Andera acquires two services companies from Salini

The companies' management teams, led by Stephane Curaudeau, will also participate in the transaction.

The deal is moderately leveraged, with debt provided by a pool of lenders led by Caisse d'Epargne Ile-de-France and CIC Est as co-arrangers.

The deal is the GP's 13th platform investment from its Cabestan Capital II fund, which held a final close in September 2016 on its hard-cap of €165m. The vehicle acquires both minority and majority stakes in companies with a turnover of €10-100m and was 67% deployed at the end of last year. 

The target companies have a combined revenue of €40m and employ 200 staff.

Company
Founded in 1978 and based in Paris, SMRD-Bat92 specialises in the renovation of social housing. The company's services include painting, floor coverings, masonry, electricity, plumbing and carpentry.

Based in Paris, SE2M Services specialises in multi-technical maintenance of commercial property. The company provides services in three main areas – heating, cooling and electricity – and also offers other maintenance and facility management services.

People
SMRD-Bat92 – Stéphane Curaudeau (chairman). 
Andera Partners – David Robin (partner).

Advisers
Equity – Advance Capital (financial due diligence); Indefi (strategic due diligence); McDermott Will & Emery (legal).
Vendor – Invest Corporate Finance (M&A); Alerion (legal).

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• Topics
• Buyouts
• France
• Andera Partners
• Advance Capital
• McDermott Will & Emery
• CIC
• Mid-market buyout