16 million euro as a platform doesn't sound that big. Why is that the right size? I know that Constellation on average acquires companies with 5 million euro in revenue, much lower. Why is the platform not 30 million euro?

This company was founded 30 years ago. When I came, there were 180 employees for 16 million in revenue. We got rid of 50 or 60 people. When I took over the company, the EBITDA was 8%. After two years we reached 24% EBITDA in 2024, so it is quite profitable.

So you now have Everwin, you take over this business. They have these product lines by vertical, 16 million in revenue, 8% EBITDA. Can you walk me through the first few months of what you did to improve that business and how you rolled out the best practices?

It was the GX product line, an ERP dedicated mainly to architects. That is why many people left the company. I fired about 50 people in CSM, marketing, and R&D. At the same time, and this is one of the best practices of Harris that you probably know, when you acquire a company, you take the product and increase the price by at least 10%. I raised the price by about 20% and there was no impact on the churn rate.