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Crédit Agricole Private Equity - English Version> news> Our investments> Mezzanis

Our investments

Mezzanis

Examples of the Mezzanine team's investments:


Abrisud
Abrisud is the French market leader in fixed or removable swimming pool covers sold to individual customers.
The company was bought from the founding family in August 2005 in an MBI backed by funds managed by Atria Capital Partenaires.
Mezzanis arranged and contributed the mezzanine financing tranche of the deal.
www.abrisud.fr

Bréteche Industrie
Created in 1998, Bretèche Industrie designs, manufactures and installs industrial equipment for the food manufacturing industry. The company enjoys market-leading positions in three market segments: bakery and patisserie products (VMI and Disona), dairy and cheese products (Tecnal and Chalon Megard) and abattoir automation (Norman). The group has nine production plants in France, Germany, Italy and the Czech Republic. 
www.breteche.com

Compin
Compin makes seats for trains and coaches. The company has notably been hired by the French train operator SNCF to equip the third generation of its TGV high-speed trains.
Compin was bought from its founder in June 2005 by LBO France, in association with a manager specialised in the rail industry.
Mezzanis arranged and contributed the mezzanine financing tranche for the deal.

www.compin.com

Doucet group
Doucet group, one of the key French manufacturers of home care and professional cleaning products, insecticides and dyes, was acquired in July 2004 in an LBO by a group of funds managed by ING Parcom PE. The group's management has also committed capital to the business to part-fund a build-up strategy. Mezzanis arranged 55% of the mezzanine finance for the deal.
Mezzanis supported implementation of the expansion strategy by arranging two complementary tranches of mezzanine finance to fund the acquisition of Primalab and Sinto in 2005.
www.doucet.eu

France Geothermie
Created in 1995, France Géothermie manufactures geothermal and aerothermal heat pumps for individual homes. In 2007, the company generated revenues of EUR23.5 million. It has a network of 50 exclusive dealerships and 120 accredited partners.
www.france-geothermie.com

Frères Blanc
Frères Blanc Group, founded in the 1930s, is one of the leading actors in the commercial restaurant sector. Its development is structured around two main concepts: large, traditional brasseries and the restaurant chain Chez Clément. In conneciton xith the LBO led by CDC Entreprises, mezzanis took a EUR6 million stake in the mezzanine financing for this operation with a further EUR1 million in equity.


Gardiner
Gardiner is Europe's number one distributor of electronic security products (access control, video surveillance, fire alarms). The company makes more than half its sales in the UK and Ireland and 25% in France.
Gardiner was acquired from Rexel in June 2003 via an LMBO launched by Electra Partners Europe in association with the company's management team.
The deal was part-financed by a EUR15 million mezzanine tranche of which Mezzanis arranged EUR5.1 million.
www.gardiner.fr

Hermès-Métal Yudigar
Hermès-Métal Yudigar (HMY) group is European market leader in the design and installation of sales spaces. It was taken over in late 2004 in an LBO by funds managed by Sagard and co-investors.
Mezzanis contributed 10% of the mezzanine tranche for the operation
www.hmy.fr

Leyton Associés
Created in 1997, Leyton Associés is a consulting firm specialising in cutting payroll costs (social security contributions, research tax credits, workplace accidents). The company has 200 employees based in France (Paris, Lyon, Toulouse and Montpellier) and abroad (Dublin and Montreal). It generated revenues of EUR23 million in 2007.
www.leyton.fr

Lyonnaise de Garantie
Created in 1997, Lyonnaise de Garantie is an insurance broker for real estate professionals: developers, property managers, portfolio managers, estate agents, bankers etc. It offers rental guarantee and property damage insurance (Sécurissimo), sale value insurance (Valorimo) and resale value insurance (Bailimo). Via a network of partners, Lyonnaise de Garantie also offers advice on signing and managing contracts, as well as settling claims. In 2007, Lyonnaise de Garantie generated revenues of EUR9.7 million. It has 26 employees.
www.lyonnaise-de-garantie.com

Mediascience
Mediascience, better known by its brand name Jeulin, is the leading supplier of educational products to French secondary schools, particularly in scientific subject areas.
In January 2001 it was acquired by Parcom ING PE, in association with managers specialising in the publishing and education markets. Mezzanis arranged and took a participation in a EUR5.6 million mezzanine tranche structured as convertible bonds with share warrants.
Mezzanis exited in March 2004 in the course of a refinancing and private share placement.
www.mediascience.fr

The Ontex group
The Ontex group is Europe's leading manufacturer of private label hygienic disposables (nappies, feminine hygiene products, incontinence products).
In January 2003, the investment fund Candover, in association with the group's founder and management team, gained control of Ontex in a deal that was followed by the group's delisting from the Brussels stock exchange.
The financing of the acquisition incorporated a EUR165 million mezzanine tranche, in which Mezzanis took a EUR6 million participation.
www.ontex.be

