EdRIP invests in secondary OBO of Itesa

EdRIP is understood to have secured around a third of Itesa's shares. The transaction was also financed by a senior debt facility – believed to amount to around €5m – arranged by Crédit du Nord, Crédit Agricole Languedoc and Crédit Agricole Alpes Provence. The deal was intermediated by Aforge Finance on behalf of Itesa shareholders.

Previous funding
MBO Partenaires backed the OBO of Itesa in April 2008. The private equity firm acquired a 33% stake via its MBO Capital II fund. Itesa's turnover doubled under its ownership.

Company
Founded in 1978, Marseille-based ITESA is a distributor of electronic security equipment including alarms, access control devices, CCTV, intercoms, gate automation devices, sound systems and fire detection equipment.

The company is set to post an €18m turnover in 2012, up from €7m at the time of the 2008 OBO.

People
Nam Metzger, Alexandre Foulon and Pierre Cavalier led the deal for EdRIP. MBO Partenaires was represented by Edouard Malandrin.

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• Topics
• France
• Buyouts
• Exits
• Industrials
• France
• Andera Partners
• MBO Partenaires
• Secondary buyout