Xavier Cotelle, founder and CEO of bee2link – a publisher of SaaS software and digital solutions for automobile players – has announced that Bridgepoint Development Capital (BDC), the smid-cap division of the international private equity group, Bridgepoint, has taken a minority shareholding. The terms of the transaction are confidential.
Supported by BDC, Xavier Cotelle and his team will continue to develop bee2link, focusing particularly on the company's European expansion. Xavier Cotelle and the management team reinvested significantly in the transaction and will continue to manage bee2link.
bee2link is a high growth company supporting the digital transformation of the automotive retail sector. A pioneer in SaaS digital platforms and applications publishing, bee2link has enjoyed a favorable environment since its creation in 2012 and draws on the experience of its managers in automotive retail, dealerships, management/finance and ICT. Its transversal solutions - Applications open to third-party systems (APIs) - seek to digitize business processes and the customer journey and target a client base of manufacturers (OEM), groups and automobile dealerships.
Thanks to the excellent results of its solutions, bee2link has equipped the leading manufacturers in France since 2013 and is also present in Belgium and Switzerland since 2018.
bee2link is growing steadily and has ambitions to become a leading European player within five years by: (i) capitalizing on its success with leading automobile manufacturers and deploying its solutions in new European subsidiaries, (ii) expanding through both internal and external growth and entering new automobile market segments, and (iii) bolstering its position as a key market supplier through its strong technical expertise, recently strengthened by the use of artificial intelligence.
Xavier Cotelle, founder and CEO of bee2link said: "We entrusted SODICA Corporate Finance, the mergers and acquisitions arm of the Crédit Agricole Group, with finding a leading international partner to accelerate our European expansion project. Bridgepoint, through its investment portfolio of market leaders, stood out for its sector expertise and the operating quality of its team. Our shared values, essential to both our companies, convinced us they were the right choice for this project. This partnership will be a winning force, allowing us to roll-out our success in France and across Europe."
Olivier Nemsguern, Managing Partner of BDC in France added: "In a rapidly changing automobile market, bee2link is a pioneer in the digitalization of automotive retail businesses. Its solutions cover the entire value chain and are extremely popular with leading global manufacturers. We're delighted to partner with bee2link's management team, at the cutting-edge of digital innovation in the automobile industry. With our international network and additional financial resources, our aim to assist the company in accelerating its European expansion".
About Bridgepoint Development Capital (BDC)
Bridgepoint Development Capital (BDC) focuses on transactions ranging between €30 million and €200 million.
Backed by a team of 27 professionals in Europe (including nine in Paris), Bridgepoint Development Capital (BDC) is one of the very few investors in the "Smid-cap" segment able to support the international development of mid-cap companies, thanks to support from nine Bridgepoint investment offices as well as operational support teams based in New York, San Francisco and Shanghai.
Advisers in this transaction included:
For the company and shareholders: SODICA Corporate Finance
For BDC: Alantra; Mayer Brown; Deloitte; Eleven Strategy; Mckinsey; PwC.
Unitranche financing was provided by Idinvest.
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