Capzanine, SGCP back Carrera MBO

Ellie Pullen
12 January 2015

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Capzanine and Societe Generale Capital Partenaires (SGCP) have backed the management buyout of Groupe Carrera, a French electrical renovation firm, from ActoMezz.

Existing backer ActoMezz is selling its participation in Carrera to Capzanine and SGCP.

ActoMezz acquired a minority stake in the company in 2010 alongside management as majority investors.

Capzanine is the company's new majority backer. SGCP has invested both equity and mezzanine in the transaction, becoming a minority shareholder and mezzanine provider to Carrera.

Likewise, Capzanine arranged the senior mezzanine facility for the deal.

SGCP also acted as arranger for the debt package for the deal alongside LCL. Banque Populaire Rives de Paris and Banque Populaire Val de France participated in providing the debt package.

Company
Founded in 1981 and headquartered in Ile-de-France, Carrera is the parent company of commercial and residential electrical renovation division Cesa, social housing electrical renovation unit Perrin, new residential electrical renovation division Meusnier, and European Regional Development Fund riser renovation unit Deletre.

Carrera employs 225 staff and generates around €45m in revenues.

People
Franck Petit is the president of Carrera. Capzanine associate director Benoît Choppin, partner Christophe Karvelis and senior associate Matthieu Lagrée worked on the deal alongside SGCP equity director Marc Diamant and analyst Benjamin Richy. ActoMezz managing director Stéphane Bergez and director Laurent Fichter managed the sale for the firm.

Advisers
Equity – Agilys Avocats, Pierre Jouglard, Baptiste Bellone, Karine Violeau (Legal, tax); Advance Capital, Jonathan Consolo, Thibault Fleury (Financial due diligence); Grant Thornton, Grégory Volpi, Louis-Olivier Martin (Vendor due diligence); Indefi, Julien Berger (Tax).
Management – HPML, Velin Valev, Aurélie Bonsch (Legal).
Vendor – Invest Securities Corporate Finance, Bertrand Le Galcher Baron, Sami Berhouma, Khalil Ben Fredj (Corporate finance); HPML, Velin Valev, Aurélie Bonsch (Legal).
Debt – Hogan Lovells, Sabine Bironneau-Loy (Legal).