
Nixen-backed Vulcain acquires Consultys, refinances debt
Backed by Nixen Partners and Initiative & Finance Partenaires (I&F) since 2014, Vulcain Ingénierie has bolted on Consultys and restructured its debt package with a €40m unitranche provided by Idinvest Partners.
The €40m debt package will replace the €13m senior and €7m mezzanine debt put in place to support Nixen's acquisition of the group in 2014.
It is the third acquisition completed with Nixen's backing, after French group WDB and UK group Oxand in June this year, both nuclear sector consulting firms.
Nixen will continue its buy-and-build strategy in the coming months, working on the group's international development and on the widening of its sector coverage. Vulcain has already expanded into Asia and Africa.
After completion of the transaction, Vulcain will count 850 staff spread across seven countries, with €80m of turnover for 2016.
Previous funding
In 2014, Nixen took a majority stake in Vulcain, with I&F associated as minority shareholder. Founder Laurent Thomas retained a minority stake in the group.
Company
Based in Lyon, Consultys is an engineering consultant specialised in the pharmaceuticals and biotechnology sectors.
Founded in 2010 and based in Neuilly-sur-Seine, Vulcain is an engineering company providing consulting services. The company offers project management services including project coordination, contracts, planning, cost control and more.
People
Nixen Partners – Jean-Paul Bernardini (managing partner); Johann Le Duigou (partner); Laurent Brossaud-Monty (associate).
Initiative & Finance Partenaires – Matthieu Douchet (associate director); François Golfier (associate).
Advisers
Equity – KPMG, Antoine Bernabeu, Olivier Boumendil (financial due diligence); STC Partners, Berbard Araud (tax); LEK Consulting, David Danon-Boileau, Arnaud Sergent (commercial due diligence) ; Marsh, Jean-Marie Dargaignaratz (insurance due diligence) ; Goodwin, Thomas Maitrejean, Adrien Paturaud (legal).
Vendor – Ixa, Sylvain Lagneaux, Nacera Djaafar (legal).
Debt – Paul Hastings, Mounir Letayf, Adeline Tieu Roboam (legal).
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