Saint-Doulchard, France, 11 January 2023 – Global investment firm Carlyle (NASDAQ: CG) announced today that it has entered into exclusive negotiations to acquire a majority stake in Groupe Lacour (“Lacour”), a leading French software provider for the automotive after-sales value chain. The terms of the transaction were not disclosed.

Founded in 1985 and headquartered in Saint-Doulchard, France, Lacour is a leading provider of software solutions with a comprehensive suite of products supporting vehicle repair and maintenance including document management systems, costing solutions, and parts databases. Lacour has over 300 employees and a diversified customer base of over 6,000 clients comprising independent automotive repair shops and repair shop networks, car dealerships, glazers, claim adjusters, insurers, and fleet managers. It has deep relationships with numerous major automobile brands, paint manufacturers and suppliers and distributors in the sector.

The Carlyle Europe Technology Partners (“CETP”) platform will aim to support Lacour’s growth as a leading one-stop-shop solution provider for the automotive after-sales value chain with the objective of building a category leader at the forefront of innovation. It will do so by partnering with management to further penetrate existing and new market segments, broadening its software suite and complementary product offering, building on Lacour’s R&D initiatives including AI modules and a new SaaS delivery model through products such as Iris and Mosaic, capturing new cross-selling and up-selling opportunities, enhancing commercial best practice across the group, and focusing on international expansion predominantly in Europe.

Angelo Maida, President and CEO at Groupe Lacour, said: “Our business has grown considerably since its founding in 1985 and today has a leading position in the automotive after-sales value chain in France – this is the result of our focus on innovation, and the commitment and hard work of the entire Lacour team. The automotive sector is undergoing changes that require us to constantly innovate for our ecosystem of customers and partners, supporting them in the digitalisation of their operations. In CETP, we believe we have found the perfect partner to help us capture the significant opportunity we see ahead as the sector continues to transform, and to help us grow internationally across the highly fragmented market in Europe. We look forward to working with Cyril Bourdarot and the CETP team on this exciting new chapter for our business.”

Cyril Bourdarot, Managing Director in the CETP investment advisory team, said: “We believe Lacour is an excellent, resilient business with a strong position in the automotive after-sales industry, which is rapidly changing due to the increasing complexity of both motor vehicle fleets and the value chain – through developments such as the continual evolution of car models, the increasing penetration of electric cars, the complexity of repairs, regulations, and supply chain management – as well as the ongoing digitalisation of the sector. Lacour has a range of outstanding software products and deep customer relationships, and we believe it is well-positioned to capture this growth opportunity in France and across Europe. With Carlyle’s experience in the automotive sector and in software and our track record of growing and internationalising high quality independent European businesses, we believe the opportunity to partner with Angelo Maida and the team in a primary deal of this nature is perfectly suited to CETP’s expertise.”

Carlyle has a longstanding track record of investments in the automobile and supporting software sectors including Autoform, Metrologic Group, Axalta, Allison Transmission, United Components Inc., and Tempo Participações.

The transaction is subject to customary regulatory and works council approvals.

It has been a busy few months for the CETP team, which has recently announced investments in ETC Group, Incubeta, Tescan, and Hack The Box.