Siparex invests €5m in Lacoste OBO

The GP invested via its Siparex Midcap 2 fund, which launched in March 2011 and held a final close in June 2012 on €130m.

The Lacoste family has retained its majority stake in the company. The deal was engineered to facilitate a succession change in the company's management team.

Debt
A senior debt package for the deal has been arranged by CIC, with participation from LCL and BNP.

Company
Founded in 2003 and headquartered in Le Thor, Lacoste is a supplier of office furniture and school equipment and products.

The company stocks several brands, including Pritt, HP, Canon, Bic and uni-ball. Lacoste generated €33m in revenues last year. It employs 170 staff.

People
Jean-Daniel Lacoste is the president of Lacoste. He worked on the deal alongside Fabrice, Isabelle and Laurent Lacoste.

Siparex management board member Benoît Métais, senior investment manager Romain Boisson de Chazournes and senior associate Thibaud de Portzamparc worked on the deal for the firm.

Advisers
Equity – Cabinet Cuvellier, Myriam Cuvellier (Legal, tax); BBLM Avocats, Fabien de Saint-Seine, Bernard Dumas (Legal, tax); Grant Thornton, Olivier Mortier (Financial due diligence).
Company – CM-CIC Corporate Advisory, Christophe Kamel, Sophie Sargentini (M&A); Axten, Clyve Monfredo, Christophe Lestringant (Legal, tax).

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