Lantana raises €1.6m from Ouest Croissance et al.

According to unquote" sources, the investment is part of Lantana CEO Guillaume de Germay's search for financial sponsors for its buy-and-build strategy.

De Germay, the company's majority owner since 2011, first tested the build-up approach in the Centre-Val de Loire region, where a core subsidiary was set up in Saint-Georges-sur-Cher and bolstered by a cluster of four secondary agencies in the area.

Having expanded the strategy to the Auvergne and Bourgogne regions, the business intends to use the fresh €1.6m to set it up across 15-20 additional French regions within the next 10 years.

The deal is the third to be announced by Ouest Croissance in the space of a week, the earlier two being MBO transactions. First to be backed by the regional investor was professional kitchen equipment seller Creat, now owned by managers Bernard Bak and Arnaud Marie. This was followed by the takeover of Roller Grill by Jean-Pierre Ageorges, its CEO since 1984.

Company
Founded in 1996, Lantana Paysage provides garden construction and maintenance services. Headquartered in Saint-Georges-sur-Cher, near Tours, the business employs 140 people and is targeting €14m in consolidated turnover by 2016.

People
Investment director Damien Jouanneau and managing director Anne Jacquinet-Sulger led the deal on behalf of Ouest Croissance, while Crédit Agricole Régions Investissement was represented by investment director Nicolas Ravachol. Guillaume de Germay is CEO at Lantana Paysage.

Advisers
Equity – Deloitte, Armel Pedron (Corporate finance); Avodire, Nolwenn Hadet (Legal).

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