TCR in SET Environnement MBO

The deal was put together to allow SET's founder to pass the business onto the current management team, backed by TCR.

The GP – currently raising and investing from a small-cap fund that targets French companies typically valued at less than €25m – was attracted by the growth prospects of the asbestos removal market; according to TCR, France is currently lagging in terms of asbestos compliance and SET would benefit from high barriers to entry on the technical and regulatory sides.

The company will now look to develop its business with existing customers, target new markets such as public buildings and bolster its services offering. In the medium term, strategic acquisitions could be considered.

LCL, Banques Populaires Rives de Paris and BNP Paribas provided a senior debt package for the deal while A Plus Finance contributed mezzanine financing.

Company
Founded in 1996, SET specialises in asbestos removal services for commercial and industrial buildings. The company employs 12 people and posted an €18m turnover in 2013.

People
David Robin and Olivier Le Gall led the deal for TCR. Roland Sonnet is the founder of SET.

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• Topics
• Buyouts
• Industrials
• France
• France
• TCR Capital