to accelerate the Company’s growth and solidify its strong market position in the European EHS and ESG market
PARIS, FRANCE – [March 9], 2023 – Tennaxia®, a leading cloud-based software provider of corporate social responsibility and sustainability data management solutions, today announced that Marlin Equity Partners (“Marlin”), a global investment firm with over $8.5 billion of capital under management, have made a majority growth investment in Tennaxia®. Bpifrance also becomes a significant shareholder in Tennaxia® alongside Bernard Fort and Maxime Delorme (the founders) as well as Bernard Bourigeaud, who are reinvesting in the transaction. Omnes Capital will remain a significant minority shareholder. The investment is set to scale Tennaxia’s product capabilities and accelerate growth within the European market. Tennaxia’s CEO, Bernard Fort, will continue to lead the company.
Founded in 2001, Tennaxia® enables mid-market and enterprise businesses as well as financial institutions manage, improve and steer EHS (Environment, Health, Safety) and ESG (Environmental, Social, Governance) performance and reduce associated operational risks and costs. Tennaxia® also supports corporate clients to meet regulatory obligations. Large and medium companies are increasingly incentivized to adopt an EHS culture and ensure their compliance with standards such as ISO 45001 (Health and Safety). Most corporations are also expected to shift towards ESG software equipment, in order to comply with mandatory reporting requirements applied by the EU through the Corporate Sustainability Reporting Directive (CSRD), coming into effect in 2023.
Beyond compliance, adopting an ESG strategy generates clear benefits to companies and investors, allowing them to provide transparency to their clients and investors, monitor their supply chain performance and reliability, and attract more talent. Global corporates are more and more aware that such a strategy requires a reliable and flexible tool to turn regulatory constraints into business opportunities.
“Over the last two decades, we have fueled our growth by focusing on delivering value to our clients through helping them navigate complex and evolving regulatory environments. We are excited to partner with Marlin and Bpifrance to further accelerate our expansion into France and internationally,” stated Bernard Fort, Founder and Chief Executive Officer of Tennaxia®. “With Marlin’s operational expertise and support, we look forward to deepening our capabilities to fulfill our customers’ needs and allowing businesses to manage their EHS and ESG requirements with ease,” added Maxime Delorme, Co-Founder and Chief Technology Officer of Tennaxia®.
The transaction will help expand Tennaxia’s product suite further into ESG related use cases, advance its core platform and develop broader go-to-market capabilities. The investment will also support Tennaxia’s continued expansion in Europe, organically and through M&A, to further empower clients to evaluate, manage and monitor industry- and region-specific social responsibility and sustainability information that is crucial to businesses’ performance as well as value creation.
“Tennaxia’s compelling value proposition and excellent leadership has facilitated continued success and positioned the Company as a strong, differentiated market leader in the European EHS and ESG space, underpinned by robust customer momentum,” said Jeremy Nakache, a principal at Marlin. “We are thrilled to partner with the founders and management team to expand the business and drive product innovation through further investments into the platform.”
“We are excited to support the Tennaxia® team alongside Marlin in this new phase of growth. Tennaxia’s solutions have great prospects and we are convinced that they can bring a lot of value to many companies, especially those in our portfolio” added Jérôme de Bucy, Investment Director at Bpifrance.
“We are very proud to have accompanied the strong organic development of Tennaxia® over the past two years alongside an ambitious and very valuable management team – and keen to pursue with the support of Marlin, one of the most active B2B software investor globally” said Frederic Mimoun, Partner of Omnes Small Cap.
About Marlin Equity Partners
Marlin Equity Partners is a global investment firm with over $8.5 billion of capital under management. The firm is focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs. Marlin invests in businesses across multiple industries where its capital base, industry relationships and extensive network of operational resources significantly strengthen a company’s outlook and enhance value. Since its inception, Marlin, through its group of funds and related companies, has successfully completed over 200 acquisitions. The firm is headquartered in Los Angeles, California with an additional office in London. For more information, please visit www.marlinequity.com.
Bpifrance Investissement is the management company that handles Bpifrance’s equity investments. Bpifrance is the French national investment bank: it finances businesses – at every stage of their development – through loans, guarantees, equity investments and export insurances. Bpifrance also provides extra financial services (training, consultancy) to help entrepreneurs meet their challenges (innovation, export…). For more information, please visit:
https://www.bpifrance.com/ Follow us on Twitter: @Bpifrance – @BpifrancePress
Omnes is a major player in private equity and infrastructure. With more than €5 billion in assets under management, Omnes provides companies with the equity capital they need to grow through its four core businesses: Venture Capital, Expansion Capital & LBO, Infrastructure and Coinvestment. Omnes is 100% owned by its employees. Omnes is committed to ESG issues. The company has created the Omnes Foundation in favor of children and youth. It is a signatory of the United Nations Principles for responsible Investment (PRI).
Marlin Equity Partners: Jeremy Nakache, David Feiner, Paul Gaillard
Bpifrance Investissement: Thierry Sommelet, Jérôme de Bucy, Jessica Cohen, Joséphine
Omnes Capital: Frédéric Mimoun, Inès Talhouarne
Bernard Fort, Maxime Delorme
Investor financial advice: Wil Consulting (Jacques Ittah)
Management Financial advice: Callisto (Charles de Rozieres, Guillaume Bodart)
Investor legal advice: Freshfields (Julien Rebibo, Kamile Bougdira, Amélie Saurel), Hogan
Lovells (Stéphane Huten, Alexandre Giacobbi)
Management legal advice: CMS (Thomas Hains, François Bosse Cohic, Antoine Melchior and
Strategic Due diligence: Roland Berger (Yaroslav Stetsenko)
Technological Due diligence: Crosslake (Neal Fiske, Davy Beaufort)
Financial, legal and tax due diligence: Deloitte (Frederique Chenevoy)
Unitranche debt: Eurazeo (Nicolas Nedelec, Olivier Sesbouë)