IK Partners announced that the IK Small Cap IV Fund has signed an agreement to invest in Endrix, a French accountancy and advisory firm. The investment will be made alongside the company’s existing partners. This marks the third transaction from IK Small Cap IV, which closed with €2 billion in commitments in July. The transaction is subject to regulatory approvals, and financial terms were not disclosed.
Endrix, founded in 1978 in Lyon and formerly known as Groupe SFC, provides accounting, audit, and advisory services to approximately 12,000 small and medium-sized enterprises and mid-market companies. The Group operates across 35 offices throughout France and has developed a wide range of services that combine financial and non-financial advisory capabilities.
The firm has been accelerating its growth to enhance its regional reach, core services, and specialized offerings through a series of strategic acquisitions. After integrating Zalis in 2023 and Mageia Partners in 2024, Endrix further strengthened its market position with the acquisition of Exelmans in May 2025. These moves have broadened the Group’s capabilities in audit, restructuring, and transaction services. The company has also taken proactive steps to anticipate industry-wide changes, including the adoption of artificial intelligence and the implementation of e-invoicing. Its co-creation of Impulse Data in 2023 enabled the development of a data lake covering more than 800,000 companies, along with the launch of its own approved e-invoicing platform.
Endrix became the first company in its sector to form a partnership with a financial investor when Bpifrance invested in 2021. The new collaboration with IK is intended to support the Group’s continued digital transformation, organizational development, and external growth strategy. This includes expanding both within France and internationally to reinforce its position as a leading provider of accounting and advisory services.
IK intends to leverage its European Financial and Professional Services experience, which includes investments in firms such as Aspia in Sweden, Dains Accountants in the UK, and Qconcepts in the Netherlands. Endrix plans to expand cross-border through targeted acquisitions in Switzerland, Italy and Spain to serve clients with increasingly international needs.
KEY QUOTES:
“We are particularly proud to welcome our new financial partner IK as a shareholder of Endrix. Their support represents a tremendous opportunity to accelerate our digital transformation journey and achieve the ambitious goals we have set for the Group in terms of development and quality of client support. This transaction once again demonstrates our pioneering spirit and our firm commitment to helping our clients and our team go beyond their own ambitions.”
David Humbert, CEO of Endrix
“We have been impressed by Endrix’s remarkable growth trajectory over the past few years. We are convinced that the Group has a key role to play in the consolidation of the Accountancy sector, both in France and internationally, having already made several key acquisitions. Endrix perfectly illustrates the type of story we like to support, an entrepreneurial project led by an experienced team and with an ambitious external growth strategy.”
Arnaud Bosc, Partner at IK and Advisor to the IK SC IV Fund
