Headquartered in Paris, Orisha, formerly known as DL Software, was established in 2003 to provide industry-specific ERP software to a variety of end markets.

21 Invest France acquired Orisha from its founders in 2017 through a primary and PtoP transaction. After managing the leadership transition between the two founders and appointing Jacques Ollivier as CEO, 21 Invest France supported the group in executing an ambitious development project that combined robust organic growth with a buy-and-build strategy.

In 2021, after establishing Orisha as a leader in the vertical software industry and more than doubling its Ebitda, 21 Invest France sold its majority stake to TA Associates and reinvested as a minority shareholder.

Over the 2017-2024 period, Orisha has grown its revenue from €50m to €250m. The company has become a European leader with a presence in France, in the Netherlands and in Spain with five vertically focused business units: Retail, Health & Safety, Construction, Real Estate and Agri-Food. The Group now employs over 1,800 people, offers highly specialized vertical software solutions to over 40,000 customers.

Following this remarkable growth, an agreement was reached on July 13th to sell Orisha to Francisco Partners, with TA Associates maintaining a co-control position.

Stéphane Perriquet, Managing Partner & Baptiste Gaud, Investment Manager at 21 Invest France say: “We are proud to have laid the foundation for the group to become the leader it is today. We are pleased to have reinvested alongside TA Associates as minority shareholders, continuing to support Orisha’s continuous growth. This trajectory aligns with our mission at 21 Invest France to structure and transform small companies so they can become category champions. Under Jacques’ leadership and supported by its new partners, Orisha is well on its way to becoming a global reference.”

François Barbier, Managing Partner at 21 Invest France adds: “Following the recent sales of ProductLife Group and Landanger in May, we are happy to announce another successful exit for Fund V, and further demonstrating our ability to trigger liquidity events for our investors.”