European private equity player Ardian has used it growth fund to buy a minority stake in customer relations software-as-a-service publisher Eloquant.
The French company, which was founded in 2001, provides software to help manage customer relations across all telephone, email, chat and social networks.
Its customer portfolio consists primarily of mid-market businesses and large corporates operating in B2B or B2C activities.
Laurent Duc, CEO of Eloquant, said, “We wanted to speed up our development and strengthen our position, so we embarked on a new growth cycle based on our capacity for innovation and bolt-on acquisitions.
“With that goal in mind, Ardian Growth is the ideal partner because of its market expertise and substantial ability to provide support.”
Ardian Growth director Romain Chiudini said, “Eloquant has proven the relevance of its offer on the French market and the team has the ambition to establish itself internationally. It is the right moment for Ardian Growth to provide its support to help accelerate, particularly on external growth in Europe.”
Ardian pulled in €230m for its second growth fund just under a year ago, making it more than triple the size of its predecessor.
The fund will look to take both minority and majority stakes in fast-growing and profitable companies that want to accelerate their international development and external growth across France, Italy, Spain and the Benelux. It will deploy up to €25m per ticket.
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