Trajan Capital backs Thomas Plants MBI

The transaction sees Nicolas Paul take the helm of the business and buy a minority stake in the company. 

Trajan has invested alongside Cèdre Private Equity, Halisol Groupe and Entheos Investissement, as well as high-net-worth individuals. 

The founding partners of Trajan have personally invested in Thomas Plants. The aim is to put in practice their investment strategy before approaching LPs to raise their maiden fund, Unquote has learned. 

The GP is planning to start fundraising in the summer and hold a final close for its maiden vehicle by the end of the year, Unquote has learned. The first-time fund has a €100m target and €120m hard-cap.    

Founded in 2018 by Thomas Duteil and Tanguy Tauzinat, Trajan specialises in the capital and managerial transmission of French SMEs via MBI transactions. The French GP invests tickets of €5-15m in French SMEs, mainly via majority acquisitions.

Both Thomas Duteil and Tanguy Tauzinat previously worked at Andera Partners.

Debt for the transaction was provided by Crédit Agricole des Côtes d'Armor, CIC Ouest, Banque Populaire Grand Ouest, Caisse d'Epargne Bretagne Pays de Loire.

Company
The Thomas Plants group is a family-owned company specialised in the production of organic vegetables. Founded in 1979 by the Thomas family and based in Ploubazlanec, the group generates a turnover of almost €20m and has delivered around 180 million plants to 1,000 customers in 2018, according to a statement by the GP.

The company has production sites in Ploubazlanec and Tarascon.

People
Thomas Plants – Jean-Yves Thomas (CEO).
Trajan Capital – Thomas Duteil, Tanguy Tauzinat (founders).

Advisers
Equity – Squire Patton Boggs, Charles Fabry, Dorothée Chautard, Véronique Collin, Cristelle Devergies-Bouron (legal);  Keels Avocats, Laurent Partouche, Adélie Louvigne (tax); Oderis, Julien Passerat, Eddy Chague (financial due diligence)
Company – Acticam, Pierre Bourahla, Jeremy Piffeteau (M&A); Bertrand Le Bastard (legal).

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