Carvest and Loire-Centre Capital back ATER MBO with €2m

Crédit Agricole Régions Investissement and Loire-Centre Capital supported the MBO with a €2m capital injection to take a majority stake in ATER.

ATER’s management team, led by Olivier Oria, will be the new majority owner, while company founder Pascal Gréco diluted his stake further.

Gréco has been progressively preparing his exit from the group, with ATER having undergone a first owner buyout in 2004 in which Siparex acquired a minority stake, and a second buyout in 2010 through which Gréco sold his majority stake to Siparex and new investor Sodero Gestion.

Siparex and Sodero Gestion, which previously held a 37.5% stake, have fully exited the company.

Crédit Agricole Régions Investissement and Loire-Centre Capital said they would help ATER consolidate its activity in existing market segments and would focus mainly on organic development.

Debt
The transaction was supported by a senior debt package arranged by Crédit Agricole des Régions du Centre Ingénierie Entreprises. Existing lenders Caisse Régionale de Crédit Agricole Touraine Poitou and CIC Ouest, as well as newcomer Caisse d’Epargne Loire-Centre, also took part.

Company
Founded in 1984, ATER is a French civil investigation firm. The company progressively developed new services, including risk management for the financial and insurance sectors, property assessment via Cofaris Evaluation, land registration publicity via the leshypotheques.com platform, insurance fraud investigation via Oi2R and customer data update through PND DS.

Based in Montbazon, near Tours, ATER has a headcount of 200 people and generated €16m in revenues in 2016.

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• Topics
• Exits
• Buyouts
• Industrials
• France
• Siparex
• France
• Secondary buyout