21 Centrale Partners exits Coyote

February 9, 2015

21 Centrale Partners has completed the exit of its investment in Coyote in the context of a management buy-out organized by the company’s founders.

21 invested in Coyote in 2010 and created a comprehensive driving aid services provider, offering a full range of premium real-time information. Today, Coyote is the undisputed leader in France and Belgium with a strong presence in Germany, Italy, Spain and Poland. The company is expected to generate revenues in excess of €M 100 in 2014.

Over the course of 21’s investment tenure, Coyote underwent significant growth, enriching its product and service range with innovative features and devices, as well as increasing its user base tenfold to close to 4 million members, active on all platforms: dedicated devices, smartphones, and embedded in new “connected car” original equipment manufacturer head units.

21 also supported Coyote in improving operating efficiency by completing a managerialization and institutionalization process, with new top executive recruitments and reinforcement of key departments such as Sales & Marketing. Coyote also redefined its distribution channel strategy, creating its own network with 15 stores and also developing internet sales. With the support of 21, Coyote significantly increased its sales and Ebitda.

Gérard Pluvinet, Founding Managing Partner of 21 Partners commented: “Coyote is a prime example of 21’s approach to developing promising companies through organic growth. With our support, Coyote became a European leader on a fast growing attractive segment. The company is now ideally positioned, with a recurring and highly profitable paid subscription model and strong cash generation, to successfully drive further expansion in Europe.”

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The Skill & You Group, majority-owned by 21 Centrale Partners, Access Capital Partners, Jolt Capital, Alma Learning Group and Capital Transmission, is sold to Andera Partners, on behalf of Winch Capital 4, as part of an MBO organized around the Management team led by Eric Petco and Sonia Levy-Odier. The Fund joins forces with the […]
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