Software & Fintech, M&A

Bryan, Garnier & Co acts as Sole Financial Advisor to Cathay Capital and the Management of FuturMaster on an LBO led by Sagard NewGen

Founded 30 years ago, FuturMaster is a provider of Supply Chain Planning and Revenue Growth Management software solutions.

FuturMaster offers a comprehensive suite of SaaS-based solutions for the end-to-end supply chain planning and revenue optimisation of large enterprises and mid-sized companies worldwide. FuturMaster solutions transform the complexity of business operations into levers of performance and resilience, offering competitive advantage in a volatile and uncertain environment. Thanks to cutting-edge technologies such as artificial intelligence, digital twin modelling and operational research, FuturMaster enables its customers to better plan for demand, and adapt their operational response by optimising production, distribution and supply plans.

FuturMaster’s platform is used daily by many leading companies in all sectors, including Heineken, L’Oréal, TotalEnergies and SNCF, in over 90 countries. The group is profitable, with growth of circa 30% per year, and generates over €30 million in revenue, over a third of which is generated outside France. It employs nearly 200 people in France, the UK, Singapore and China.

Sagard NewGen becomes the Group’s majority shareholder alongside the management team and Cathay Capital, who reinvest in the new transaction. The group’s Chief Executive Officer, Yacine Zeroual, is succeeding Bo Zhou, the founding Chairman and majority shareholder, who is stepping down as part of the transaction.

Bryan, Garnier & Co acts as Sole Financial Advisor to Cathay Capital and the Management of FuturMaster.

Bryan, Garnier & Co organised, prepared and led a competitive process involving Tier-1 Private Equity investors able to support the company’s growth and development strategy.

This latest transaction demonstrates Bryan, Garnier & Co’s unmatched expertise and track record in the European mid-market software space. Other notable transactions include the sale of EDL to Dentressangle Capital, the investment of Francisco Partners in Orisha, 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 delighted to begin this new chapter with Sagard NewGen, sharing our ambition to become a global leader in Supply Chain Planning and Revenue Growth Management solutions. With the support of Sagard NewGen and Cathay Capital, and backed by a talented and committed team, we will accelerate our international expansion while continuing to offer our customers innovative solutions to transform their complexity into sustainable competitive advantage in a constantly changing world."

— Yacine Zeroual, CEO of FuturMaster

FuturMaster has been a pioneer in Supply Chain Planning for over 30 years as a SaaS software provider that has been helping companies optimise their operations, from end-to-end supply chain planning to revenue optimisation. Innovation is at the core of its strategy, leveraging advanced technologies such as artificial intelligence, digital twin modeling, and operational research.

In 2024, FuturMaster introduced Forecast At Scale, a solution designed to enhance the accuracy of large-scale forecasting, and Network Insight Graph, an analysis tool that strengthens supply chain resilience and performance. Trusted by over 650 clients across 90 countries, FuturMaster empowers businesses to turn operational complexity into a competitive advantage in a volatile and uncertain world.

Sagard NewGen supports the development of leaders in the Technology and Healthcare sectors. We finance expansion strategies of European and profitable companies with sales of up to €200m that share a DNA of innovation and sustainability, through majority or minority equity investments. 

Sagard NewGen is part of Sagard’s international platform, which has assets under management of over $25bn across 6 strategies covering the full range of financing needs of growth companies. Leveraging flexible capital, an entrepreneurial culture and a global network, Sagard provides management teams with tailor-made support, a high value-added ecosystem and international reach, with 7 offices in Europe, North America and Abu Dhabi. 

Cathay Capital is a private equity and venture capital firm that supports companies in Europe, North America, and Asia. Cathay Capital helps companies at all stages of development, from start-ups to mid-sized companies, to unlock growth opportunities, drive international expansion, and enable sustainable transformation. With its international reach and deep local expertise, its platform connects people – investors, entrepreneurs, management teams, and leading corporations – to share knowledge and resources, fostering the evolution and transformation of businesses.

Founded in 2006 with a strong entrepreneurial heritage, Cathay Capital now manages more than 6 billion euros in assets and has completed more than 280 investments in sectors such as healthcare, technology, and consumer goods from its offices in Paris, New York, San Francisco, Munich, Berlin, Madrid, Shanghai, Beijing, and Singapore.