Elaïs Capital invests in SBD

Launched in 2014, Elaïs acquires minority and majority stakes in French businesses with an enterprise value of €20-100m. The fund is managed on behalf of eight family offices. The deal, which saw Elaïs invest in the form of convertible bonds, marks the GP's second deal, following the acquisition of a majority stake in France Elevateur in 2014.

SBD stated it will now look to extend the care offering of its existing units, open new facilities and acquire additional independent mental health hospitals. The company's founders, Olivier Amourous and Olivier Drevon, are shareholders in the business alongside Elaïs.

Debt
Crédit Agricole Pyrénées Gascogne, Crédit Agricole Aquitaine, Banque Populaire Aquitaine Centre Atlantique and LCL provided a debt package to finance SBD's development.

Company
SBD was founded in 2011 via the acquisition of Clinique Cantegrit. The company then opened two further hospital units and went on to acquire several other clinics to add to the group. It is currently finalising the construction of a new facility at Château de Caradoc in Bayonne, where all its units of the Basque Country will be transferred at the end of 2015.

People
Thibaut de Chassey and Sébastien Beth worked on the deal on behalf of Elaïs.

Advisers
Equity – Marvell Avocats, Jean-Louis Lasseri, Marta de Franciscis (Legal, tax); Grant Thornton, Thierry Dartus, Elodie Lonqueu (Financial due diligence).
Company – Lamy Lexel, Christian Guichard, Caroline David (Legal).
Debt – Franklin Avocats, Olivier Borenstejn (Legal).

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• Topics
• France
• Healthcare
• Expansion
• France