MBO Partenaires and A Plus back Ingertec buyout

The MBO will allow Ingertec to spin off from its current parent company Multitec. Ingertec CEO Gilles Fortuny and several key members of the management team took a stake in the new structure.

Once out of the Multitec perimeter, Ingertec will mainly work towards penetrating the nuclear installations market, with a view to taking advantage of the necessary renovation projects to be implemented for French nuclear facilities.

MBO Partenaires currently invests from its MBO Capital 3 vehicle, which closed on €180m in mid-2010.  A Plus usually makes investments in the €1-5m range, through equity and/or convertible bonds. LCL arranged a debt package to finance the transaction, which also included a contribution from Banque Populaire Provence & Corse.

Company
Established in 2008 and based in Vitrolles, Ingertec specialises in the design, installation and maintenance of electrical installations. It targets the energy sector with a specific focus on nuclear installations.

Ingertec posted a €9m turnover in 2012, up 60% from the previous year. It is aiming to generate revenues of €15m in 2013.

People
Edouard Malandrin and Médéric Gaillard led the deal for MBO Partenaires. A Plus was represented by Jean-Christophe Sampson and Grégoire de Castelnau.

Advisers
Equity – Delsol Avocats, Emmanuel Kaeppelin (Legal); Cabinet Allians (Financial due diligence); Cavaro Conseil, Christian Mergier (Insurance due diligence).
Vendor – PwC Corporate Finance, Antoine Grenier, Geoffroy Pacault (M&A); Landwell, Bruno Thomas, David Bonvarlet (Legal).

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• MBO Partenaires