Capital Evergreen - Founded by an entrepreneur
Anchor your capital.
Accelerate your ambition.
Entrepreneurs working alongside entrepreneurs.
Founded by William Boiché, the entrepreneur who built and sold Groupe Clémentine, an accounting firm and publisher, to TeamSystem. Racines Investissements offers a permanent partnership to European founders ready for their next trajectory.
200 M€
Assets under management (AuM)
1-10 M€
Target EBITDA for our acquisitions
Evergreen
Investment horizon
Our history
An entrepreneur who understands
entrepreneurs.
William Boiché is not a financier by training. He's a builder. After 12 years of entrepreneurial adventure with Groupe Clémentine, an accounting firm and publisher that has become a leader in its sector, he founded Racines Investissements, an evergreen family office dedicated to entrepreneurs looking for a permanent partner.
As a founder and chairman of Racines Investissements, William defines the group's strategic vision, capital allocation and platform architecture. Operational execution is handled by the dedicated Racines teams.
FOUNDATION
The Clémentine Group: 12 years of building a business
William Boiché founded Groupe Clémentine, a new-generation accounting firm and publisher. Without raising any capital, the growth was financed entirely by successive bank loans. Faced with the prohibitive cost of external solutions, William initiated and structured a tech division dedicated to automation and the software platform, which was to become a key catalyst for growth.
Resilience
Crisis, overhaul and acceleration
In 2018, the Clémentine Group went through a major crisis. William embarked on a complete technological overhaul, which was completed in 2019, enabling the company to get back on a solid footing. The industrialised platform - scoring, automation, programmatic approach - propels the Group towards sector leadership.
Technology
A state-of-the-art tech and automation infrastructure
Within the Clémentine Group, William designs and deploys a highly advanced technological and automation infrastructure: industrialisation of accounting production, development of tailor-made internal tools, automation of business processes. This technological capability is becoming a major competitive advantage and a key driver of the Group's growth.
Transfer
Sale to TeamSystem
After several firm bids, William sold 100 % of Groupe Clémentine shares to TeamSystem, Europe's leading software publisher. 12 years of entrepreneurial adventure, unfailing capital discipline and an entirely self-financed journey to the top.
Today
Roots Investments
Racines Investissements is an evergreen family office founded by William Boiché. With €200m of assets under management, growth is financed by successive bank loans and controlled bank leverage. The Family Office deploys practical technological and artificial intelligence tools to industrialise the performance of its platforms, and invests as a long-term strategic partner with entrepreneurs looking to secure their capital and accelerate their career path.
Investment philosophy
We build category leaders.
Our ambition is to build, with you, an essential leader in your segment. A permanent partner who shares your long-term vision and helps you reach the top of your category.
Capital evergreen
Our permanent capital model means that we invest to build category leaders, never to resell.
Long-term partnership
We are committed to working with you over the long term, respecting your heritage and your entrepreneurial vision.
Buyback at 100 % & contractual liquidity
Full buy-out of your company with clear earn-outs written into the contract, or liquidity window with call/put options and multiples fixed at the time of signing.
Independent constellation
Each platform remains an autonomous silo. No forced integration, no artificial synergies. Your identity is preserved.
Quick business decisions
No 12-step investment committee. An agile structure that allows decisions to be taken in weeks, not months.
why founders choose Racines
A third way for the founders
Companies Wanted
Solid businesses looking for
a new chapter of growth
€1–10 million in EBITDA
Bootstrapped companies or end of LBO cycle
Profitable and recurring models
Europe (priority France)
Vertical SaaS
Software platforms specialising in niche businesses with recurring models and strong consolidation potential.
Data centres & Infrastructure
Critical digital infrastructure with predictable revenues and high barriers to entry.
Services ESN & Integrators
Digital services companies and integrators with high added-value expertise.
Fintech & Financial Services
Digital solutions for financial optimisation, payments and corporate infrastructure.
Brokerage & Intermediation
Intermediation platforms with recurring revenue models and captive customer bases.
Training & EdTech
Training organisations and educational platforms with scalable models and high retention rates.
