Crédit Mutuel Equity et al. invest €75m in Chausson Matériaux

Irdi Soridec Gestion, BNP Paribas Développement, Grand Sud-Ouest Capital and Idia Capital Investissement also backed the investment.

Idia Capital Investissement invested via LCL Croissance and Crédit Agricole Régions Développement, while Irdi Soridec Gestion deployed equity via its IRDI and IRDI B vehicles.

The capital injection from the new investors amounts to a 10% stake in the business.

The deal marks Chausson Matériaux's fourth growth capital investment, according to a statement.

Chausson Matériaux intends to use the fresh capital to support its external growth and to expand its product offering. The company also plans to develop its online sales.

Previous funding
In April 2011, BNP Paribas led a funding round for Chausson Matériaux, with participation from Crédit Mutuel Equity, Ixo Private Equity and Irdi Midi-Pyrénées. The investors took a minority stake of 11.2% in the company, investing €29m.

Following the growth investment, the company acquired the 35% stake in the business held by Irelandbased CRH, which had invested in 2008.

BNP Paribas, CIC Sud-Ouest, CRCA Mutuel Toulouse 31, LCL and Societe Generale provided senior debt to supplement the equity investment.

Company
Based in Saint-Alban, Chausson Matériaux sells building materials and tools for construction projects, including insulation, roofing, joinery, plastering and masonry. The company serves 3,650 industry clients and has 34 sites. Chausson Matériaux also produces building materials including concrete blocks and wooden frames.

Chausson Matériaux reports revenues of €924m and employs 3,850 people. It reported revenues of €620m and employed 2,700 staff at the time of the company's first growth investment in 2011.

People
Chausson Matériaux – Pierre-Georges Chausson (president).
Crédit Mutuel Equity – Alexandre Joubert, Antoine Arlet, Florent Lecomte (investment director).
Idia Capital Investissement – Cédric Fontaine (investment director); François Lecourt (analyst).
Grand Sud-Ouest Capital – Laurent Mazard (investment director); Frank Stéphan (general director).
BNP Paribas Développement – Christophe Plaud, Emmanuel Del Agua (investment directors); Julien Lemaire (analyst).
Irdi Soridec Gestion – Marc Brès-Pintat (investment director).

Advisers
Equity – Allen & Overy, Marc Casatagnède, Timothé Drezet (legal); PwC, Philippe Serzec, Guillem Filhol, Thomas Bortoli, Nicolas Blais (financial, IT & ESG due diligence, tax).
Company – Ayache Salama, Olivier Tordjman (legal).

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• Topics
• Expansion
• France
• Industrials
• France
• BNP Paribas Développement
• Credit Mutuel Equity (ex CM-CIC Investissement)
• L'IRDI