Eurazeo in exclusive talks for Rothschild's nursery LPCR

Contacted by unquote", Eurazeo declined to provide further details about its upcoming acquisition of LPCR. In a statement, the listed GP revealed it will invest in the business alongside co-founder and current CEO Jean-Emmanuel Rodocanachi.

The exclusive talks announcement comes months after French publication Capital Finance reported that Lazard had been mandated to set up an auction for LPCR. According to these reports, the process featured competing bids from Eurazeo, Sagard and the Florac holding.

Since its foundation in 2000, LPCR has specialised in managing workplace nurseries. With headquarters in Nanterre, the business claims to be the second largest nursery operator in France, with 250 establishments aimed at 850 corporates, public administrations and associations, among other clients. The company currently employs 3,000 staff and posted more than €140m in turnover during 2015.

In December 2010, LPCR became a portfolio company of Edmond de Rothschild's merchant banking division Five Arrows Principal Investments (FAPI), which closed its second fund on €775m last October. FAPI bought a 40% stake in the business during an OBO, according to press reports at the time.

Under its more than five years as shareholder, FAPI has supported the company's expansion in France. As part of that strategy, LPCR has bolted on competitors including Biocrèche, acquired in 2013, as well as Crèches & Malices and Baboune, snapped up during 2014.

Should it be confirmed, the deal would represent Eurazeo's first buyout for 2016. The latest purchase by the listed GP took place in late November 2015, when the firm invested €300m to buy Irish tax-free shopping service Fintrax from Exponent Private Equity.

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• Topics
• Consumer
• France
• Investments
• France
• Secondary buyout