Ace and CM-CIC in €3.2m round for Socomore

Socomore's management also invested in the round. The fresh funding will notably be used to finance the acquisition of Irish business PT Technologies Europe. The enlarged business will generate €35m in revenues.

CM-CIC had already invested €4m in Socomore in 2011. The GP reportedly contributed €900,000 to this latest round.

Ace Management invested via its Aerofund II vehicle, which closed on €90m in 2008. The aerospace-focused private equity house recently held a first close for its third Aerofund vehicle on €150m.

Company
Founded in 1972, Socomore produces surface treatment and maintenance products used in the aerospace industry. The Vannes-based business employs 130 people and reported a €30m turnover last year, 70% of which was generated outside of France.

People
Xavier Herrmann and Delphine Dinard led the deal for Ace Management. CM-CIC was represented by Badri Ben Grine and François Rouault de la Vigne.

Advisers
Equity – Exelmans, Eric Guedj, Manuel Manas (Financial due diligence); Lamartine Avocats, Fabien Mauvais, Fanny Malgat (Legal).
Company – Cabinet Fidal, Alain Berry (Legal).

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• Topics
• France
• Industrials
• Expansion
• France
• ACE Management
• CM-CIC Capital Finance
• Acquisition finance