UI Gestion and Sofipaca sell Villas Prisme to Amundi et al.

José Rojo
11 February 2016

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French GPs UI Gestion and Sofipaca, the owners of Vitrolles-based residential construction business Villas Prisme, have sold the asset to Amundi PEF and BPI France.

The SBO marks a capital reshuffle for Villas Prisme, where control will be split equally between Amundi, BPI France and the management team.

Villas Prisme managers Marc Vicendone and Jean Marc Sarkissian will be shareholders alongside Amundi and BPI France and retain their roles at the helm of the business.

Under their tenure, the residential construction specialist intends to grow both organically and externally across France, with plans to open new agencies and acquire peers in its segment across the country.

Debt
The takeover was supported with a senior package provided by Crédit Agricole's regional Alpes Provence arm.

Previous funding
The SBO will provide an exit route for previous owners UI Gestion and Sofipaca, which became shareholders via an OBO in April 2008.

At the time, UI Gestion, a SME-focused investor, deployed €3.9m for a 52% stake in the business. Meanwhile, Sofipaca – the investment arm of Credit Agricole's regional offices in the Provence-Alpes-Côte d'Azur region – invested to secure an 8% stake.

Company
Founded in 1972, Villas Prisme is a residential construction business that specialises in villa-style properties in southern France. Headquartered in Vitrolles, near Marseille, the company operates around 10 agencies in the Bouches du Rhône and Var areas.

Employing around 50 staff, the business most recently posted €25m in turnover, reportedly a drop from the €30m reported in 2008.

People
Amundi PEF – Alexandre Flageul (associate director).
BPI France – Marc Atanian (investment manager).
UI Gestion – Michel Déprez (managing partner); Robert Le Roux (general director).
Sofipaca – Michel Pourcelot (investment director).
Villas Prisme – Marc Vicendone (CEO).

Advisers
Equity – BBLM, Fabien de Saint Seine (legal); Deloitte, Anne Marie Martini, Aurélien Hanin (financial due diligence).
Vendor – Dupire Avocat, Patrick Dupire (legal).