In May 2015, following Dubai, London, Munich, New York, Paris and Shanghai, Advention opened its seventh office in London to serve the United Kingdom and Ireland.

Dzeta Conseil, BNP Paribas Developpement SA, SCR and Indigo Capital France SAS, the France-based private equity firms have acquired majority stake in Nerim, SAS, the France based company operating as a broadband service provider that offers digital subscriber line services, from Fondations Capital LBO Partners, CM-CIC Capital Prive, Capzanine and Perfectis Private Equity, S.A., the France-based private equity firms, for an undisclosed consideration.

Nerim SAS had reported a turnover of EUR 40m for the year ended 2014. The transaction will enables Nerim to grow in France and abroad by capitalizing it’s high-end infrastructure, technical DNA and large client portfolio. The acquisition will allowing the Nerim to take on a new dimension nationwide and widening its product offering. Post transaction, management team, led by the president Cyril de Metz will retains a minority stake.

In April 2012, Fondations Capital LBO Partners had acquired Nerim in a management buyout transaction.

Source Links:
Fondations Capital LBO Partners press release, April 2015 (French)
LD&A Jupiter press release, 16 April 2015
LD&A Jupiter press release, 16 April 2015 (French)

ACCENT Jobs For People N.V., the Belgium-based provider of recruitment and leasing services and a portfolio company of Naxicap Partners, the France-based private equity firm along with the management team of Abylsen Group, the France-based company engaged in providing engineering and technology services, have acquired the company in a management buyout transaction, from Vespa Capital LLP, the UK-based private equity firm, for an undisclosed consideration.

As per terms, the management team will acquire 38% stake and Mr Michel Abecassis will sell all its shares. The acquisition is in line with Accent’s strategy to accelerate its growth in the international market and focus more on highly qualified profiles that represent a higher added value. Abylsen has 700 staff members and it generated revenues of around EUR 71m in the year 2014. In June 2012, Vespa Capital LLP acquired Abylsen Group in a management buyout transaction, from Michel Abecassis.

Mr Jean-Christophe Blot (Blot), former president of Husqvarna France SAS, acquired Generale d'etancheite et de couverture Ile de France (GEC), the France based company engaged in building waterproofing works specialist, in a management buy-in transaction, backed by TCR Capital, the France based private equity firm, from Philippe Meslage, the France based private investor having, for an undisclosed consideration.

Under the terms of the agreement, TCR will secure 55% in the transaction. TCR raised fund through its France Transmission 1 fund via equity tickets of around EUR 6m. The senior debt funding was raised from banks representing 50% of the acquisition price. GEC generated revenue of EUR 15.5m for the year ended 2012, and has a workforce of 48 employees.

Post acquisition, Philippe Meslage, founder of GEC and will retain its position as president for the next 18 months, until Blot takes over the role. TCR and Blot plans to expand GEC by increasing its offering of services and entering into new segments of the market.

Source Link:
Societex Corporate Finance press release, December 2013 (French)

The management of Groupe Ergalis, the France-based company engaged in providing temporary employment services in banking and financing sectors, has acquired the company in a management buyout transaction, backed by La Financiere Patrimoniale d'Investissement SAS, the France-based private equity firm, from Activa Capital, the France-based private equity firm, for an undisclosed consideration.

Groupe Ergalis reported turnover of EUR 160m for the year 2013 and has 4,000 daily temporary workers. LFPI will further develop Ergalis through targeted acquisitions which will strengthen the position of Ergalis in specialty markets such as banking, cosmetics, IT and engineering.

Webhelp SAS, the France-based provider of outsourced customer relationship management services, and a portfolio company of Charterhouse Capital Partners LLP, the UK-based private equity firm, has acquired Fiduciaire De Distribution Internationale, the France-based payment institution specialized in the management of clients’ financial relations, from Parquest Capital, the France-based fund of Parcom Capital Management B.V., the Netherlands-based private equity firm, for an undisclosed consideration. The deal is estimated to be valued at EUR 32m.

Under the terms, Dominique Chatelin, the President and CEO of FDI along with the management team have also invested alongside Webhelp. The acquisition is in line with Webhelp’s strategy to further diversify its range of services and thereby build on its current positive growth and financial performance. This acquisition will enable Webhelp to strengthen its BPO activities and thereby extend its market position and offering in Europe and North America. This transaction will combine Webhelp’s power with FDI’s expertise in international payment services, which will give a greater international influence to Webhelp.

