EdRip backs group Bacacier

Alice Tchernookova
24 April 2017

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Edmond de Rothschild Investment Partners (EdRip) has taken a minority stake in industrial group Bacacier through its vehicle Winch Capital 3.

It is the first time that the Bacacier group has opened its capital to an external investor. The entity was previously wholly owned by founding chairman Jean-Christophe Vigouroux.

EdRip invested from the third generation of its Winch Capital venture fund, which closed on €300m in 2014. The vehicle seeks to take minority investments in French SMEs with revenues within the €30-300m range, providing equity tickets of €7-25m. A number of investments have been completed with the fund, the most recent of which was Potel & Chabot, acquired from 21 Centrale Partners alongside AccorHotels.

According to the GP, Bacacier currently ranks third in the French metal cladding market with a 20% market share from around 80,000 tonnes of steel transformed each year. The group claims to have doubled in size over the last 10 years, having recently hit the €160m revenues mark.

Bacacier recently started distributing consumer products, purchasable in some large DIY shops or in its own stores, called La Maison de l'Etancheur. It also developed a product range for architects in collaboration with French designer Philippe Starck.

Vigouroux, who stays on as majority shareholder, will pursue both organic and external growth, aiming to expand the company's geographical coverage – potentially abroad – and to enter new business areas.

Company
Founded in 1995 and based in Aigueperse, the Bacacier group specialises in metal cladding, using a variety of methods such as profiling, folding, cutting, stamping and pressing. It also provides several cladding products, such as roofing, facades, structural floors and false ceilings.

The group distributes consumer products through French DIY chains and via its own chain of stores. In 2017, Bacacier had a 420-strong headcount across 22 sites in France, achieving a €160m turnover.

People
Edmond de Rothschild Investment Partners – Laurent Tourtois, François-Xavier Mauron (managing partners); Tanguy Tauzinat (investment director); Aurélie Denieuil (analyst).

Advisers
Equity – Squire Patton Boggs, Charles Fabry, Aymeric Malphettes (legal, tax, environmental due diligence); Oderis Consulting, Aurélien Vion, Nicolas Boucher (financial due diligence); Sokrates, Claudio Molinaro, Lubomir Mortchev (commercial due diligence). Company – DC Advisory, David Benin, Alexis Matheron, Vincent Béguin, Timothée Héron (corporate finance); Delaby & Dorison, Emmanuel Delaby, Alexandre Gaudin (legal).