Romus (France) - Dec 2007

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01 December 2007

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As part of a buy-in management buyout, Perfectis Private Equity has acquired a majority stake in Romus, a maker and distributor of specific tools for the construction industry. The deal means an exit for the company’s founder and CIC Investissement Est, which originally invested in 2002. Corporate financier Financière Galliera ran a selection process which reportedly attracted both financial and strategic bidders. Perfectis won the deal by finding a CEO that fit both sellers and the company’s management requirements prior to the selling process. SNVB and Crédit Agricole Ile de France Sud (CAIFS) each provided half of a two-tranche all-senior debt package.

Company

Founded in Champlan more than 30 years ago, Romus designs, manufactures and distributes professional tools for carpeting and wallpaper work, as well as other general carpentry. The company generated €20m in revenues in 2006, 20% of which came from outside France, and hopes this figure will exceed €30m within four years. Organic growth is expected due to increasing demand. There is also a general trend towards specialisation of tools, driven by the need to save time. Acquisitions of companies producing complimentary tools or of suitable distributors will be considered. Romus hopes to expand into Eastern Europe.

People

Stéphane Bergez and Sylvain Campion are in charge of the business for Perfectis Private Equity. Denis Gérard and Olivier Tochon arranged the debt for SNVB, while Raphaël Aubert and Maxine Ganne did so for CAIFS. Bernard Weber is Romusformer CEO. Christian Choupin, formerly a managing director for private equity-backed Rexel, is Romus’ new CEO.

Advisers

Equity - AMR, Denzile Rankine (Other Due Diligence)Equity - Aon Accuracy, Elyse Salzmann (Financial Due Diligence)Equity - Cabinet Verspieren, (Insurance Due Diligence)Equity - Organce, Patick Barbotte (Environmental Due Diligence)Equity - Paul Hastings, Gilles Roux, Olivier Deren (Legal)Management - HPML, Vincent Libaud (Legal)Management - Soulliac, Franz Cabrières (Legal)Vendor - DMMS, Cécile Horréard, Philippe Missika (Legal)Vendor - Financière Galliera, Jean-Claude Labro, Laurent Metzger (Corporate Finance)