iXO Private Equity backs MPS buy-in

Denis Hugounenq acquired a majority stake in the business from founder Michel Plante, who retired. iXO provided €2m of equity in exchange for a minority stake.

Pelletier CCSO, Banque Pouyanne and Crédit Agricole Aquitaine provided debt financing for the transaction.

Company
Established in 1992, MPS designs, distributes and maintains public toilet facilities. Its clients mainly consist of small and medium-sized towns in France. The business generated an €11m turnover in 2011: 75% was derived from the sale of new products or refurbishments, 15% from maintenance contracts and 10% from toilet rentals.

Josse-based MPS employs around 70 staff and posted a €2m EBITDA in 2011.

People
Olivier Athanase and Rémi Cheriaux worked on the deal for iXO.

Advisers
Equity – Fidal, Denis Lalane (Legal); Defrocourt Expertise & Conseil, Eric Defrocourt (Financial due diligence).
Vendor – Louis Fagniez (Legal).

 

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• Buyouts
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• iXO Private Equity