EdRip secures 10% stake in Altavia

The French GP is now set to become Altavia's second largest shareholder, aside from the company's founder and current CEO Raphaël Palti.

Meanwhile, the management of Altavia's European and Asian divisions retained around a 25% stake in the business. A number of them also invested to acquire shares from non-operational historic shareholders.

The investment is the fifth made from EdRip's Winch Capital 3 Fund. Launched in September 2013, the vehicle exceeded its €250m target and reached its €300m hard-cap in September 2014, according to unquote" data.

Winch Capital 3 usually deploys €7-25m equity tickets to acquire minority stakes in French and Italian SMEs with turnover between €30-300m.

The vehicle will be also be used by EdRip for its anticipated acquisition of a minority stake in French environmental engineering services provider Groupe Rougnon. The deal, expected to go forward in June, comes after the French house supported the buy-in management buyout of business support service provider Eurogiciel in March 2015.

EdRip was attracted by Altavia's diversified client portfolio, as well as its focus on retail operations and strong worldwide position.

Under the GP's tenure, the company's management will consolidate organic and external growth across the European and Asian markets via targeted acquisitions. In particular, Altavia seeks companies across the marketing and digital sectors in Denmark, the Netherlands, Brazil, Morocco and the Middle East.

In 2013 and 2014, the business completed three purchases, including Paris-based marketing agency Cosmic and Northampton-headquartered retail agency HRG UK.

Company
Founded in 1983 by Raphaël Palti, Altavia Group is a provider of marketing communication services for retailers and chain stores.

Headquartered in Saint-Ouen, the business works with 300 retailers and brands across 25 countries in Europe and Asia. The company posted more than €100m in gross turnover in 2014, an 11.5% uptick compared to the previous year. It employs 1,300 people.

People
Partners Antoine Le Bourgeois and Pierre-Yves Poirier led the deal for EdRip. Raphaël Palti is the founder and CEO of Altavia Group.

Advisers
Equity – Alerion, Pierre Olivier Brouard, Cecile Besson (Legal); Ernst & Young, Stéphane Seguin (Financial due diligence); LEK, David Danon-Boileau (Commercial due diligence).
Management – Cerap Conseils, Thaddée Willart (Corporate finance); Carré & Associés, Jean-François Carré (Legal).

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