Kartesia supports Stelogy (formerly Nomotech) in its acquisition of Ordago
Kartesia, the European specialist in debt and intermediate capital solutions for small and mid-sized companies is pleased to announce that it provided unitranche financing to support its portfolio company Stelogy in its acquisition of Ordago, after having already supported the buyout of VOIP Telecom earlier in September 2023.
On the 23rd of November, 2023, Stelogy acquired Ordago, an independent B2B telecom operator focused on home support personal care services. Ordago offers telecommunications and managed services to a diversified B2B client base of c. 1,100+ customers and 67,000 subscribers.
This acquisition is an attractive opportunity for Stelogy to acquire a dynamic and complementary telecom operator with a mature and scalable business structure. This acquisition will also be value and business accretive by enabling Stelogy to (i) further penetrate the dynamic and resilient home support personal care services market in France; (ii) expand its geographical coverage notably in South-Western France; and (iii) generate strong commercial synergies between the two companies thanks to complementary product expertises, clients, geographical coverage and end-markets. As part of the transaction, the two founders of Ordago, Muriel and Jérôme Coulanges, will join the management team of Stelogy and head the VSE & SME commercial division.
Kartesia has put in place a unitranche financing solution to support this transaction through its investment strategy “Kartesia Credit Opportunities” (KCO V and KCO VI). The team includes Damien Scaillierez, Charles-Henri Clappier, Alexis Midol, and Marie Mayau.
Charles-Henri Clappier, Head of KSO France and Business Development at Kartesia: “We are delighted to support Stelogy in this new acquisition. We were impressed by the quality of the management team of Ordago. We are confident in the Group’s ability to successfully integrate Ordago and generate new business opportunities to thrive in the well-oriented B2B telecom market. We will actively continue supporting Stelogy in its buy-and-build strategy.”