Groupe Pommier (France) - Dec 2007

unquote
01 December 2007

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Crédit Agricole Private Equity has acquired a minority stake in industrial carriage works accessories maker Groupe Pommier. The deal provides a partial exit opportunity for the company’s founders, while management increased its stake. Management and the founders initiated their own selection process, and contacted both French and British private equity firms. LCL led a banking pool comprising BNP Paribas, Natixis and Oséo to underwrite a two-tranche senior debt package described as moderate and a significant uncommitted capex credit, which will help finance a number of acquisitions. A new LBO was cited as a likely exit route, given the young age of the management team.

Company

Based in Saint-Ouen-l’Aumône, Groupe Pommier designs, manufactures and distributes a range of accessories for industrial carriage works. The company generated sales of about €100m in 2007. Pommier hopes to grow by increasing its product offering and by expanding geographically. Acquisitions of companies with complementary, niche product ranges will be pursued in Western Europe, while geographic matches will be sought in Poland, the Czech Republic and other Eastern European countries. The business aims to be in the top three largest in its sector in Germany, Spain and Italy.

People

Eric Rey and Benjamin Arm worked on the transaction for Crédit Agricole Private Equity. Samuel Frugier and Marie-Cécile Jacquet arranged the debt package for LCL, and Pierre-Marie Fourier did so for BNP Paribas. Jean-Patrick Sauvy is Groupe Pommier’s CEO.

Advisers

Equity - Mazars, Cyril Derkenne, Danièle Batude (Financial Due Diligence)Equity - Paul Hastings, Mathias Roth, Olivier Deren (Legal)Management - CJA, Jean-François Burc, Marie-Jeanne Leroy (Legal)

Sourced from: France unquote" 88 (Feb 2008)