Eurazeo to buy majority stake in Utac Ceram

The company’s existing investors Fonds de Consolidation et de Développement des Entreprises (FCDE), the Comité des Constructeurs Français d'Automobiles (CCFA) and Utac Ceram’s senior executives and key managers will also reinvest in the business.

Eurazeo is investing via its Eurazeo PME strategy, according to a statement. Eurazeo PME III held a final close in July 2017 on €658m, surpassing its target of €600m. The fund deploys equity tickets of €20-100m, focusing on France-based mid-market businesses with an EV of €50-200m.

Previous funding
FCDE acquired a 70% stake in Utac Ceram for €50m in December 2017 from the CCFA and the company’s management, who retained a minority stake. FCDE contributed €20m from the €200m fund FCDE II, a vehicle managed by BPI France which geneally invests €5-25m in Europe-based companies. The firm also obtained €12m of mezzanine financing from Tikehau Capital and €18m in short- and medium-term financing lines arranged by BNP Paribas.

Company
Utac Ceram provides services for motor transport, including regulation and approval, testing and technical expertise, certification, events and driver training. Based in Paris and founded in 1945, the company has subsidiaries in the UK, the US, Germany, China and Japan, employing 580 staff. Utac Ceram reported 2019 revenues of €83m, compared with revenues of €67m in 2017. The company has a policy of reinvesting 11% of its turnover in its future growth, according to a statement.

People
Utac Ceram – Laurent Benoit (CEO).
Eurazeo – Pierre Meignen (board member).
FCDE – Julien di Marco (partner, executive committee member).

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