Outremer Télécom
Outremer Télécom is the number two telecoms operator in France's overseas dependencies (Guadeloupe, Martinique, Réunion and French Guiana), after France Telecom. The company offers private and corporate customers fixed and mobile telephony, broadband internet and prepay cards.
In December 2004, funds managed by Apax, in association with the company's founder and other investors, took over the company in an LBO with a view to developing in the growth markets of ADSL and mobile. The financing of the deal incorporated a EUR10 million mezzanine tranche, of which Mezzanis arranged 55%.
Mezzanis supported implementation of the expansion strategy by co-arranging in November 2005 another EUR4 million in subordinate finance to part-finance the launch of GSM in the French Antilles.
www.outremer-telecom.fr

Pomme de Pain
Pomme de Pain is France's fourth-largest sandwich chain with a particularly strong presence in and around Paris. In June 2004 it had about 50 directly-owned sandwich restaurants, plus about 20 run under concessions or franchises.
Pomme de Pain was sold in June 2004, via an LBO, to funds managed by Finama Private Equity (Acto) alongside other financial investors and the company's management.
Mezzanis arranged EUR3 million of mezzanine finance for the deal.
www.pommedepain.fr

Regency Hôtel
Founded in 1994, Regency Entertainment is a Greek company specialising in building and managing casinos (Regency Casino Thessaloniki, Regency Casino Mont Parnes) and luxury hotel complexes (Hyatt Regency Thessaloniki). The company is Greece's market leader in casinos and has 2,500 employees.
www.regency.gr

SCT Telecom
SCT Telecom specialises in voice, mobile, installation and internet solutions for businesses. It has 200 employees spread across a network of 22 agencies in France.
www.sct-telecom.fr

Sonovision
SONOVISION-ITEP is a major player in the field of technical documentation and document engineering. Founded in 1948, the company is active in England, Germany, Canada, France and Romania, employs 1,200 people, and generated annual revenue of EUR 85m in 2005. Its core activity, the drafting of technical documents, is primarily aimed at equipment manufacturers and users in the aeronautical, space and energy sectors. Among its clients are Airbus, Dassault Aviation, Air France, Alstom, and the RATP (Parisian subway). The company was taken over in 2006 by the funds managed by LBO France alongside other investors. Mezzanis co-arranged the mezzanine tranche in the financing of the operation.
www.sonovision.fr

Terreal
Terreal is a specialist manufacturer of terracotta tiles and bricks for the building trade. The group is number two in its sector in France and targets both new-build and renovation markets.
Terreal, formerly a subsidiary of Saint-Gobain, was acquired in an LBO by Carlyle and Eurazéo, and the company's management, in October 2003. The acquisition was partly financed via a mezzanine tranche, in which Mezzanis took a EUR5 million participation.
Mezzanis divested its holding in November 2004 during a refinancing of the LBO structure.
www.terreal.com

"Un Jour, Ailleurs"
"Un Jour, Ailleurs" is a women's ready-to-wear brand specialising in formal attire and cocktail wear. The chain has more than 100 stores in France, located in both shopping malls and town centres.
In October 2001, it was bought up by Astorg Partners in association with the chain's founder and management team.
The financing of the deal incorporated a mezzanine tranche, in which Mezzanis took a 40% participation.
www.un-jour-ailleurs.com

Vivarte
Vivarte (previously part of the André group) is one of France's leading fashion and shoe retail chains. The group runs 2,500 stores sited on high streets or the outskirts of towns, under the La Halle, San Marina, Minelli, André, Caroll, and Kookaï banners.
In April 2004, funds managed by PAI and other investors gained control of Vivarte in a deal that was followed by the group's delisting from the Paris stock exchange.
The financing of the public to private deal incorporated a EUR225 million mezzanine tranche, in which Mezzanis took an EUR7 million participation.
Mezzanis divested its holding in August 2005 during a refinancing of the LBO structure.
www.vivarte.fr

Fondis Electronic
Founded in 1982, Fondis Electronic distributes throughout France, Europe and North Africa a wide range of complementary products in various markets (Environment, Diagnosis real estate, metallurgy, industry, microscopy, research, laboratory and materials).
www.fondiselectronic.com

InfoPro Communications
InfoPro Communications is the holding company of the leading French professional information group ETAI. The group is organized around 3 sectors: automotive, industry, and distribution.
www.infoProcommunications.com

Gérard Darel
Gerard Darel is a leading French designer and retailer of mid to high-end women's ready-to-wear clothing.
www.gerarddarel.com

Groupe Tiama
The Tiama Group offers hollow glass inspection equipment for glass makers in North America, South America, Africa, and Asia. It offers cold-end inspection, hot-end imaging, filled containers inspection, and laboratory equipment.
www.edixia.com
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