European Capital makes 1.8x on Scaff'holding exit

Scaff'holding's majority shareholder Equistone agreed on a tertiary buyout led by the company's management and supported by minority equity investors TIP Gestion (20%) and Société Générale Partenaires (15%). 

The transaction was valued at around €150m. Majority shareholder Equistone took the decision to sell based on the recent performance of the business.

In April 2007, European Capital invested €7.5m in a mezzanine facility, along with Capzanine, to support the secondary buyout of Scaff'holding by Equistone (then Barclays Private Equity).

European Capital received a €3.1m proceed when Scaff'holding partially repaid the mezzanine facility in October 2011.

Company
Based in Paris, Scaff'holding rents and sells scaffolding and shoring systems. Through its network of local branches, Scaff'holding offers a range of equipment and services specifically targeting safety and regulation compliance.

The company is active in the fields of construction, public works, industry, entertainment and temporary structures for public events.

People
Tristan Parisot and Stephane Legrand are managing directors at European Capital.

Advisers
Equity - Lamartine (Legal).
Vendor - Leonardo & Co (M&A, Financial due diligence); AyacheSalama (Legal).
Company - Irwin Law Firm (Legal).

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