Bpifrance and EdRIP through WINCH Capital 3 fund are proud to announce that they are taking a majority stake in Platinium Group (“PG”).
PG is a software company providing ‘Software as a Service (SaaS) ticketing solutions to organisers of major sporting events across the world. The group offers its clients innovative and flexible ticketing technology as well as value-added services in order to maximise ticket revenue across all sales channels. PG has enjoyed strong growth in recent years and has firmly established a position as one of the leading players in its market segment. The group notably supplies software solutions to organisers of the highest tier of motorsport (Formula 1, MotoGP and MXGP) as well as multiple ATP and WTA tennis tournaments worldwide. In parallel, PG has developed a ticket distribution and e-commerce business for sporting events, notably via its website, Gootickets.com. The group provides its services to a truly international client base spread across more than 35 countries whilst generating revenue of nearly €100m per year thanks to its dedicated team of 50+ employees.
Having invested heavily in recent years in the development of its technology built on long-term contracts with blue-chip sporting clients such as Formula One Management, the Grands Prix of Abu Dhabi and Monza, the Shanghai Rolex Masters, plus the Madrid Open to name but a few, PG is now well positioned to accelerate its international development.
With the support of their new shareholders and banking partners (CEPAC and LCL), Steve Sasportas (founder and CEO) and Bruno Rodrigues (COO) are skillfully driving the business to consolidate PG’s position within the motorsports industry whilst simultaneously promoting its solutions to organisers of other sports, entertainment and cultural related events. The company is therefore actively looking to strengthen its pipeline in order to continue its international development and to extend its range of products and services. To that end, PG is set to rapidly expand its IT and business development teams whilst opening a new office in Asia to support business generation with its Asian and Australian customers; the company is also considering build-up opportunities to accelerate its development.
To lead this ambitious development plan and following a competitive process organised by Transaction R, Bpifrance, and EdRIP through WINCH Capital 3 fund were selected to buy out private investors which had historically supported and financed the group’s development. The two funds are now majority shareholders alongside the current management team who has kept a significant stake in the company.
“We are delighted that two major and highly experienced investors are investing in our group, to support our strong growth in the sporting world and expansion into new segments (notably entertainment) via organic and external international growth. We would also like to thank our historic shareholders, for whom the journey now ends with record group performance in 2016”, said Steve Sasportas and Bruno Rodrigues.
“The management convinced us of the pertinence of PG’s positioning in the extensive and rapidly expanding market of online ticketing for sports events. With a strong international presence, prestigious clients and a proven and innovative solution, the group has what it takes to gain new events and to make acquisitions, which will enable it to diversify its range and penetrate new markets”, commented Romain Gauvrit and Caroline Lebel, Investment Director and Investment Manager at Bpifrance.
“We are delighted to have been selected by the management to take part in the structuring of the group and to support their development strategy combining strong organic growth, international development and acquisitions”, explained Pierre-Yves Poirier and Thomas Duteil, Partner and Investment Director at EdRIP.