OTC and Ardens merge into SME-focused Apicap

The combination of both firms will result in a group holding stakes in 127 SMEs and managing €480m in assets, €425m of which came from OTC Agregator's side.

In addition, Apicap will oversee a combined 39 funds, 34 of which were managed by OTC prior to the merger. The new group's vehicles include three FCPRs, innovation-focused FCPIs like the OTC Entreprises family, sector-specific funds like FIP Luxe, and almost 20 regional funds.

Apicap will build on its existing portfolio by deploying €1-10m equity tickets into SMEs valued between €1-50m – the same range that OTC targeted with its investments since being founded in 2001, according unquote" data.

At the head of the new SME-focused firm will be CEO Jérôme Lescure, who was managing partner at OTC prior to the merger. Additional key figures include managing partner Alain Esnault (hitherto partner at OTC), and partners Henri Gagnaire and Alexandre Rossoz, who also held roles at the GP. In addition, Ardens will bolster Apicap's partnership with Louis Renaudin and Frederic Ruppli.

The combination of the two firms is the latest example of the ongoing consolidation among French private equity houses; the trend was noted by unquote" in May, with highlights including ACG Private Equity's purchase of Acto Mezzanine and fund-of-funds Quartilium.

The phenomenon is expected to spread out to the country's growth and venture capital spaces. In May, French VC Siparex became the majority owner of early-stage specialist XAnge Private Equity. The move culminated with the appointment of Olivier Pagezy as CEO for XAnge over the summer, which was followed by the departure of the VC's chair Hervé Schricke in early September.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• France
• People
• GPs
• France
• Apicap
• OTC Agregator