Apax France exits RC Concept

Alessia Argentieri
01 June 2018

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Apax France has sold its stake in advertising specialist RC Concept to CM-CIC Investissement.

Apax acquired a 40% stake in RC Concept as part of EPF Partners' Fund III portfolio bought by the firm in July 2017.

EPF is a French private equity firm focusing on small-cap deals, and acquired its stake in RC Concept in 2011. After EPF merged with Apax Partners, a new small-cap subsidiary was created within the firm, called Apax Partners Development, which inherited EPF's portfolio.

Under EPF and then Apax Partners Development's management, the company grew and increased its revenues from around €13m in 2011 to €65m in 2017. In addition to this, RC Concept, which only targeted the French market in 2011, expanded internationally, and in 2017 generated 20% of its revenues from abroad.

Following CM-CIC acquisition, the company intends to strengthen further its market position and expand internationally into new markets, primarily in Asia.

Company
Founded in 1990 and headquartered in Boulogne-Billancourt, near Paris, RC Concept is composed of 14 companies specialising in advertising and marketing for the luxury goods and cosmetics sectors. The business provides creation, design and production of POS equipment; production of visuals; cross-media adaptation; photographic and digital printing; installation and decoration at the point of sale; and promotional gifts.

RC Concept generated revenues of €65m in 2017, of which 20% came from abroad. The group operates in Milan and Frankfurt, has a presence in Hong Kong and offices in London and New York.

People
RC Concept – Raphaël Cohen (founder).
Apax Partners Development – Bérenger Mistral (principal).
CM-CIC Investissement – Stéphane Vermot-Desroches (director).

Boulogne Billancourt