Drake Star acts as Exclusive Financial Advisor to Elsyca NV on Majority Recapitalization with Strada Partners

LEUVEN | ANTWERP | MUNICH | February 27, 2024 – Elsyca NV (“Elsyca”), a leading global provider of “Digital Twin” simulation software, announced today the majority recapitalization with Strada Partners, a leading European technology growth investor, alongside a reinvestment from the current management team and existing investor Think2Act. Drake Star acted as the exclusive financial advisor to Elsyca and its shareholders on this transaction.

Headquartered in Leuven, Belgium, Elsyca offers best-in-class electrochemical modeling simulation software, for a wide range of industrial applications such as corrosion protection, AC mitigation, and surface finishing. Elsyca's advanced solutions empower customers to safeguard high-value assets while maximizing operational efficiency. Elsyca serves over 180 customers worldwide, including market leaders such as Safran, Volkswagen, AT&S, Enbridge, Aramco, Calumet, Hansgrohe, and Rohde & Schwarz. 

The founders and top management re-invested a significant stake and will support to drive the continued international growth strategy, which aims to strengthen Elsyca’s unique positioning in its respective global market segments.

Jean-Marc Dewilde, CEO of Elsyca, reflected: “The whole Elsyca team is excited about the partnership with Strada Partners to fully execute on our growth potential. The Drake Star team provided hands-on support and guidance throughout a comprehensive process. They showed great commitment, and together with their extensive expertise in the industrial software market, played a crucial role in finding the right partner for Elsyca.”

Matthias Vandepitte, Managing Partner at Strada Partners, added: “Elsyca has already developed a strong product portfolio and has built up an impressive international customer base, both trajectories which we want to continue growing. In addition to autonomous growth, we will actively look for acquisition targets in Europe and beyond, to further strengthen Elsyca’s market position and to further develop their engineering and simulation software portfolio.”

Jo Breesch, Managing Director of Think2Act, stated: “Julian Ostertag and the entire Drake Star team have done a remarkable job supporting us in securing an investor perfectly aligned with our expansion goals. Collaborating with Drake Star was an absolute pleasure, and we're thrilled with the outcome.”

Julian Ostertag, Managing Partner and Co-Founder of Drake Star, commented: “It’s been a pleasure to work with Elsyca and its shareholders to enable the next phase of growth with such a strong partner as Strada Partners. We are excited that we could support Elsyca’s entrepreneurial team in executing a highly successful process as well as finding the perfect partner for Elsyca.”

Drake Star Team: Julian Ostertag, Sebastian Kimmerl, Anton Donauer, Mathieu Gratzmueller, Jonas Kerkow 

Inquiries

For further inquiries, please contact: 

Julian Ostertag 

julian.ostertag@drakestar.com, +49 89 14 90 26 520

About Elsyca

Elsyca is a growing international software company with offices in Leuven (Belgium), the United States of America and Romania. Through a unique combination of innovative software and highly technical knowledge, Elsyca can model various electrochemical processes with a broad industrial application, ranging from the automotive industry to energy and electronic applications. Their solution guarantees assets integrity, reduction in operational costs and increased product quality.

For more information: www.elsyca.com

About Strada Partners

Strada Partners is a European growth-oriented investment firm founded by Bart Wouters and Matthias Vandepitte, who have a combined 25+ years of experience in private equity. The team’s track record includes investments across industries, with a particular focus on software, tech-enabled service and healthcare businesses. Strada Partners built a concentrated portfolio of investments they can support over the longer term and provide with the necessary tools to accelerate growth on a pan-European level.

For more information: www.strada-partners.com

About Think2Act

Think2Act is a Belgium based investment firm focused on Belgian and Dutch SME companies. Led by a team of skilled and enthusiastic professionals, Think2Act invests in profitable SME companies that have a strong or leading position in their market and that have both the opportunity and the ambition to further expand the business.

For more information: www.think2act.be

About Drake Star 

Drake Star is an award-winning global tech investment bank that has completed over 500 transactions since 2003. Drake Star team of 100 senior professionals across offices in New York, London, Paris, Munich, San Francisco, Los Angeles, Berlin, and Dubai* focuses on mergers & acquisitions and corporate finance services worldwide in Software/SaaS, Consumer & Retail Technology, Digital Media, FinTech, Mobility & Sustainability, Digital Services, and Industrial Tech sectors. 

Drake Star Partners is the marketing name for the global investment bank Drake Star Partners Limited and its subsidiaries and affiliates. In the USA, all securities are transacted through Drake Star Securities LLC - regulated by FINRA and is a member SIPC. Drake Star UK Limited (FRN 942020) is an appointed representative of Razlin Ltd (FRN 730805), which is authorized and regulated by the FCA. © 2024 Drake Star Partners Limited. 

For more information, visit: www.drakestar.com

*Partner Office