Abénex backs LP Promotion MBO

The GP is acquiring its stake from company founder Lucien Ponsot, following his wish to retire. Ponsot’s son Laurent, managing director since 2006, will succeed his father at the head of the company. Pierre Aoun, hitherto deputy managing director, will replace Laurent Ponsot and will be assisted by Romain Lachièze.

The three newly appointed executives will together hold the majority of LP Promotion’s share capital, with Abénex coming in as minority investor.

According to unquote” sister publication Mergermaket, Abénex injected an estimated €45.8m as a capital increase into LP Promotion.

With the fresh capital, LP Promotion will keep increasing its presence in France’s south-west region, where it is has developed in recent years. The group aims to become one of the region’s main real estate players by 2020.

The transaction has been approved by the relevant authorities and will soon be completed.

Company
Founded in Toulouse in 1996, LP Promotion is a real estate developer specialised in housing dedicated to students and the elderly. The group has a strong presence in south-western France, with bases in Toulouse, Bordeaux and the Arcachon Bay.

LP Promotion currently employs 115 people and generates €180m in revenues.

People
Abénex – Julien Keignart (manager).

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• Topics
• Buyouts
• France
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• France
• Abénex Capital