
Ixo backs Altereo BIMBO
Ixo Private Equity has acquired a stake in France-based Altereo, a consulting and engineering firm, alongside management and CEO Gilles Brunschwig.
The president and founder, Christian Laplaud, has retained a 65% stake in the business, while 17 managers have equally bought stakes, including newly appointed CEO Gilles Brunschwig, Unquote understands.
Managers have acquired a 20% stake, while the GP now owns 15% of the business, a source familiar with the situation has confirmed to Unquote.
The GP stated that it did not use its latest fund, Ixo 4, to fund the transaction; Ixo 4 closed in January on €200m.
Banks CIC and SMC provided senior debt for the transaction.
Company
Founded in 1980 and based in Venelles, Altereo is a consulting and engineering firm that specialises in water, environmental and public services. The business employs 170 people and generated revenues of €13m in 2018.
People
Altereo – Christian Laplaud (founder, president); Gilles Brunschwig (CEO).
Ixo Private Equity – Nicolas Charleux (managing director); Baptiste Martin-Wurmser (investment director).
Advisers
Equity – PwC (financial due diligence); Deloitte (financial due diligence); PwC Societe d'Avocats (legal); Delta Assurances (insurance due diligence).
Management – LexCase (legal).
Company – Advirtus Corporate Finance (corporate finance).
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Permira to take Ergomed private for GBP 703m
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater