Capzanine backs Alphitan in MBO

The GP used its Capzanine 4 Flex Equity fund for the transaction. According to Unquote Data, the fund closed in October 2016 on €350m, after seven months on the road. 

The fund targets mostly France-based SMEs with a turnover up to €150m, and usually provides a mix of equity and mezzanine debt.

Senior debt for the transaction was provided by Crédit Agricole Aquitaine, LCL, Caisse d'Epargne Aquitaine Poitou Charentes and BNP Paribas.

Alphitan seeks organic growth and plans to develop internationally, particularly expanding its presence in China.

Company
Founded in 1982, Alphitan specialises in the maintenance of electronic components and motorised equipment used in industrial processes. The firm has six subsidiaries, which operate in a varied range of sectors, including automobiles, food processing, and metallurgy. 

Based in Bordeaux, the group employs 270 people and generates a turnover of around €30m.

People
Capzanine – Benoit Choppin (partner).
Alphitan – Jérôme Siat (CEO); Jean Louis Yang (president).

Advisers  
Management – Villemot Barthès & Associés, Edgard Sarfati, Catherine Barthès-Hallé (legal).
Equity – Gaftarnik Le Douarin et Associés, Mickaël Lévi, Sarah Mobtahij (legal); LM Avocats, Laurent Mamou (tax).

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