Omnes invests €9.5m in Capcom OBO

The transaction will see Capcom executive directors Rachid Abdi and Angel Sandoval strengthen their control of the company. Under their leadership, the fibre-optic specialist will look to double operations by 2017.

Omnes stated it was attracted to the deal given Capcom's potential for growth within the telecoms and utilities industries. The GP was approached by SwissLife Banque Privée on behalf of the sellers in early April; the firm put forward its bid in June and sealed the deal in September.

Enterprise value for Capcom remains confidential, but unquote" sources revealed it falls within the €25-50m bracket.

Omnes's €9.5m investment is the third to be financed via its Omnes Croissance 4 fund. Launched in September 2013 with a €180m target, the vehicle held a €82m first close in December 2014 and has currently hit the €120m commitment mark.

Besides Capcom, Omnes Croissance 4 holds portfolio companies Cogepart, a delivery service whose OBO was backed with a €9m investment in February; and Bimedia, a software developer acquired alongside A Plus Finance and Idinvest in September.

Debt
Crédit du Nord, LCL and Caisse d'Epargne together provided a €10m senior debt package in support of the OBO.

Company
Established in 2001, Capcom installs and maintains cable and fibre-optic networks for corporates within the telecoms sector. According to its figures, 1,400 clients and 1 million private homes are serviced on a daily basis. With headquarters in Ivry-sur-Seine, the company employs 382 people and posted a turnover of €50m in 2014.

People
Omnes' work on the deal was led by managing director Benjamin Arm as well as Bertrand Tissot and Rémy Deloffre, respectively a partner and an associate within the GP's mid-cap buyout and growth capital team. Rachid Abdi and Angel Sandoval are executive directors at Capcom.

Advisers
Equity – Gide Loyrette Nouel, Anne Tolila, Paul Jourdan-Nayrac (Legal); Odéris Consulting, Thomas Claverie, Julien Passerat (Corporate finance); PMP, Chrystelle Briantais, Philippe Angoustures, Zakaria Chouaib (Commercial due diligence); Lexton, Evelyne Crantelle, Emmanuelle-Anne Leroy (Legal, tax); ExFi Partners, Emmanuel Parmentier (Environmental due diligence).
Vendor – SwissLife Banque Privée, Alain Kuperty, Caroline Martinez-Devillepoix (Corporate finance); Dentons, Ramin Hariri, Vincent Lacombe, Ludovic Bernet (Legal); PHL & Associés, Stéphanie Garnier (Legal).

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