Ace Management in €4m round for Ocea

Ace invested via the Atalaya and Financière de Brienne vehicles. The GP has been quite active in recent weeks with five investments done since the beginning of 2013 – these include a €10m equity injection into French parts supplier Duqueine at the end of March.

Traditionally focusing on aerospace, Ace held a first close for its latest vehicle, Aerofund III, on €150m at the end of January. EdRip had previously backed Ocea with growth capital in 2007, according to the investor's website.

The fresh funding comes as Ocea launched a €15m investment program designed to modernise and extend its production infrastructure.

Company
Founded in 1987, Ocea designs and manufactures boats made out of aluminium. Its product range includes coast guard ships, transport ships used in the oil industry, and yachts.

Based in Sables d'Olonne, Ocea employs 240 people and posted a €60m turnover in 2012, 90% of which was generated as exports. The company is aiming to reach a €100m turnover in 2013.

People
Xavier Herrmann and Delphine Dinard led the deal for Ace. EdRip was represented by Pierre-Yves Poirier and Sophie Nordmann-Caetano.

Advisers
Equity (Ace Management) – Lamartine Avocats, Fabien Mauvais, Fanny Malgat (Legal); Exelmans, Eric Guedj, Manuel Manas (Financial due diligence).

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