Omnes reaps 4.7x returns in Simp exit

Alice Tchernookova
04 October 2016

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Omnes Capital has reaped 4.7x money on the exit of plastic and rubber injection moulding group Simp in a trade sale to Baring Private Equity Asia-owned HCP Packaging.

Following the exit, both vehicles (2007 vintages) will have achieved a distribution-to-paid-in ratio of 1x, Omnes said in a statement. The transaction marks the 12th divestment for the LCL Expansion and Omnes Expansion small-cap funds, according to the GP.

The deal sees Baring Asia-backed HCP Packaging – a Europe, US and Asia-based manufacturer of packaging for the cosmetics, toiletries, skin care and fragrance industries – acquire 100% of the company.

With Omnes' backing, Simp's sales have increased by 11% per year on average. During that time, the company entered new markets, including the US, with 60% of sales generated abroad in 2015.

Previous funding
In 2011, Simp chair Alain Blondel and head of commercial development Eric de Bardonneche tapped Crédit Agricole Private Equity's (now Omnes) LCL Regions Developpement and CAPE Regions Expansion funds, to acquire Simp in a management buy-in from Manuel Viegas, the CEO and owner of the company. Omnes took a majority stake in the group as a result of the transaction.

Company
Founded in 1949 in the Paris region, Simp specialises in plastic and rubber injection moulding. It designs and manufactures small precision parts for cosmetics companies such as L'Oréal, Lancôme, Dior, Givenchy, Estée Lauder, Bourjois and Oriflame, as well as serving certain niche markets such as connectors, aerospace and medical. The group has a production plant in France and one in Mexico.

People
Omnes Capital – Laurent Espic (partner); Capital Antoine Joris (associate); Benjamin Arm (managing director).

Advisers
Vendor – Reinhart Marville Torre, Philippe Torre, Edouard Castel, Guillaume Dupont, Bertrand Thouny, Soazig Preteseille (legal); Advance Capital, Arnaud Vergnole, Pascal Ripaux, Alice Van Der Schrieck (financial due diligence); VHAvocats, Vincent Halbout (tax, legal); Dixhuit Boétie, Annabelle Thieffine (management due diligence).
Equity – Weil Gotshal & Manges, Gautier Elies (legal); Deloitte, Philippe Serzec (financial due diligence); TAJ, Wai-Lin Ng, Christina Melady (tax, management due diligence); Synercom, Richard Juhel (corporate finance).