Siparex, EMZ back Jacky Perrenot Group

Jacky Perrenot, owner of the eponymous company, will sell his stake in the business. 

Siparex and EMZ are investing on an equal basis in the company, alongside CEO Philippe Givone and several senior executives of the company, according to a statement.

Siparex is investing via its €315m ETI 4 fund, which closed in 2017.

EMZ specialises in private bond financing, usually as part of management-sponsored transactions in which family or management are majority shareholders. The debt provider's latest vehicle, EMZ8, generally invests €10-120m at a time, targeting French SMEs with an enterprise value of €450m on average, and with a strong international presence. In Q1 this year, EMZ was looking to launch its ninth fund.

Siparex and EMZ will help Jacky Perrenot Group pursue its buy-and-build strategy, expand internationally, and provide more environment friendly services.

Debt
Senior debt for the transaction was provided by Crédit Lyonnais, BNP Paribas and Caisse Régionale de Crédit Agricole Mutuel Centre-Est.

Company
The family group Jacky Perrenot, founded in 1945 and based in Saint-Donat, is a road haulage specialist, serving food and speciality distribution companies. The group has recorded a growth of 25% on average per year over the last decade, thanks to the acquisition of around 50 businesses.

The group generates revenues of around €650m and operates a fleet of 7,800 vehicles.

People
Siparex – Florent Lauzet (director).
EMZ – Thierry Raiff (president).
Jacky Perrenot Group – Philippe Givone (CEO).

Advisers
Equity – PwC, Philippe Chavanne, Maxence Pleynet (financial due diligence); EY Parthenon, Vincent Czeszynski, Adrian Bocher (strategic due diligence); De Pardieu Broca Maffei,  Jean-François Pourdieu, Matthieu Candia, Priscilla Van Den Perre, Alexandre Bankowski (legal); Delaby Dorison Avocats, Clément Martin (financial due diligence); Aguera, Laura Mazon (ESG due diligence); Indefi, Emmanuel Parmentier, Charlotte Salmon (ESG due diligence).
Vendor – Rothschild & Co, Pierpaolo Carpinelli, Philippe Dubois de Montreynaud, Baptiste Sander (M&A); Allen & Overy, Marc Castagnede, Romy Richter (legal); Mazars, Pierre Tchertoff, Isabelle Tristan (financial due diligence); Marine Cambolin (tax); EY, Béatrice Delabre, Clotilde Carecchio (ESG due diligence, legal).

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• Topics
• Buyouts
• France
• Industrials
• France
• Siparex