Azulis Capital backs Meotec in OBO

Francesca Veronesi
04 May 2018

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Azulis Capital has acquired 22% of French consultancy Meotec, while the management team has retained the remainder.

Founder Richard Carons bought a 55% stake, while management retained around a quarter of the business.

The GP invested via Middle Market Fund V, which typically targets businesses with EV between €15-150m, providing equity tickets ranging between €10-15m, according to Unquote Data.

Senior debt was provided by Crédit du Nord to finance the transaction.

Company
Founded in 2005, Meotec is a consulting firm, providing services such as project management, sales and logistics, and economic performance consulting. Based in Boulogne-Billancourt, the group generated a €30m turnover in 2017. The business employs 300 consultants.

People
Azulis Capital – Bruno Lavollé; Nicolas Cosson (directors).
Meotec – Richard Caron (founder).

Advisers
Equity – Deloitte, Thierry Billac (corporate finance); Advention Business Partners, Alban Neveux, Anna Montes (commercial due diligence); Agilys Avocats, Karine Violeau, Pierre Jouglard (legal).
Management – Capitalmind, Michel Degryck, Thibault Laroche-Joubert, François-Marie De Chillaz (corporate finance); McDermott Will & Emery, Grégoire Andrieux, Félix Huon (legal); Eight Advisory, Fabien Thieblemont, Edouard de Nettancourt (financial due diligence).