Fondations Capital acquires Courtepaille from ING Parcom

Fondations Capital will hold a majority stake in the business alongside management and around 200 employees. The purchase price represents an 8.7x multiple on 2010 EBITDA. Debt financing for the acquisition consists of €160m worth of bonds, taken up exclusively by mezzanine house ICG.

ING Parcom Private Equity backed the €200m secondary buyout of Courtepaille from Barclays Private Equity and Accor in 2005. ING took a 65% equity stake in the company through its €130m commitment, with management holding the €70m balance.

Courtepaille is headquartered in Evry, just outside Paris, and was founded in 1961. The company comprises 222 restaurants across France and generated a €280m turnover in 2009. Courtepaille currently employs 3,600 people.

The unquote" team is currently researching this transaction. In-depth deal information for subscribers will follow shortly.

If you have any information regarding this transaction, please contact Grégoire Gille on +44 20 7484 9824 or gregoire.gille@incisivemedia.com

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• Topics
• France
• Buyouts
• Exits
• Consumer
• France
• ING
• Secondary buyout