software board of directors. “We are pleased to announce this prospective investment and look forward to partnering with DL Software management and our fellow investors in actively seeking new growth opportunities for the company.”
De Pardieu Brocas Maffei served as legal counsel, DC Advisory as M&A advisor and Eight Advisory as financial advisors to DL Software and its shareholders. Latham & Watkins served as legal counsel, Bryan Garnier as M&A advisor and KPMG as financial and tax advisor to TA Associates. Jausserand, Audouard and Oloryn advised management.