ActoMezz backs MBO for Document Store

According to unquote" sources, Acto Mezz provided junior and senior mezzanine facilities to finance the deal.

The firm invested alongside Document Store CEO Alexandre Lorey, who increased his stake and will control the business after the MBO. Meanwhile, founder Hubert O'Deland re-invested some of his proceeds to retain a minority interest in the company.

Acto Mezz has yet to disclose its contribution, but the firm typically writes €5-45m cheques for French SMEs valued in the €20-150m space.

The investor is ACG Capital's mezzanine-focused arm. The latter bought it alongside fellow Groupama Private Equity fund-of-funds subsidiary Quartilium in early 2013.

With €400m under management, Acto closed its second fund on €210m before the summer and has since backed an MBO for distressed debt specialist NACC with a €17m revolving mezzanine line, and provided another facility for insurer Axelliance to bolt on Immasur in September.

Document Store represents the 11th investment for Acto Mezzanine II, which is more than 50% deployed as of early November, unquote" understands.

Having followed the asset over the past 12 years, Acto was approached as part of a limited auction organised by Guillaume-Olivier Doré, partner at M&A adviser Entrepreneurs Associés.

Debt
The MBO was supported with a senior debt facility supplied by Neuflize OBC.

Company
Founded in 1998, Document Store provides document storage and management services, and sells stationery and IT-related material to approximately 4,500 clients.

Headquartered in Paris, the business is Xerox's main partner in France and services industries such as insurers, legal firms and advertisers. Employing a workforce of almost 60 people, the business generated revenues of €55m in 2014.

People
The work of ActoMezz on the deal was coordinated by managing director Stéphane Bergez, principal Xavier Buisson and senior associate Christine Martinovic. Alexandre Lorey is currently CEO at Document Store.

Advisers
Equity – Cabinet Pinot de Villechenon & Associés, Gilles Roux, Tristan Segonds, Eric Hébras (Legal, tax, environmental due diligence); Néovian Partners, Giovanni di Francesco, Mathieu Boittier (Commercial due diligence); Sefico, Anne-Lise Courault (Financial due diligence).
Management – Entrepreneurs Associés, Guillaume-Olivier Doré (M&A); Cabinet Carler, Bénédict Vidal, Stéphane Blanchard (Legal).

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

• Topics
• France
• Buyouts
• Support services
• France