• Bridgepoint and General Atlantic's public tender offer for Esker was successful, resulting in Boréal Bidco holding 92.93% of the share capital and 92.68% of voting rights.
• Settlement for the reopened offer will occur on February 14, 2025, with a squeeze-out procedure planned for remaining Esker shares at €262 each.
• Esker executives expressed optimism about the partnership, emphasizing growth potential and innovation in a rapidly expanding market following the delisting.
On February 4, 2025, it was announced that the public tender offer initiated by Bridgepoint, in collaboration with General Atlantic and management shareholders, for Esker shares was successful. Boréal Bidco, the offeror, will hold 92.93% of Esker’s share capital and at least 92.68% of its voting rights following the reopened offer, which ran from January 17 to January 30, 2025.
A total of 947,693 shares, representing 15.57% of Esker’s capital, were tendered during this period. This successful outcome exceeds the necessary thresholds for a squeeze-out procedure, which will lead to the delisting of Esker shares from the Euronext Growth Paris market. The squeeze-out will compensate shareholders at the offer price of €262 per share, net of fees, with settlement scheduled for February 14, 2025.
Jean-Michel Bérard, President and Founder of Esker, expressed enthusiasm about the offer's success, viewing it as a significant milestone for the company. He emphasized that this partnership with Bridgepoint and General Atlantic will enhance Esker’s ability to innovate and strengthen its market position. Emmanuel Olivier, COO of Esker, echoed this sentiment, highlighting the exciting new chapter ahead for the company.
David Nicault, Partner and Head of Technology at Bridgepoint, noted the high tender rate as a testament to the offer's attractiveness and the relevance of their project. He expressed eagerness to leverage Bridgepoint’s resources to support Esker’s development in a growing market. Vincent-Gaël Baudet, Partner and Head of Bridgepoint Europe in France, remarked that the offer's success reflects their ability to gain stakeholder trust and create new opportunities for Esker.
Gabriel Caillaux, Co-President and Head of General Atlantic’s EMEA business, highlighted Esker’s unique software solutions and its potential for further growth. He looks forward to collaborating with the team as they embark on this new phase.
For more information regarding the offer, documentation is available on the websites of Esker, Bridgepoint, and the AMF.
