Omnes invests €11m in Dispam OBO

Dispam's enterprise value remains confidential, but Omnes's mid-cap buyout and growth capital arm, used by the GP to finance the operation, seeks companies valued in the €25-180m space.

The OBO will see Dispam's ownership move away from its family owners to chairperson Pascal Masse. Under his leadership, the business intends to continue its recent expansion across France. With operations in its Provence-Alpes-Côte d'Azur base and the Normandy, Nord and Ile-de-France regions, the company will soon set up shop in Arras.

The deal is the fourth to be financed via the Omnes Croissance 4 fund so far in 2015. Launched with a €180m target in late 2013, the vehicle held a €82m first close in December 2014, when a €70m commitment was secured from former parent Crédit Agricole.

Prior to Dispam, the fund was used during the OBOs of delivery service Cogepart and fibre-optic specialist Capcom, where Omnes invested €9m and €9.5m respectively, and the MBO of retail-focused software developer Bimedia.

Omnes, which recently hired three and promoted two in a wave of appointments, has been active on the sell-side as well. Earlier this week, the firm joined fellow shareholder Parquest as they divested private clinic operator Vivalto Santé to a group of investors led by CDC International.

Debt
Dispam's OBO was supported with a debt facility provided by LCL and Caisse Epargne.

Company
Founded in 1971, Dispam specialises in the temperature-controlled transportation of fresh food and other cargo. It also provides storage and warehousing services.

Headquartered in Le Pontet, in the Provence-Alpes-Côte d'Azur region, the business is also present in Normandy, Paris and Nord-Pas-de-Calais and claims to process 350,000 tonnes of goods on an annual basis.

Employing 680 staff, the transporter posted €64m in turnover in 2014, 60% of which came via its food provider clients and 30% from mass distributors.

People
Omnes was represented by Bertrand Tissot and Rémy Deloffre, respectively partner and associate at the firm's mid-cap buyout and growth capital arm. Pascal Masse is Dispam's current chairperson.

Advisers
Equity – Paul Hastings, Olivier Deren, Charlotte Dupont, Allard de Waal, Thomas Pulcini, Pierre Kirch (Legal); Accuracy, Nicolas Barsalou, Pierre-Olivier Mintrone (Corporate finance); LEK, Serge Hovsepian, David Danon-Boileau (Commercial due diligence); ExFi Partners, Emmanuel Parmentier (Environmental due diligence).
Vendor – UBS, Jérôme Pin, Renaud Tochon, Julien Donarier (Corporate finance); SVA, Christophe Febvre (Legal).
Company – Paul Hastings, Mounir Letayf, Camille Bakouch (Legal).

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• Topics
• France
• Buyouts
• Industrials
• France
• Omnes Capital
• Owner buyout