Siparex buys minority stake in Nerco

A report from Capital Finance stated that the equity ticket deployed for the deal exceeds €5m. LCL and Crédit Agricole Centre-Est provided senior debt for the acquisition.

The company's managing directors, including Jean Gho and Christophe Picollet, will also take a stake in the business.

The GP will assist the company with its plans to expand internationally and to broaden its presence in France.

Siparex is currently deploying from a number of vehicles, including Siparex Midcap 3, which held a final close in November 2018 on €170m, surpassing its target of €150m. The vehicle targets minority or majority stakes in France-based businesses with revenues of €15-100m, deploying equity tickets of €3-12m.

According to Unquote Data, the GP registered its latest vehicle, Siparex ETI 5, in July 2019. The fund has a target of €500m.

Siparex had not responded to a request for comment at the time of publication.

Company
Nerco provides engineering and architecture services including layout design, project management, environmental certifications and technical studies.

The company reported revenues of €27m in 2019. Founded in 1982, Nerco is headquartered in Lyon and also has offices in Paris and Marseille. It has 100 employees, according to LinkedIn.

People
Nerco – Philippe Nouvel (managing director).
Siparex – Augustin de Jerphanion (partner); Henri Dumas-Marze (mid-cap director); Nicolas Sluys (investment manager).

Advisers
Equity – Advance Capital, Arnaud Vergnole, Thibault Fleury, Benjamin Galichet, Dylan Carry (financial due diligence); Neovian Partners, Patrick Richer, Ghita Oudrhiri (commercial due diligence); Fidal, Stéphanie Prud'Hon, Aurélien André, Samuel Partouche (legal).
Company – Transaction R, Philippe Dubois de Montreynaud, Tancrède Colas, Florian Pierre (corporate finance); Desfilis, Guillaume Giuliani, Marie-Victoire James, Frédéric Bosc, Yann Fouquet-Michel, Jonathan Devillard (legal); Arthaud & Associés, Olivier Arthaud, Cédric Forest (financial due diligence).

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