EdRip takes minority stake in G3S Alyzia

EdRip invested through its ActoMezz subsidiary, specialised in the provision of mezzanine debt and minority equity financing.

As part of the sponsorless transaction, ActoMezz provided G3S with a two-tranche mezzanine debt package, as well as a minority equity investment. The management team, led by founder Serge Sellan, significantly increased their stake in the business.

With around €400m under management, ActoMezz focuses on French small-to-mid-cap businesses with an enterprise value within the €15-200m range, providing equity tickets of €5-45m.

EdRip acquired ActoMezz from ACG Capital in July last year. ActoMezz has raised two funds to date: Acto Mezzanine 1, closed in 2008 on €187m, and Acto Mezzanine 2, closed in 2015 on €210m. A third fund, Acto Mezzanine 3, was expected to be launched in H1 2017.

Debt
LCL and BNP Paribas also contributed to the transaction, providing a senior debt package.

Company
Founded in 2000 by Serge Sellan, G3S provides airport ground handling services at French airports. The company operates through two subsidiaries – 3S and Alyzia – and offers services such as check-in, boarding, passenger reception, flight transfer, ticketing, and baggage handling.

G3S became the owner of Alyzia in 2011, as Euronext-listed Aéroports de Paris (ADP) sold an 80% stake. Based in Tremblay-en-France near Paris, G3S Alyzia generates €300m in revenues and employs 3,000 people.

People
Edmond de Rothschild Investment Partners – Laurent Fichter (partner); Xavier Buisson (director); Pierre-Luc Wilain de Leymarie (executive).

Advisers
Equity – McDermott Will & Emery, Pierre-Arnoux Mayoly (legal).
Company – Ngo Jung & Partners, Clarisse Brely (legal); Cohen Amir-Aslani, David Amiach (legal); Deloitte, Benoit Pimont (corporate finance).
Debt – Hogan Lovells, Sabine Bironneau (legal).

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