123 IM, Sigma Gestion back L'Usine

123 IM funds invested €2.2m (in equities and convertible bonds) in co-investment with the Sigma Gestion funds, which invested €1.8m.

123 IM also supported the managers of the business in raising debt of €4m in order to refinance Lagardère's current debt. Lagardère financed the refurbishment operations of the branch of the Saint-Lazare train station.

L'Usine aims to develop new sources of revenue, including via corporate subscriptions and the creation of a training centre.

Lagardère acquired a majority stake in the business in 2015, according to several press reports.

Company
Founded in 2004, L'Usine operates five high-end gyms located in Paris, Geneva and Brussels.

People
123 IM – Pierre Dupuy-Chaignaud (associate director).
L'Usine – Patrick Joly, Patrick Rizzo (directors).

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