UI Gestion et al. in OBO for Jet Freeze

The stake to be held by each of the three firms in the newco remains confidential. Put together, the trio is expected to control a minority interest in Jet Freeze, while the business's four co-founders are to secure a majority shareholding.

Enterprise value for Jet Freeze was not disclosed, but UI Gestion typically seeks companies valued in the €4-100m region.

The investment represents the maiden deal for UI Gestion's FPCI Cap Croissance Enterprises Regionales. Launched in 2014, the €16m regional vehicle writes cheques of up to €2m per deal for companies headquartered in northern France.

Meanwhile, Croissance Nord Pas-de-Calais traditionally deploys up to €1.5m per transaction, whereas Nord Capital Partenaires' latest funds target equity tickets of up to €2.5m.

According to Jet Freeze, the OBO comes after significant growth experienced in the past few years as the company added new transport routes. Following the transaction, the business plans to strengthen its position in its market and is considering setting up additional logistics centres in the Ile-de-France area.

Debt
The transaction was supported with a senior debt package underwritten by BNP Paribas.

Company
Founded in 2007 by four professionals from the controlled-temperature transport sector, Jet Freeze specialises in regular deliveries for local clients such as fast food chains. Its fleet operates from a logistics centre in Boulogne-sur-Mer, where the business is headquartered, and distributes goods to around 20 destinations via six major transport lines.

Also present in the UK and Belgium, the business most recently reported €5m in turnover.

People
UI Gestion's work on the deal was coordinated by managing partner Olivier Jarrousse, partner François Gressant and investment director Antoine Bertin. The transaction was led by François Truffier and Charles François on behalf of Nord Capital Partenaires, while Groupe IRD was represented by investment director Laurent Hau and Gregory Sion.

Advisers
Equity – PwC, Fabrice Marmousez, Renaud Vanelle, Armelle Bellenger (Corporate finance, social due diligence); FCIS, David Sebban (Legal); CJA, Fabrice Capotosto (Tax).
Company – P2C Partners, Pierre Cohen (M&A); Opal'Juris, Stanislas Duhamel (Legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• France
• Buyouts
• Industrials
• France
• UI Gestion