FDI’s head office will remain in Chambery with the existing management teams in place. This acquisition will create a new Webhelp Payment Services unit, which will include all FDI employees and will be led by FDI’s Chairman Dominique Chatelin. FDI generated annual revenues of EUR 20m and has 150 employees. Earlier in October 2003, Parquest Capital had acquired FDI for a consideration of EUR 50m.

Source Links:
Webhelp SAS press release, 09 September 2014
Fiduciaire De Distribution Internationale press release, 09 September 2014

Azulis Capital, BNP Paribas Developpement SA, SCR, Societe Generale Capital Partenaires SAS, the France-based private equity firms along with the management of Ital Express SAS, the France-based distributor of spare parts for trucks, commercial vehicles, tractors and agricultural machinery, public works and cars has acquired the company from La Financiere Patrimoniale d'Investissement SAS, the France based private equity firm, for an undisclosed consideration.

Ital Express reported revenues of EUR 30m in 2013. The investment enables Ital Express to accelerate its growth including development of the Internet channel, take hold of acquisition opportunities which will allow it to make entry into new markets and customers.

Earlier in November 2005, CM-CIC Capital Finance, CM-CIC Capital Finance, La Financiere Patrimoniale d'Investissement SAS and Omnes Capital had acquired Ital Express from Ciclad III, FCPR and later in September 2008, CM-CIC Capital Finance and Omnes Capital sold their stake in Ital Express.

Ardian, the France based private equity firm, has acquired alongside the management a 20% stake owned by Equistone, the UK based private equity firm, for an undisclosed consideration.The transaction will give Spie Batignolles a strong platform for build-up opportunities in France and internationally.

Spie Batignolles operates from 160 locations across France with 7,000 employees and generated EUR 2.1bn in revenues in 2013. Equistone has been a shareholder in Spie Batignolles alongside the management since 2003.

UPDATE 04 September 2014: Ardian has completed the acquisition of a 20% stake in Spie batignolles owned by Equistone Partners.

Source Links:
Ardian press release, 18 July 2014
Equistone Partners Europe press release 31 July 2014
Equistone Partners Europe corporate website 04 September 2014

Qualium Investissement SAS, the France-based private equity firm, has agreed to acquire Biscuits Poult SAS, the France-based producer and distributor of biscuits and cookies from LBO France, the France-based private equity firm, for a total consideration of EUR 180m approximately. European Capital Limited, a UK-based investment company for pan-European equity, mezzanine and senior debt investments arranged a EUR 26m mezzanine financing supporting the acquisition by funds advised by Qualium.

The acquisition enables Poult to continue offering new distributors biscuits in a very competitive market. Post acquisition, Poult will continue its international expansion by operating with all its plants in Toulouse, France. The objective of Poult in the next two years would be to develop antistress biscuits. The Poult group will install a new production line at its plant in Montauban (400 employees) by investing EUR 8m to build a European product and also augment the production of breakfast biscuits factory in Sully-sur-Loire. The transaction is expected to close by July.

Earlier in July 2006, LBO France bought Biscuits Poult from Artal Group SA for approximately EUR 152m supported by European Capital's investment in debt facilities of mezzanine, second lien and senior debt. Later in October 2013, Biscuits Poult sold its Polish division, Dr Gerard Sp. z o.o.

UPDATE 01 July 2014: The acquisition of Biscuits Poult SAS by Qualium Investissement SAS has been completed

Source Links:
LBO France press release, 30 June 2014
European Capital Limited press release, 30 June 2014

logo Locabri

The management of Locabri S.A.S, the France based company engaged in developing, installing, renting and selling of temporary modular buildings, has acquired the company in a management buyout transaction, backed by TCR Capital Partners III, the France based fund of TCR Capital, the France based private equity firm, Groupe Siparex and Carvest SAS, the France based private equity firms, from Ekkio Capital, the France based private equity fund of ACG Capital, the France based private equity firm, for an undisclosed consideration.

