from EURAZEO (EPA:RF)
EURAZEO INVESTS IN RYDOO, THE FAST-GROWING INTERNATIONAL EXPENSE MANAGEMENT SOFTWARE PROVIDER
EURAZEO INVESTS IN RYDOO, THE FAST-GROWING INTERNATIONAL EXPENSE
MANAGEMENT SOFTWARE PROVIDER
Paris, 19 June 2024
Eurazeo, through its Small-mid buyout team, is pleased to announce its investment in Rydoo, a leading global provider of expense management software. Rydoo’s product offering empowers corporate clients to manage and control employee spending through smart and automated expense management solutions. The transaction will be the ninth investment for Eurazeo PME IV and sits at the core of the Small-mid buyout strategy of supporting fast-growing European technology and B2B services’ SMEs in their international expansion.
Headquartered in Belgium, Rydoo provides a flexible and powerful SaaS solution to automate corporate expense management with best-in-class end-user experience and a set of advanced features to address the needs of finance departments. The company serves a loyal and growing customer base of 3000+ midsize and enterprise clients across 132 countries.
Operating in a large global market experiencing double-digit growth thanks to positive structural drivers (penetration of digital expense management solution, new features such as smart audit, etc.), Rydoo has delivered a strong growth track record, posting over +32% organic CAGR over the past years to reach €20+m ARR.
The management team of Rydoo and the Eurazeo Small-mid buyout team share the ambition of supporting innovation to further broaden the value proposition for clients and maintain their high satisfaction level, a key success factor to Rydoo’s fast-paced organic growth.
The completion of the transaction remains subject to the realization of customary closing process and operations. Funds managed by Eurazeo will become the majority shareholders. Current financial sponsor Marlin Equity Partners will reinvest to continue to back Rydoo’s success alongside Eurazeo.
Benjamin Hara, Partner – Small-mid buyout, at Eurazeo said:
« We are delighted to partner with Sebastien Marchon, his team and Marlin Equity Partners and look forward to backing the company’s next growth chapter. Software is a key focus sector for the Eurazeo Small-mid buyout team and we believe Rydoo is a perfect match to our ambition of supporting leading businesses with a proven track record, strong momentum in attractive endmarkets, and talented leadership. »
Sebastien Marchon, CEO of Rydoo:
« Rydoo has established itself as a key player in Expense Management with a large base of loyal international clients that we serve in 132 countries. We are ready to accelerate and strengthen our position in key markets. Eurazeo, with its tech expertise, value creation insights and global presence, is the ideal
EURAZEO
1, rue Georges Berger – 75017 Paris www.eurazeo.com
partner for this new chapter. We are excited to start working with the Eurazeo Small-mid buyout team and feel very aligned in terms of pragmatic business mindset and core values, including a strong ESG commitment. »
Jérémy Nakache, Marlin Equity Partners:
« We are proud to have supported Rydoo and its management team over the past few years in its successful growth strategy. Eurazeo is a great partner to support the company in its expansion and we are very pleased to continue the journey as we keep seeing exciting opportunities ahead for Rydoo. »
ABOUT EURAZEO
• Eurazeo is a leading European investment group with €35.0bn in diversified assets under management, including €24bn on behalf of institutional and private clients through its private equity, private debt, real estate and infrastructure strategies. The Group supports more than 600 mid-market companies, leveraging the commitment of its 400 employees, its sector expertise, its privileged access to global markets via 12 offices in Europe, Asia and the United States, and its responsible approach to value creation based on growth. The company's institutional and family shareholding structure, and its solid financial structure, ensure its long-term viability.
• Eurazeo has offices in Paris, New York, London, Frankfurt, Berlin, Milan, Madrid, Luxembourg, Shanghai, Seoul, Singapore, Tokyo and Sao Paulo.
• Eurazeo is listed on Euronext Paris.
• ISIN : FR000121121 - Bloomberg : RF FP - Reuters : EURA.PA.
ABOUT MARLIN EQUITY PARTNERS
• Marlin Equity Partners is a global investment firm with approximately $9 billion in capital commitments. The firm is focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs. Marlin invests in businesses across multiple industries where its capital base, industry relationships and extensive network of operational resources significantly strengthen a company’s outlook and enhance value. Since its inception, Marlin, through its group of funds and related companies, has successfully completed nearly 250 acquisitions. The firm is headquartered in Los Angeles, California, with an additional office in London.
• For more information, please visit www.marlinequity.com.
ABOUT RYDOO
• Headquartered in Belgium, Rydoo is a SaaS software provider of solutions to automate expense management for medium and large corporates. Natively global, the company serves a loyal and growing customer base of 3000+ mid to large B2B clients across 130+ countries.
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EURAZEO CONTACT PRESS CONTACT
Coralie Savin Mael Evin (France)
GROUP CHIEF COMMUNICATIONS OFFICER HAVAS
csavin@eurazeo.com MAEL.EVIN@HAVAS.COM +33 (0)6 86 89 57 48 +33 (0)6 44 12 14 91
Pierre Bernardin David Sturken (UK)
DIR. RELATIONS INVESTISSEURS H/ADVISORS MAITLAND ir@eurazeo.com david.sturken@h-advisors.global
+33 (0)1 44 15 01 11 +44 (0) 7990 595 913
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