Omnes backs MBI of French agriculture IT business Mistral

Omnes Capital has invested €11.8m in the management buy-in of Mistral Group, a French software company for providers of agricultural and construction equipment.

The firm has taken a majority stake. Fabric Le Camus, a director of Mistral, has also invested.

Swen Capital Partners, Parvilla and Capital Transmission are backing the business as co-investors. Jacques Riviere, a former chair of past Omnes investment Ocean, is also participating in the deal.

Omnes has made the investment through several of its small-cap funds: LCL Expansion 2 and 3, and LCL PME Expansion 2. The deal is the first investment from LCL Expansion 3, which reached a first close at €30m in April and is targeting €120m.

Based in Clemont-Ferrand, Mistral provides software and hosting and outsourcing services to its clients. Following the investment, it aims to develop new products, strengthen its presence in France and expand internationally.

Omnes recently made a number of promotions and hires.