TA Associates, a global growth private equity firm, entered exclusive negotiations to make a majority growth investment in DL Software, a France-based group of enterprise resource planning (ERP) software providers.

Current DL Software majority shareholder 21 Invest France, as well as company founders and management, would each retain a stake in the business following TA’s investment. The envisaged transaction, which is currently under review by representatives of the company’s employees, is expected to close in the second quarter of 2021, subject to customary approvals.

Financial terms were not disclosed.

Founded in 2003 and led by Jacques Ollivier, President, DL Software is is a specialist in business ERP comprised of 13 industry-specific ERP software vendors serving a variety of end markets in France across the healthcare, insurance, retail, wholesale, real estate and tourism industries. In 2020, the group achieved total revenue of €74 million, up from €48 million in 2016. DL Software provides a number of centralized/corporate resources, including financial, marketing and HR support, and promotes the implementation and sharing of best practices in product development, lead generation, sales execution and customer service. The group employs a total of 550 employees and serves more than 20,000 SME, mid- and large-cap companies.

Maxime Cancre, a Principal at TA Associates, would join the DL Software Board of Directors along with Patrick Sader, a Managing Director at TA Associates.