People & Baby (France) - Nov 2007

Développement & Partenariat (D&P) has invested €3m in kindergarten management company People & Baby, in return for 20% of the business. Management retains the remaining 80%. The deal was sourced through independent intermediary Alain Emé, who contacted several private equity firms. An owner buyout is considered the likeliest exit route at this stage.

Company

Paris-headquartered People & Baby runs kindergartens on behalf of companies and local authorities. The firm negotiates five- to 10-year contracts for existing kindergartens and benefits from state subsidies for the opening of new facilities. The company generated revenues of €2.5m in 2006 and will reach €7m in 2007, thanks to the opening of 14 new kindergartens. A projection of €12m has been suggested for 2008. Founded in 2004, People & Baby now employs between 200-250 people.

People

Guillaume Loth Demay and Jérémie Surchamps worked on this transaction for Développement & Partenariat. Christophe Durieux and Odile Broglin head People & Baby.

Advisers

Equity - Groupe Exelmans, Olivier Cattan, Stéphane Dahan (Financial Due Diligence)Equity - Lamartine Conseil, Fabien Mauvais, Olivier Renault (Legal)Management - Alain Emé, (Corporate Finance)Management - Jones Day, Arnaud Vanbremeersch (Legal)

Sourced from: France unquote" 88 (Feb 2008)

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