Société des Crématoriums de France (France) - Nov 2007

CIC has invested €5.5m, 40% of which is in convertible bonds, in exchange for a quarter of the equity of Société des Crématoriums de France (SCF). The balance is held by the company’s CEO and an associate. CIC Finance outdid two rival bidders on the shortlist after an auction run by Sodica. A new round of growth capital funding is cited as the logical exit route at this stage.

Company

Established in 1995 in Bailleul, SCF manages 12 of France’s 85 crematoriums, generating a 2007 turnover of €5.9m and around 6% EBIT margin for 10,000 cases. The business, which currently employs around 35 staff, intends to explore acquisition opportunities in France and abroad.

People

Xavier Blain and Amaury Leleu worked on the deal for CIC Finance.

Advisers

Equity - Ernst & Young, Daniel Coliche (Financial Due Diligence)Equity - Lamartine Conseil, Fabien Mauvais, Olivier Renault (Legal)Management - Sodica, Franck Pigache, Johann Navarro (Corporate Finance)Management - Thémis, Xavier Roguet (Legal)

Sourced from: France unquote" 88 (Feb 2008)

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• Expansion
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• France