Siparex takes minority stake in Lebhar

The GP made the investment through its Midcap 2 fund, which closed on €130m in 2012. The fund targets businesses with revenues of €10-40m, committing equity tickets of between €2.5-10m.

Lebhar CEO Jean‐Pascal Salaün and 10 executives acquired a stake in the business as part of Siparex's investment. Founder and owner Jean-Marc Lebhar, who has been leading the group for 35 years, will retain a controlling stake in the group.

With Siparex's support, the group plans to continue diversifying its products by entering new market segments, providing packaging for new types of clients within the food industry. A number of targeted acquisitions are expected to be completed in order to develop particular activities, the GP added.

Debt
A senior debt package provided by Crédit Agricole Champagne‐Bourgogne and BNP Paribas supported the transaction.

Company
Founded in 1937, Lebhar is a family business headquartered in Sens in the French Bourgogne-Franche Comté region.

It makes packaging for the food industry, notably for pastries, chocolate and catering products. The group registered €36m in revenues in 2016, according to Siparex.

People
Siparex – Pierre Bordeaux Montrieux (associate director); Augustin de Jerphanion (head mid-market activity).

Advisers
Equity – BG2V, Stanislas Richoillez, Enzo Faedda (legal); Roland Gueny, Enzo Faedda (environmental due diligence, tax); Advance Capital, Arnaud Vergnole, Thibault Fleury (financial due diligence).
Vendor – Steering Legal, Amélie Lièvre‐Gravereaux, Olivier
Guinard, Adrien Matillon (legal).
Management – SJB, Sophie Guidou (legal).

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• Topics
• Buyouts
• France
• Consumer
• France
• Siparex