EdRIP's Chabé buys Service Affaires

EdRIP did not inject any new equity to finance the acquisition, which was partly funded by loans from Oseo, BNP Paribas and Caisses d'Epargne Ile-de-France.

The GP invested €5m in Chabé in June this year, with a view to help the company diversify its activities and expand into new regions.

Founded in 1921, Chabé Limousines specialises in luxury taxi services. Initially focused on the short-term market, it has also expanded into long-term taxi hires. The Nanterre-based firm operates out of Paris, Lyon, Marseille, Cannes, Toulouse, Biarritz and Deauville.

Service Affaires operates in the same sector, but with a particular focus on long-term hires. Chabé Limousines posted a €22m turnover for 2010, while Service Affaires generated revenue of €9.1m.

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