Omnes divests Pommier, fully realises CACI 2 fund

The management team taking part in the buyout was supported by a consortium of investors comprising BPI France, NCI, and BNP Paribas Développement.

The exit follows a holding period of nearly 10 years. Omnes (then Crédit Agricole Private Equity) acquired a minority stake in Pommier in 2007, providing a partial exit opportunity for the company's founders while management increased its stake. LCL led a banking pool comprising BNP Paribas, Natixis and Oséo to underwrite a two-tranche senior debt package. A new LBO was cited at the time as a likely exit route, given the young age of the management team, according to unquote" data.

Growth efforts were focused on two areas in particular, Omnes stated: bolt-on acquisitions (for which lenders in the original deal had provided capex facilities), and R&D investment resulting in the submission of 70 patent applications over the course of the investment.

The exit to management and their financial sponsors marks the final divestment from its CACI 2 mid-cap fund – the vehicle was raised in 2005 and is now fully divested after 11 years with an IRR of 15%.

Company
Based in Saint-Ouen-l'Aumône, Pommier designs, manufactures and distributes a range of accessories and parts for industrial vehicles through three divisions: Pommier Truck Accessories, Pommier Dock Equipment and Pommier OEM Solutions. It has four sites in France and four subsidiaries in Europe (in the UK, Italy, Spain and Poland).

With 300 employees, Pommier generated a €70m turnover in 2015, including 50% from exports. At the time of the acquisition by Omnes in 2007, the company posted revenues of around €100m, according to unquote" data.

People
Omnes Capital – Eric Rey (partner).
Groupe Pommier – Jean-Patrick Sauvy (chair).

Advisers
Vendor – Goetzpartners, Guillaume Piette, Julien Pascal, Jeanne Delahaye (M&A); Paul Hastings, Olivier Deren, Charlotte Dupont (legal); Oderis, Julien Passerat, Aurelien Vion (financial due diligence).
Management – Scotto & Associés, Nicolas Ménard-Durand, Tessa Parodi de Schonen (legal); Financière Ponthieu, Alexandre Azan (corporate finance).

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• Topics
• Exits
• Industrials
• Buyouts
• France
• Omnes Capital
• France