UI Gestion backs Daco France SBO

The transaction sees Bee Up Capital (previously known as Industries & Finances) – a backer of Daco since 2012 – sell its majority stake in the company. Under the GP's ownership, the group's revenues grew from €60m to €100m, according to a statement by Bee Up. 

The deal sees Daco France valued at €25m, Unquote understands. 

Directors Alain and Michel Abitbol have retained stakes in the company. The group intends to expand internationally.

UI Gestion has invested via its mid-market vehicle Cap 6, which closed on €105m in Q1 2019. The fund backs businesses related to healthcare and agriculture with enterprise values in the €15-75m range, providing tickets of €3-10m, the sweet spot being €5-10m. A third of the fund is currently deployed, according to a source close to the situation. 

The transaction was supported by senior debt from LCL, Societe Generale, BNP Paribas and Crédit Agricole. The equity debt ratio of the SBO is around 60:40. 

UI Gestion has declined to comment on the deal, while Bee Up was not available for comment at the time of publication. 

Company
Founded in 1974 and based in Antony, Daco France imports and distributes dried fruits. The business employs around 150 people, according to a person familiar with the situation. The company generated revenues of around €100m in 2017, according to Capital Finance. 

People
Bee Up Capital – Edouard Thomazeau (managing partner).
Ui Gestion – François Gressant (managing partner).

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

• Topics
• Buyouts
• Exits
• France
• Consumer
• France
• UI Gestion
• Bee Up Capital (formerly Industries & Finances Partenaires)