Cover Group
Founded in 1991, Cover Group is a company specializing in 3D computing. It focuses exclusively on the development and distribution of the Cover 3D software suite, designed for exterior carpentry.
Based in Tournai, it employs about 20 people and is considered a leader in the exterior carpentry market in Belgium and France.
In 2022, Cover Group’s management had already enlisted Fondaris to assist them with a management buyout (MBO) to acquire all outstanding shares. Gradually, Christof Hullaert bought out his partners’ shares until he became the company’s sole shareholder.
To accelerate Cover Group’s growth by equipping it with all the necessary tools, he believed it would be beneficial to align the company with a larger player. With this in mind, Christof Hullaert decided in late 2023 to entrust Fondaris with the task of finding a strategic partner for him.
Founded by Otium Capital in Paris, Comet Software is a group of professional software publishers that grows by acquiring majority stakes in companies within the sector and by investing in the development of those companies.
With €14 million in consolidated revenue, Comet Software continues to expand while respecting the entrepreneurial DNA of the companies it acquires and providing them with operational and financial support to accelerate their long-term growth.
Christof on the transaction: “I was fortunate to have Fondaris’s support during Cover’s integration into the Comet Software group. Their responsiveness and professionalism were exemplary throughout the entire process. The advice I received was always relevant and tailored to my situation. I particularly appreciated the quality of their support, from the first meeting through to the closing of the transaction. Thanks to their expertise, I was able to sell my company with complete peace of mind, confident that I had made the right choices.”
Christof will remain at the helm of Cover Group with the goal of strengthening its leadership position with the support of Comet Software.
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Acquisition
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