Enso group

Now renamed Enso, the Synapse group, which was acquired in 2001 and run by a team of four senior executives, is the French leader in software and ERP publishing for temporary staffing and personal & household services companies. Reaching €10 million revenue following a high and sustained growth trajectory, the group is now embarking in a new phase in its development. To this aim, Enso welcome a financial partner, a first in its history, which purchased a 20% stake.

The Enso group, which is operating three subsidiaries, offers an ERP range backed by web-based management solutions. Since 1994, PLDiffusion has developed and sold payroll and accounting software for temporary staffing businesses as well as a vertical ERP. In 2008, the Group launched Domino, an ERP dedicated to personal & household services businesses, followed in 2013 by Armado, an electronic document and process portal (electronic signature, etc.). In this area, the Group can harness growth opportunities through cross-selling. It now intends to make this a priority while developing fresh new vertical solutions.

In addition, the founding managers, who all own an equal stake and are between 51 and 56 years old, are setting up seamless succession arrangements. The Group needs to ensure skills and knowledge to be passed on by the four top managers to a middle management, strengthen its leadership in temporary staffing by making its product solutions more flexible and innovative (SaaS and Cloud offering) and continue winning new customers in the personal & household services market.

"It’s a bet on the future", explains Christophe Meyer, Chairman of the Enso group. "We have chosen a trusted partner who understands our business and is focusing on strategic aspects without impinging upon the operational side. As well as a boost to our finances thanks to Crédit Mutuel Equity’s investment, the business is gaining additional resources that it can draw on to begin industrialising its offering. We are targeting revenue of €18 million within 5 years."

"We are delighted to be drawing up a roadmap together with a company that has an undisputed leadership and a proven business model, delivering double-digit growth since 2014. We rapidly established a high-quality relationship with the management team, which has prepared an ambitious organic growth plan. What’s more, our portfolio of temporary staffing and digital services shareholdings may provide them with additional opportunities", added Romain Peiffer, Principal at Crédit Mutuel Equity.

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