Equistone seals Brétèche Industrie deal

unquote" reported on the Brétèche buyout at the end of January. The firm invested via its EPEF IV fund, which closed in January on €1.5bn. The vehicle targets businesses with an EV of €50-300m across Europe, investing €25-125m.

Céréa Capital and Brétèche's management team invested alongside Equistone. LCL, CIC, Société Générale, Palatine, Crédit Agricole and BNPP provided a debt package to support the transaction. Capzanine and Céréa Mezzanine contributed mezzanine financing.

This is Equistone's first deal completed in France since the end of 2011, when the GP backed the secondary MBO of French pharmaceutical company Unither from ING Parcom, CM-CIC Investissement and Picardie Investissement.

Founded in 1988, Brétèche designs, partly manufactures and installs industrial equipment for the food sector, with a particular focus on bakery pastry mixing.

Brétèche employs around 780 staff and generated a turnover of €165m in 2012.

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