News – Domestic and International mergers & acquisitions
16 March 2017
Cresco assisted Xpenditure and its shareholders, in the preparation, negotiation and closing of a strategic transaction between Xpenditure and Sodexo Group.
Sodexo is joining forces with two innovative scale-ups, Xpenditure and iAlbatros, to deliver a comprehensive, user-friendly business travel and expense management experience for both companies and business travelers alike.
The easy to use mobile platforms will improve the way companies monitor travel expenses and enhance business travelers' quality of life. Through Sodexo's international foot print, the end-to-end offering will be progressively available to clients from large corporation to SMEs.
Co-founder and CEO Boris Bogaert comments: “The Cresco team has been extremely committed and very creative in structuring and negotiating this next growth phase for Xpenditure with Sodexo. They are undoubtedly the market reference as trusted counsel of entrepreneurs.”
Adds Co-founder and Executive Chairman Wim Derkinderen: “Xpenditure and its shareholders were very happy to rely on Cresco’s deep expertise in strategic investment and M&A transactions, as well as their dedication and continuous availability. We would recommend and endorse them without any hesitation.”
About Xpenditure and Sodexo Group
Xpenditure is a leading business expense solution that automates and streamlines processes for high-growth companies and enterprise. Its mobile and web application transforms the outdated expense reporting process by empowering employees to snap and manage expenses anywhere in real-time.Xpenditure seamlessly integrates with major accounting and ERP packages including SAP, Oracle, Microsoft Dynamics, Netsuite, Xero, Quickbooks, Sage. Thousands of companies including Deloitte, Pernod Ricard and Henkel trust Xpenditure to save them significant time and costs. Headquartered in Belgium, Xpenditure has offices in Amsterdam, London, New York and Sao Paulo and customers across 62 countries
Sodexo is the worldwide leader in Quality of Life services with over €20 billion in revenues. For over 50 years, it has developed unique expertise, backed by nearly 425,000 employees in 80 countries across the globe. Sodexo integrates a complete offer of innovative services, based on over 100 professions.
More information on the transaction can be found in De Tijd.
David Dessers, Tessa Gijbels and Pauline Devos constituted the Cresco deal team for this transaction.