Software & Fintech, M&A

Bryan, Garnier & Co acts as Sole Financial Advisor to Francisco Partners on its investment in Orisha, a leading European Vertical Market Software platform

Headquartered in Paris, Orisha, formerly known as DL Software, was established in 2003 to bring industry-specific ERP software to a variety of end markets in France.

The group now employs over 1,800 people and offers highly specialised vertical software solutions to over 40,000 customers. Since TA’s initial investment in 2021, Orisha has grown revenue by approximately four times and transformed its operating model, consolidating more than 25 independent business lines into five vertically focused business units: Retail, Health & Safety, Construction, Real Estate and Agri-Food. These business units are now supported by centralised functional teams for finance, marketing, HR and technology infrastructure. With over €250 million of revenue expected this year, Orisha’s strategic objective is to offer high-quality and agile software solutions to customers by maintaining customer proximity, accelerating technological innovation and increasing organisational integration.

TA, Orisha’s majority shareholder since 2021, will reinvest in the company alongside Francisco Partners and Orisha management. The investment will allow Orisha to further advance its growth journey, solidifying its industry leadership through ongoing organic growth, diversification, geographic expansion and strategic acquisitions.

Bryan, Garnier & Co acts as Sole Financial Advisor to Francisco Partners on its investment in Orisha.

Bryan, Garnier & Co assisted Francisco Partners with sector and valuation expertise as well as continuous process intelligence while leveraging its deep knowledge of the software market.

This marks another landmark transaction for Bryan, Garnier & Co’s software practice and is a further demonstration of its expertise in private equity-led transactions. Other notable transactions include the sale of Diapason to PSG Equity, the sale of Sinari to Bridgepoint Development Capital, the investment of Keensight in e-Attestation, the sale of Nomadia to Hg Capital and Carlyle’s investment in Groupe Lacour.

“We are thrilled to onboard Francisco Partners alongside TA as we aim to drive continued growth and further enhance Orisha’s offerings. Both TA and Francisco Partners share our vision for the Company, and we are excited to work together to ensure sustained strong performance in the future. With their support, Orisha is positioned for expansion and to provide our customers with the best solutions.”

— Jacques Ollivier, CEO of Orisha

Founded in 2003, Orisha is a European software publisher dedicated to companies in the retail, real estate, healthcare and construction sectors. Since its creation, Orisha has been helping companies to succeed by offering them solutions tailored to their business needs and essential to their activity (cash collection, commercial and financial management, stock management, CRM, HR, E-Commerce…). Each day, Orisha’s solutions facilitate millions of interactions and transactions in a hyper-connected world. Since 2021, Orisha has been backed by TA Associates, a global private equity player and leader in the technology sector. In 2023, Orisha achieved sales in excess of €200m. The group, which was born in France, employs 1,800 people in Europe and supports clients in over 50 countries.

Francisco Partners is a leading global investment firm that specialises in partnering with technology and technology-enabled businesses. Since its launch nearly 25 years ago, Francisco Partners has invested in more than 400 technology companies, making it one of the most active and longstanding investors in the technology industry. With approximately $45 billion in capital raised to date, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realise their full potential.