Investments 06/04/2022

Sagard NewGen enters into exclusive negotiations with Capza to acquire Horizon Software alongside its management

Paris, 6 April 2022 – Sagard NewGen announces exclusive negotiations to acquire the majority stake of Capza in Horizon Software

For 24 years, Horizon Software has brought automation to Investment Banks, Brokers, Exchanges and Trading Platforms for their electronic trading needs spanning more than 150 liquidity venues globally.

The Horizon trading platform brings together equity and derivatives departments and provides principal and agency traders with a unique cross-asset solution. By combining native trading functionalities with sophisticated algorithmic capabilities, Horizon Software’s clients create, test and implement automated strategies within incredibly short timescales and with absolute security.

With its managed services approach, Horizon Software offers a SaaS experience to its clients, winning 10 industry awards in the past 5 years.

Currently serving 70 clients in 26 countries, the Horizon trading platform is today the only one that can target the full needs of a trading floor including market making, agency trading and algorithmic trading.

Horizon Software is headquartered in Paris and has offices in Asia, the Middle-East and North America. The company has more than 100 employees and had an ARR growth of 20% in 2021.

We are very excited about working with the Sagard NewGen team to support the ambitious strategy of the company. Moving forward, our aim is to reinforce the relationships with historical clients and develop new digital asset classes.

Sylvain Thieullent

CEO Horizon Software

We are delighted to have been chosen by Sylvain Thieullent to support Horizon Software and its remarkable management team in this new development phase. Under the leadership of its CEO, the company has successfully launched its Managed & Hosted service offering and has leveraged its expertise in algorithmic trading to conquer new international markets and develop its Agency Trading business. We are convinced of Horizon Software’s strong potential. The team will be able to draw on the resources of the Sagard network to accelerate the company’s growth.

Bérangère Barbe and Agnès Huyghues Despointes

Partners Sagard NewGen

We are glad to have supported Sylvain Thieullent and his management team in the growth acceleration of the group. Horizon Software is today a leading platform in its market

Benoît Choppin

Managing Partner Capza

Participants to the transaction:

Sagard NewGen: Agnès Huyghues Despointes, Bérangère Barbe, Jan Kinsky et Louis Gosselin

Horizon Software : Sylvain Thieullent, Charles Bertrand

Capza : Benoît Choppin, Olivier Guine, Axel Augustin

Horizon Software Advisors:

Sell-side M&A: Bryan Garnier (Thibaut de Smedt, Stanislas de Gmeline, Marc-Antoine Janny, Henri Guilbert, Arthur Escoffier)
Financial VDD: Alvarez & Marsal (Frédéric Steiner, Samih Hajar, Jean-Baptiste Peltier)
Strategic VDD: GreySpark (Frédéric Ponzo, George Kao, Wani Yosepa)
Lawyers : Agilys Avocats (Karine Violeau, Carolle Thain-Navarro, Sophie Auvergne)

Management Advisors:

Lawyers: Jeausserand Audouard (Jérémie Jeausserand, Carole Degonse, Carole Furst)
Financial advisor: François Barou

Sagard NewGen Advisors:

Buy-side M&A: ETXE Finance (Romain Petit, Henri Hitier)
Financial BDD: D’Ornano + Co (Raphaëlle D’Ornano, Vadym Diablo, Marie-Astrid Bainier)
Legal, Tax and Social BDD: Archers, Solveig Avocats
Lawyers: Archers (Marc Baffreau, Emily Pabot du Chatelard)

Unitranche:

Eurazeo: François Lacoste, Olivier Sesboüé, Hugo Torresano

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