BC Partners’ MCS Group bolts-on DSO

The acquisition will create a group with approximately 1,300 employees. On a pro forma basis giving effect to the acquisition as if it had taken place on April 1, 2017, the combined group would have generated gross collections of €117m, cash revenue of €194.2m and cash EBITDA of €92m for the 12 months to 31 March 2018.

As a result of the transaction, MCS expects to realise cost synergies of approximately €3.7m and revenue synergies of approximately €1m, each on a full-year basis, with the full impact expected to be realised in 2021.

MCS, a France-based debt management service founded in 1986, was acquired by BC partners in October 2017. BC Partners took over Cerberus Capital Management, acquiring a 90% stake in the business for a total consideration of €380m, implying a total EV of approximately €400-420m.The fund used for the transaction was BC European Capital X.

Company
Based in Paris, DSO is a debt collection management company focused on debt servicing and debt purchasing. The business generated €67m in revenues and its EBITDA stood at €21m for the 12 months to 31 March 2018.

People
DSO Group – Jean-François Bensahel (CEO).

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• Topics
• Expansion
• France
• Financing
• France
• BC Partners