IK Partners backs Recocash SBO

The deal, sourced via a limited auction, has a valuation in the €25-50m range, Unquote has learned. 

LGT Capital Partners has provided unitranche financing for the transaction.

The transaction will represent the second investment in France for the IK Small Cap II Fund, a vehicle that closed on €550m in Q3 2018. The fund typically backs businesses with an enterprise value of maximum €100m across the DACH region, the Nordic countries, France and Benelux.   

IK declined to comment on the transaction. 

Company
Since 1971, Recocash provides debt servicing, addressing both B2B and B2C debt claims. Recocash offers a full range of debt collection services from software to servicing for a diversified client base.

The business generates a turnover of circa €15m, Unquote understands. It employs 150 people at two sites in Rambouillet and Lyon. On an annual basis, the company handles 500,000 debt claims, helping clients to optimise their payment cycles and improve cash-flow.  

People
IK Investment Partners – Pierre Gallix (partner).
Verdoso – Vincent Fahmy (partner).
Recocash – Hatime Ouali (CEO).

Advisers
Equity – Bryan Garnier, Stanislas de Gmeline, Jonathan Bohbot (M&A); Volt, Emmanuel Vergnaud, Alexandre Tron, François-Joseph Brix (legal); PwC, Romain Godard, Martin Naquet-Radiguet, Céline Appel, François Bourrelier, Marc-Olivier Roux, Jérôme Gertler, Bernard Borrely (strategic due diligence, financial due diligence, legal).
Company – Rothschild Transaction R, Pierre Sader, Philippe de Montreynaud, Romain Golven, Pierre Brencklé (M&A); Paul Hastings, Etienne Mathey, Antoine Ricol (legal); Cazals Manzo Pichot, Romain Pichot (legal); Next !, Hervé Krissi (financial due diligence).

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