Weinberg buys Realease Capital in MBO

Realease president Régis Dodin, general director Cyril Marlaud and members of the management team have retained a substantial minority.

The GP invested via WCP#3, which closed on €295m in July 2018 and targets French companies valued in the €50-200m range. It disclosed Realease Capital is the second investment for the fund.

Previous owner Andera Partners has exited the investment. It had backed Realease since 2015 via its €100m Cabestan Capital fund.

Previous funding
CM-CIC Investissement first backed the business in 2012, in a transaction that saw Realease merge with peer Comiris. At the time, Realease's turnover was €40m turnover and Comiris generated €20m.

Andera backed the owner buyout of Realease in 2015 for a minority stake, investing via its Cabestan Capital fund. The OBO saw CM-CIC exit the investment.

Caisse d'Epargne Ile de France arranged a debt package to finance the transaction, with participation from Bred Banque Populaire and Banque Populaire Rives de Paris. At the time, Realease was aiming to increase its turnover to €100m within four years, up from €60m at the time.

Company
Founded in 1986 and based in Puteaux, Realease is a leasing company specialising in technological assets (IT, telecommunications, audiovisual, medical etc). The business currently generates revenues of around €100m, employing 50 people across nine agencies in France, plus one in Belgium.

People
Realease Capital – Régis Dodin (president); Cyril Marlaud (general director).
Weinberg Capital Partners – Lionel Mestre (partner).

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