Eurazeo acquires Groupe Cap Vert Finance

Eurazeo PME gained a 57% stake in the company, with members of CVF's management team, including board chairman Bruno Demolin, acquiring a 35% stake. The company's founder, Loïc Villers, will retain an 8% stake in the business.

The fresh funding will be used to expand CVF on an international basis, as well as accelerate the company's growth both organically and through acquisitions.

Eurazeo PME was attracted to the company's positioning in the recycling market, as well as the involvement of the management team and CVF's ability to grow organically.

The deal was sourced on a proprietary basis. Eurazeo PME began speaking to CVF's management around six months prior to the transaction, meaning all parties involved had time to build a suitable deal.

Atria invested in the management buyout of CVF via its Atria Private Equity Fund III vehicle in December 2010. Directors Bruno Demolin and Pouzaud Fabrizio, along with CFO Stéphane Regenet, also invested in the company, while a senior debt package was provided by LCL.

Debt
A debt package has been provided for the buyout, with LCL acting as lead arranger. Banque Palatine, Caisse d'Epargne and CA Brie Picardie all provided debt for the acquisition.

Company
Founded in 2007, CVF is headquartered in Paris and employs 150 staff. The company recorded revenues of €60m for the year ending March 2013.

CVF provides maintenance, repair and operations for servers, networking equipment and IT storage. It also operates in the recycling, leasing and trading of electronic equipment. The company's main subsidiaries are IB Remarketing and AS Lease.

People
Loïc Villers is the founder of CVF. Olivier Millet is the chairman of Eurazeo PME's management board. Eurazeo PME associate director Pierre Meignen, investment director Mathieu Betrancourt and analyst Rafaelle Faibis worked on the deal for the firm.

Advisers
Equity – Shibumi Corporate Finance, Jean-Michel Lebouvier, François Kittel (Corporate finance); Néovian, Patrick Richer, Guillaume Rambaud (Commercial due diligence); PwC, Guillaume Lorain, Gregory Volpi, Nicolas Godin, Sylvain Lambert, Emilie Bobin (Financial due diligence, social due diligence); Marsh, Pierre De Rochebouet, Jean-Marie Dargaignaratz (Insurance due diligence); Arsene Taxand, Frédéric Tepper, Jacques Mestoudjian (Tax); Wragge & Co, Jérôme Patenotte, Sophie Mesnier Teissedre, Hala Nehmé (Legal).
Vendor – Ngo Cohen Amir Aslani & Associés, Gérard Cohen, David Amiach (Legal).
Management - Ngo Cohen Amir Aslani & Associés, Gérard Cohen, David Amiach (Legal).
Company – NG Finance, Olivier Schwab, Jacques-Henri Hacquin (Corporate finance); SCP Grand Auzas & Associés, Armelle Jarlaud, Vanessa Bourgeois (Legal).
Debt - Delsol Avocats, Frédéricque Milotic, Perrine Labrusse (Legal).

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