Andera exits Star Service in SBO

The transaction sees founder Hervé Street and the management team retain control of the group and partner with a financial consortium made of existing investors Socadif Capital Investissement and BNP Paribas Développement, and MACSF and Vivalto.

Andera invested in the business via Winch Capital 2. This is the 14th sale of the fund, from a portfolio of 17 companies. 

The business acquired TSE, the logistics subsidiary of Biomnis, in 2014, which allowed the health division to grow.

Previous funding
Capzanine, Agregator Capital, Naxicap Partners and BNP Paribas, along with the founder and management, backed the buyout of Star Service in 2010. At the time, the business was known as Star's Service Group.

Three years later, Socadif and Andera acquired minority stakes in the company, while Naxicap, Capzanine and Agregator exited. The transaction saw the management of the company retain a majority stake in the business, while BNP Paribas reinvested. 

Company
Founded in 1987 by Hervé Street, Star Service offers logistics and home delivery services in urban areas. Over the years, the group has diversified its clientele and today serves clients working in food, health and the automotive sectors.

Star Service has more than doubled its turnover in five years and generated €200m in 2018. It has achieved organic growth of more than 15% over the last three years. The business is based in Epinay-sur-Seine.

People 
Star Service – Hervé Street (founder, president).
Socadif Capital Investissement – Thierry Antonini (investment director).
Andera Partners – François-Xavier Mauron, Sylvain Charignon (partners).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• Buyouts
• France
• Industrials
• France
• Andera Partners
• BNP Paribas Développement