CAPE backs SIMP MBI

The GP invested via the LCL Régions Développement and CAPE Régions Expansions small-cap funds. Both vehicles closed in 2006 on €40m – they each invest €1-5m tickets in businesses valued in the €5-30m range.

Newcomer Alain Blondel took a stake in SIMP and will act as president following the buyout. He teamed up with current commercial director Eric de Bardonnèche.

SIMP plans to develop its international clients base going forward. It will also focus its efforts on R&D for both cosmetic products and precision parts used in niche industries.

Debt
LCL Direction Entreprises IDF EST and BNP Paribas provided senior debt for this transaction.

Company
Founded in 1949, SIMP specialises in the design and manufacture of small rubber- and plastic-based parts, primarily used in the cosmetics industry. The Draveil-based business posted a €7.4m turnover and €2m EBITDA in 2010; it employs 21 staff.

People
Laurent Espic and Bertrand Dupray led the deal for CAPE.

Advisers
Equity – Reinhart Marville Torre, Philippe Torre, Matthieu Laval, Rémy Brasseur (Legal); BM&S, Bruno Bizalion, Sandrine Mahe (Commercial due diligence); Poulin Retout & Associés, Jean-Paul Retout (Financial due diligence); Verspieren, Emilie Thurlure, Olivier Richard, Hervé Duquesnoy (Insurance due diligence).
Vendor – B&M Avocats, Sylvie Brenner (Legal).
Management – Dikaios, Marielle Poisson (Legal).

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• Crédit Agricole Private Equity
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