Capzanine buys minority stake in MCA sponsorless deal

The GP acquired a minority stake in the business and arranged a mezzanine facility to finance the sponsorless deal. According to a statement, the management team will retain a controlling stake in MCA. The company aims to use the capital injection to expand its business internationally.

Capzanine hit the €350m hard-cap of its latest mezzanine fund, Capzanine 4, in October 2016. The fund targets mostly France-based SMEs with a turnover up to €150m.

Company
Founded in 1991, MCA provides engineering services for research and development projects within the automotive, energy, aeronautics and aerospace sectors. The Paris-headquartered business employs 1,000 people and has a presence in France, Belgium, Germany, the Netherlands, Sweden, Spain and Italy.

In 2016, the company posted a turnover of €74.4m.

People
Capzanine – Bruno Bonnin (director); David Hoppenot (CEO, co-founder); Sabine Barral, Emmanuel Fournial (associates).
MCA – Pierre Ebenstein (founder); Florent Ormaechea (CEO).

Advisers
Equity – 3S Finance (M&A); Gaftarnik Le Douarin & Associés (legal); Bonna Auzas Lawyers (legal, tax); Nabarro & Hinge (legal); ACA Nexia (financial due diligence); LEK Consulting (commercial due diligence).
Management – McDermott Will & Emery (legal); Arsene Taxand (tax).
Debt – Hogan Lovells (legal).

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• Topics
• Expansion
• Industrials
• France
• France
• Capzanine