EdRCP backs Artedist in Alpem acquisition

Artedist (formerly Hyper Embal/Valeurdis) wholly acquired Alpem from its chief executive – who will retire following the sale – and two managers who will reinvest in the new business.

EdRCP took a 60% stake in Financière HEVD, the holding company of merged French firms Hyper Embal and Valeurdis, in 2010. The overall value of the MBO was not disclosed, but EdRCP provided close to €10m of equity. This was the fifth investment from the firm's ERLF II fund.

Senior debt was co-led by Société Générale and Crédit du Nord, with the support of Banque Populaire du Nord and LCL. The precise amount was not disclosed but stood at around 3x the companies' consolidated EBITDA.

Company
Artedist specialises in the production of paper and plastic packaging used by food distributors and wholesalers. The group generates a €115m turnover and employs around 150 people.

Reims-based Alpem focuses on the transformation of paper used for packing fresh produce and industrial goods. It generates a turnover of nearly €10m and employs around 35 staff.

People
Sylvie Vergès, Louis-Antoine Roullier and Marie Londero represented EdRCP on the deal. President Alain Flitz represented Artedist.

Advisers
Acquirer – Hoche Avocats, Marie Peyrega (Legal, tax); Constantin Deloitte, Cécile Rémy (Financial due diligence).
Vendors – KPMG, Olivier Villers (Corporate finance); Lorette et Associés, Françoise Fischbach-Reny (Legal).

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• Topics
• France
• Expansion
• Industrials
• France
• EdRCP
• Acquisition finance