Sagard NewGen invests in kShuttle, a leading provider of financial and ESG regulatory reporting software, to accelerate its growth in Europe
Paris, October 8, 2024 – Sagard NewGen announces the acquisition of a majority stake in kShuttle, a leading provider of Software-as-a-Service (SaaS) financial and ESG regulatory reporting software, alongside the management team. This investment will support the company’s ambition to become a European leader.
Founded in 2016, kShuttle provides a SaaS software suite dedicated to regulatory reporting, offering several modules (IFRS16, CSRD, carbon footprint calculation and management, EU Taxonomy, etc.). These solutions enable CFOs and CSOs of large companies and SMEs to comply with current and future financial and sustainability standards.
The application of European directives on sustainability reporting is redefining the processes and management of ESG data for 55,000 companies in Europe. kShuttle, a pioneer in the development of CSRD (Corporate Sustainability Reporting Directive) reporting software, is ideally positioned to benefit from a fast-growing market, driven by an equipment phase. The company has created a performance management platform enabling companies to meet regulatory requirements and take their transformation one step further. Thanks to the implementation of a new integrated information system (‘I.S.’) known as the ‘sustainability ‘I.S.’, the platform facilitates interoperability with customers’ systems and streamlines their data (qualitative, quantitative, narrative, etc.) management processes. It offers improved traceability of extra-financial data, optimized processes directly linked to the Finance department, and a global approach to manage company performance.
kShuttle employs 150 people, more than a third in R&D, and has offices in France, Luxembourg, Austria, Morocco and Tunisia. The company serves more than 160 customers in France and abroad, and benefits from a solid network of partners. It is renowned for the technical level of its R&D team, flawless project execution and high customer satisfaction. In 2024, kShuttle will generate sales of over €14 million, growing at 30% per year.
Sagard NewGen will use its international network and experience in supporting fast-growing and profitable B-to-B software companies to support kShuttle’s European development.
Ména Dogan, co-founder and CEO of kShuttle, said: “We are delighted to welcome Sagard NewGen as a partner as we write the next chapter of our development together. Sagard’s international reach, SaaS expertise and strong network will enable us to consolidate our leading position in France, while accelerating our growth on a European scale.”
Bérangère Barbe and Guillaume Lefebvre, partners at Sagard NewGen, added: “We are very excited to be joining forces with Ména Dogan and the kShuttle management team to accelerate the company’s expansion in France and Europe. We have been impressed by kShuttle’s rapid development and the richness and robustness of its technology. With the convergence of financial and extra-financial (ESG) reporting requirements, we are convinced that the kShuttle platform offers a unique value proposition for companies having to comply with these different standards”
About Sagard NewGen
Sagard NewGen aims to support the development of leaders in the Technology and Healthcare sectors. We finance expansion strategies of European, 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.
For more information: https://www.sagard.com/newgen/
Press contacts
kShuttle: Alexandre DAVID, alexandre.david@kshuttle.io, +33 6 72 82 93 82
Sagard NewGen: Aliénor MIENS – Margie, alienor.miens@margie.fr, +33 6 64 32 81 75
Parties to the transaction
kShuttle: Ména Dogan
Odyssée: Mathieu Boillet
Sagard NewGen: Bérangère Barbe, Guillaume Lefebvre, Victoire Consten, Martin Klotz, Michel Bsarini
Sellers’ advisors
M&A: Rothschild & Co (Guillaume Cauchoix, Clément Darcourt, Augustin Viellard)
Lawyers: PGA (François Giné, Myriam Zendjebil)
Financial VDD: KPMG (Philippe Blanadet, Bertrand Thouvenel, Ramesh-Hare Settama)
Buyers’ advisors
M&A: Lincoln International (Mathieu Rosset, Antoine Leclere)
Lawyers: Paul Hastings (Olivier Deren, Charlotte Dupont, Damien Fenard)
Strategic BDD: Strategy& (Xavier Monin, Anne-Flore Da Vinha, Léo Lengelé)
Financial BDD: Alvarez & Marsal (Benoît Bestion, Jean-Baptiste Dujardin, Gregory Pereira)
Technology BDD: Akvize (Mickael Maindron, Adrien Della Gaspera)