Locabri has a workforce of 70 employees and reported revenues of EUR 18m for 2013. TCR Capital, Siparex and Carvest have acquired 65%, 23% and 3% stake, respectively while management has acquired 9% stake in the company. The acquisition was funded through EUR 14m senior debt financing and EUR 4m credit facility from CIC - Lyonnaise de Banque, LCL, Credit Agricole Centre Est and BNP Paribas, the France based commercial and investment banks. IFE Mezzanine, the France based private equity firm has provided EUR 7.5m mezzanine financing for the acquisition.

logo TCR

The management of Set Environnement S.A.S., the France based company engaged in providing asbestos removal services, has acquired the company, in a management buyout transaction, backed by TCR Capital, the France based private equity firm, from Groupe Siparex, the France based private equity firm and Roland Sonnet, the France based private individual, for an undisclosed consideration.

Under the terms of the agreement the management of Set Environnement also has acquired stake in the company. In 2013, Set Environnement has reported revenue of EUR 13m. (USD 24.78m) and employs 12 people. In 2011, Groupe Siparex had acquired Set Environnement S.A.S, for a consideration of EUR 10m.

Cabestan Capital, the France-based private equity fund of Edmond de Rothschild Investment Partners, S.A.S., the France-based private equity and venture capital firm, and Institut Lorrain De Participation SA, the France-based private equity firm, have acquired 37% stake in Gris Decoupage S.A.S, the France-based that manufactures engineered washers and mechanical components for bolted assemblies, for an undisclosed consideration. The deal is estimated to be valued at EUR 6m.

Gris Decoupage reported revenues of EUR 36.3m for the year 2013. The investment will enable Gris Decoupage to expand its operations in Europe and also in Germany through its subsidiary GUT GmbH.

Source Links:
Edmond de Rothschild Investment Partners, S.A.S. press release, 28 January 2014 (French)
Chammas et Marcheteau press release, 28 January 2014

France Transmission 1, the France based fund of TCR Capital, the France based private equity firm, has acquired a 60% stake in D2FC energy valves SAS, the France based company engaged in developing valves for hydropower applications, as part of a management buyout, for an undisclosed consideration.

D2FC generated revenues of EUR 21m in 2012 and has a workforce of 72 employees. Post acquisition, the founders will leave the management of D2FC, but will retain the remaining 40% stake in D2FC.

logo Bridgepoint

Bridgepoint Europe IV Fund, the UK based investment fund of Bridgepoint, the UK based private equity firm has acquired Dr Gerard Sp. z o.o., the Poland based company that produces and markets cookies and chocolate products from Biscuits Poult SAS, the France based company engaged in producing biscuit and cookies, for an undisclosed consideration. The deal is estimated to be valued at EUR 118m.

Dr Gerard reported revenues of EUR 70m in 2012 and has a total of. 950 employees. Dr Gerard is expected to generate revenues of EUR 57m and EBITDA of EUR 14m in 2013. The acquisition is in line with Bridgepoint's growth strategy to concentrate on Central and Eastern Europian market, along with focus in the Polish market. The transaction will also help in the future growth and expansion of Dr Gerard in the global market.

Prior in 2010, Biscuits Poult bought Dr Gerard.

Source Link:
Bridgepoint press release, 02 October 2013

logo Tournus

The management of Tournus Equipement, S.A.S., the France based company that designs, manufactures and ships stainless steel equipment for professional kitchens, has acquired the company in a management buyout transaction backed by CDC Entreprises, the France based private equity firm, MML Capital Partners Limited, the UK based mezzanine and private equity investment firm and UI Gestion SA, the France based private equity firm, from Qualium Investissement SAS, the France based private equity firm, for an undisclosed consideration.

The management team was led by Mr. Pierre Marcel, Tournus's Chairman. Tournus reported a turnover of more than EUR 40m and employs 200 employees. The transaction enables Tournus to expand its business in the international markets. Post acquisition, MML Capital Partners Limited will hold 21% stake in Tournus and it has invested EUR 10m for the stake. Earlier in 2011, Qualium Investissement had acquired Tournus Equipement in a management buyout transaction.

Source Link:
Qualium Investissement SAS press release, 02 September 2013
Qualium Investissement SAS press release, 02 September 2013 (French)

Advention Business Partners

Head office: 6 rue Anatole de la Forge 75017 Paris, France +33 1 53 43 88 58