EdRip invests in Erget buyout

EdRip secured a 35% stake in the buyout via its Cabestan Capital small-cap fund, marking the vehicle's 13th transaction. The fund closed on €113m in late 2011 and typically deploys €1-7m in OBOs for profitable French SMEs with turnover in the €10-100m range. Although EdRip declined to comment on deal value, it stated that the investment fit within Cabestan's usual equity sweet spot.

LCL arranged senior debt, joined by Societe Generale and Bred Banque Populaire.

Erget is now aiming to keep up its organic and acquisitive growth strategy, with a view to double in size within five years and expand across Europe.

Company
Established in 1986, Erget is a surveyor and loss adjuster. Having initially focused on appraising technical risks, the group has since expanded to cover liability and property services. Erget employs 50 people and targets clients such as insurance companies, reinsurers, brokers and corporates in the aerospace, nautical and energy sectors, among others.

Erget generates a €12m turnover, 20% of which is generated outside France.

People
Romain Ohayon, Alexandre Foulon and Pierre Cavalier worked on the deal for EdRip.

Advisers
Equity – Oderis Consulting, Jean-Albert Bureau (Financial due diligence); De Pardieu Brocas Maffei, Maxime Dequesne, Anne-Laure Bardou, Marie-Laure Bruneel, Jérôme Mas, Philippe Rozec, Sandrine Azou (Legal).
Management – Dechert, François Hellot, Laurent Kocimski (Legal) ; Christophe Briere (Corporate finance); Eight Advisory, Lionnel Gerard, Jean-Sébastien Rabus (Financial due diligence).

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