Health & MedTech
Technological solutions for healthcare with regulated and resilient models.
Resilient & regulated models
Structured businesses operating in regulated or programmatic markets, with predictable revenues and strong sector resilience.
Our post-acquisition approach
CEO of the build-up + dedicated teams.
Racines Investissements industrialises growth through internal scoring systems, process automation and data-driven management, a competitive advantage inherited directly from the experience of the Clémentine Group.
W
Role of William Boiché
Strategic vision
Setting the long-term direction and priorities for each platform, with personalised strategic support.
Capital allocation
Methodical deployment of capital between platforms and acquisition opportunities.
Acquisition architecture
Design and orchestration of complementary acquisition strategies for each platform.
Strategic committees
Participation in a quarterly strategy committee for each platform. Monthly operational committees structure day-to-day management.
R
Role of the Racines teams
Operational excellence
Support with financial structuring, optimising cash flow and working capital requirements.
Standardised indicators
Implementation of KPIs and dashboards common to all platforms.
Process automation
In-house scoring systems, automation and the programmatic approach inherited from Clémentine.
Data & Operational AI
Deployment of data and artificial intelligence tools to industrialise concrete processes: scoring, automation, performance monitoring. AI for measurable results.
Our team
Entrepreneurs at the service of entrepreneurs.
A close-knit, experienced and committed team. No unnecessary layers of hierarchy, rapid decision-making to drive performance.
William Boiché
Founder and Chairman SFO
Timothée Rémond
Chief Executive Officer SFO
Long-Term Vision
We build sustainable groups
respecting the company's history
of each company.
Our constellation strategy aims to build a portfolio of independent vertical platforms, each category leader in its segment, sharing best practices without ever sacrificing their identity.
1-5 M€ → 15-20 M€
EBITDA trajectory by platform
Your starting point is between €1m and €5m of EBITDA. Our common goal: to reach €15-20m in consolidated EBITDA.
Multiple
Vertical platforms
Multi-platform strategy in complementary sectors without forced integration.
Independent
Silo model
Best practice shared between platforms, but each retains its operational autonomy.
Programmatic
Systematic growth
Methodical approach to identifying, qualifying and integrating targeted acquisitions.
Frequently asked questions
All you need to know know
Why sell to Racines Investissements rather than a traditional fund?
Unlike traditional funds that plan an exit in 3-7 years, we are an evergreen vehicle. Your business finds a permanent partner, not a temporary owner. Our entrepreneurial DNA means that we understand your day-to-day challenges - we've lived through them.
How does the acquisition process work?
We buy your company at 100 %, with clear earn-outs written into the contract. Depending on your situation, a contractual liquidity window can be offered, with cross options (call/put) and multiples fixed at the time of signature. Everything is transparent and defined upstream.
Will I have to participate in future acquisitions?
Not unless you want us to. William steers the acquisition strategy for each platform. Your role after the sale is defined together according to your wishes: active involvement, gradual transition, or complete withdrawal. We adapt to your life plan.
What is your validation process?
Our process is fast and structured: programmatic identification, internal scoring, first meeting, targeted analysis, then offer. The whole process takes a few weeks, not months. We make entrepreneurial decisions, not bureaucratic ones.
How are you deploying your digital DNA?
Drawing on the experience of the Clémentine Group (a 50-strong tech division), we are deploying: internal scoring and automation systems, data-driven management, artificial intelligence-assisted performance monitoring and continuous process optimisation. Proven operational tools, delivering measurable results.
Do you guarantee confidentiality?
Absolutely. Every discussion is strictly confidential from the outset. We understand the sensitivity of these decisions and are committed to protecting your reputation, your business relationships and your teams throughout the process.
For the founders
Consider THE NEXT STEP?
Every discussion is strictly confidential. We understand that selling or opening the capital of your company is a major decision, so let's take the time to discuss it.
- Secure liquidity for your assets
- Business continuity
- Evergreen capital, with no exit horizon
- Dashboard and personalised monitoring
- Long-term growth support
- Weekly validation process, response within 48 hours