Over the last 30 years VISIATIV has become a leading partner in helping businesses go digital, with a turnover of €124 million, with 830 staff members and around 15 000 clients in 2017. Listed on the stock exchange since 2014 they have intensified their expansion strategy over the last few years. As part of their plans to expand internationally the Group took an interest in INNOVA SYSTEMS, a British firm which distributes the software SOLIDWORKS in the UK, which is edited by Dassault Systèmes, a long-term partner of VISIATIV. Based in Cambridge, INNOVA SYSTEMS had a 2017 turnover of 4.3M€, a growth of 9%, with a team of 16 people.
Laurent FIARD, CEO and co-founder of VISIATIV, asked his usual legal firm, LAMY LEXEL Avocats Associés, to accompany his group in this international transaction.
The firm reached out to PANNONE Corporate, with whom LAMY LEXEL has a strong working relationship due to their involvement in the network PLG International Lawyers and regular exchange programmes between their young lawyers.
The two firms worked in consultation, LAMY LEXEL co-ordinating actions, communication and translation between VISIATIV and the various stakeholders in the operation, whereas PANNONE Corporate, as an English law practice, validated the conditions of the operation (due diligence) and produced the legal documentation necessary for its completion.
INNOVA SYSTEMS capital, owned by its two directors and founders, was transferred in its entirety to VISIATIV during the month of June 2018, at an undisclosed price. One of the two managers of INNOVA SYSTEMS will remain in position to ensure the smooth transition and development in the UK.
Camille BRODHAG, VISIATIV’s Mergers and Acquisitions Director, says: ” due to our active expansion policy, our ability to carry out M&A operations is key, and we have high expectations of our legal partners ; this transaction was facilitated by high quality and efficient work, both by LAMY LEXEL for the coordination of operations and by PANNONE in their execution. Also, each firm explained the steps clearly, meaning we were able to understand the local legal stakes and improve communication with the vendors and their intermediary. “
Project stakeholders :
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