TCR Capital et al. in Lescuyer MBI

TCR secured a majority stake in the primary management buy-in, with Ouest Croissance and BPI France acquiring minority shareholdings. The transaction saw Isabelle de Carmantrand take over as chief executive, as the founding family sought to take the business in a new direction, according to a statement from the investors.

LCL and Caisse d'Epargne Aquitaine Poitou Charentes arranged a senior debt package for the transaction, with participation from Crédit Mutuel Arkéa. BPI France further supplied a mezzanine package.

The GPs stated they would first look to grow the business organically before turning it into a platform to attempt and consolidate the sector.

TCR currently has €350m in assets under management and typically targets French businesses valued in the €10-70m range. Lescuyer is likely to sit at the lower end of that range, given that the business generates a €14m turnover, according to TCR.

Company
Established in 1994 and based in La Rochelle, Lescuyer specialises in micro-nutrition and the development of nutritional supplements, with its main product aiming to reduce users' cholesterol levels. It employs around 50 staff.

People
TCR Capital – Christian Dorléac, Fabien Bernez (partners); Thibault Menel (analyst).
Ouest Croissance – Henri Guillermit (chair); Laurent Bodin (investment director).
BPI France – Marc Prévot (investment director).

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• Topics
• Buyouts
• France
• Consumer
• France
• TCR Capital
• Management Buy-in