Equistone's Bretèche Industrie buys IsernHäger

Equistone stated it has supported the bolt-on, which was completed shortly before the end of 2014.

The GP bought a majority stake in French food machinery business Groupe Bretèche from Azulis Capital and Unigrains in 2013. Céréa Capital and Bretèche's management team invested alongside Equistone. LCL, CIC, Societe Generale, Palatine, Crédit Agricole and BNP Paribas provided a debt package to support the transaction. Capzanine and Céréa Mezzanine contributed mezzanine financing.

Company
Founded in 1988, Bretèche designs, partly manufactures and installs industrial equipment for the food sector, with a particular focus on bakery, pastry mixing and dairy production. The Nantes-based group generates revenues of approximately €172m and employs 800 people.

Based in Isernhagen, Germany, IsernHäger produces equipment and 'pre-dough' mixes for industrial and artisanal bakeries. It has forecast revenues of €8m for 2015.

People
Guillaume Jacqueau, Arnaud Thomas and Grégoire Schlumberger worked on the deal for Equistone.

Advisers
Equity - PwC, Marcel Barth, Corinna Neumann (Legal, tax, financial & environmental due diligence).
Vendor - Brix, Merz & Partners, Albert Merz (Financial due diligence).

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• Topics
• France
• DACH
• Expansion
• France
• Germany
• Acquisition finance
• Equistone Partners Europe