CVC takes Sogelink stake as Keensight reinvests

Sogelink provides software to the infrastructure, construction and property management sectors.

UPDATEDCVC Capital Partners has joined Keensight Capital in its investment in Sogelink, a French software provider for the infrastructure, construction and property management sectors.

The enterprise value was over €1 billion, PE Hub Europe understands.

Sogelink has revenue of more than €120 million and EBITDA of €50 million, according to a statement. It employs over 600 people in six countries, has over 18,000 blue chip customers and has 220,000 users.

Keensight made a majority investment in the Lyon-based company in 2019 alongside Naxicap Partners. It has had double-digit revenue growth via organic means and also via M&A, including the acquisition of Regeldienst, a Dutch software company, in October.

Sogelink’s “leading position and pan-European reach set it up well for further organic and non-organic growth”, said John Clark and Jean-Christophe Germani, managing partners at CVC, in a statement.

GPs opting to reinvest in portfolio companies alongside other private equity buyers has been a big trend this year.

It’s likely that CVC will be able to bring some extra clout to Sogelink. The private equity firm has €177 billion of assets under management and a global network of 29 local offices, according to its website.

Keensight meanwhile has €5 billion of AuM according to its website and in June opened a US office in Boston to add to its Paris and London locations.

The advisers on the deal were Raymond James (sell side M&A), A&M Finance, A&M Tax, Paul Hastings (legal) and Bain (commercial).

Editor’s note: This story was updated to include the enterprise value and the advisers.