Capzanine backs MBO of CBE Group

Capzanine acquired a stake in the group and also arranged a senior mezzanine facility to support the transaction. The GP will finance the MBO using capital from Capzanine 4, a €350m mezzanine fund that backs sponsorless SMEs.

The incumbent CEO took over the company from the founder in 2005 and has decided to exit his investment and withdraw from his management role. Philippe Samama will take over as CEO and also acquired a stake in the buyout.

The new funding will be used to diversify geographical coverage and business lines for the company, and support acquisitions.

Debt
Senior debt for the transaction was arranged by Crédit Agricole Touraine-Poitou, Banque Populaire, Caisse d'Epargne and BPI France.

Company
CBE was founded in 1987 and was previously known as CBE Tunnel. It produces segment moulds for pre-casting materials such as steel and concrete for tunnel projects. One of its major projects was the Channel tunnel between Folkestone and Calais, which opened in 1994.

The company employs 250 people and generated revenues of €35m in 2016, 85% of which were generated outside of France.

People
Capzanine – Clément Colin (senior associate).
CBE Group – Philippe Samama (CEO).

Advisers
Equity – Orrick, Carine Mou Si Yan, Julien Bensaid (legal);  Roland Berger, Georges de Thieulloy, Mamadou Goundiam, Lucas Lijour-Schweig (corporate finance); Aca Nexia, Hervé Krissi (financial due diligence);

Company – Lamartine Conseil, Isabelle Horvilleur-Bars, Laura Smyrliadis (legal).

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• Topics
• Buyouts
• France
• Industrials
• Capzanine
• Mezzanine
• France
• Orrick
• ACA
• Lamartine Conseil