Latour to acquire 33% stake in Charterhouse's Funecap – report

L'Agefi added that the deal values the company at around €1bn.

The publication also reported that the remaining stake in the company will be held by Charterhouse and Ophiliam, the investment holding of Funecap founders Xavier Thoumieux and Thierry Gisserot.

S&P Global reported in September 2020 that Charterhouse had mandated DC Advisory to sell the business, which was to be marketed based on EBITDA of €70-80m.

Charterhouse acquired Funecap Group in August 2018, investing alongside co-founders Gisserot and Thoumieux, both of whom previously worked at Charterhouse prior to founding investment holding company Ophiliam. Funecap had received €350m in unitranche debt in 2017 from ICG. The company reported revenues of €265m and EBITDA of €40m at the time of Charterhouse's investment.

Charthouse invested in Funecap via Charterhouse X, according to Unquote Data. The fund held a final close in November 2016 on €3bn and typically invests in deals with enterprise values of €300-4bn.

Latour held a final close for its latest buyout fund, Latour Capital III, in November 2020 on €1bn. The fund generally deploys equity tickets of €30-120m for deals valued in the €50-300m region. The fund deploys average equity tickets of €100m, according to Unquote Data.

Charterhouse declined to comment. DC Advisory had not responded to a request for comment at the time of publication.

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