Siparex Intermezzo and BPI inject €4m into Neovivo

Neovivo's CEO and founder, Norbert Le Menelec, will retain a large majority stake in the group following the transaction. Some key company executives will also hold shares in the group. 

It is the first time Neovivo welcomes an external investment. The raised capital, which brings in a combined financing made up of equity and mezzanine debt, will mostly enable Neovivo to focus on its digital transition, launching an e-commerce platform. The group also hope to develop Neovivo Silver – a home-based service dedicated to helping the elderly.

Debt
A €3m senior debt was provided by CIC Ouest and Banques Populaires complemented the mezzanine debt and equity structure. The leverage for the transaction was "very moderate," a source close to the deal told unquote". 

Company
Based in Bouguenais, Loire-Atlantique, Neovivo offers thermal and hygrometric diagnosis for private properties and individual home owners. It also offers installation services for isolation, ventilation, heating, carpentry and roofing.

The group's current turnover amounts to €15m. It counts 120 staff members spread across 11 branches, located for the most part in western France.

People
BPI France – Marc Prévôt (inter-regional investment director); Nicolas de la Serre (associate investment director).
Siparex Intermezzo – Richard Dalaud (executive board member); Philippe Dutheil (member of directors' board).
Neovivo – Norbert Le Menelec (CEO, founder). 

Advisers
Company – CVS, Françoise Jaouen, Marie-Hélène Perin (legal).
Equity – Egice, Marielle Moureuil (legal); 8 Advisory, Bertrand Perrette (financial due diligence); Alerion Avocats, Louise Ferreira, Cécile de Smedt, Benoit Dehaene (tax, legal, environmental due diligence).
Mezzanine – Alerion Avocats, Pierre-Olivier Brouard, Louise Ferreira (legal).

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• Topics
• France
• Expansion
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• France
• BPI France
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