21 Centrale buys Oberthur from TCR Capital

A staple financing facility including both senior debt and mezzanine was co-arranged by CIC and LCL, with CIC Mezzanine and Acto Mezzanine providing the mezzanine component. This enabled a swift sale process, according to TCR partner David Robin.

21 Centrale will aim to accelerate the group's organic growth and will also look at bolt-on opportunities, both in France and across Europe.

Previous funding
TCR took a 95% stake in Groupe Ouest Finance, the holding of stationery companies Oberthur and Oller, in 2009. This was TCR's third investment from its €160m Fund III. The acquisition was supported with senior debt provided by CIC, CIO, LCL, Société Générale and BNP Paribas, and mezzanine provided by ActoMezz.

Oberthur has been refinanced twice since then, in April 2011 and June 2012.

Company
Based in Rennes, Oberthur specialises in the manufacture of stationery and school-related supplies.

People
Gérard Pluvinet, Jacques Rossignol, Antoine Vigneron and Muriel Prudent worked on the deal for 21 Centrale. David Robin, Romain Bled and Marianne Harlé represented TCR.

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• Topics
• France
• Buyouts
• Exits
• Consumer
• France
• 21 Centrale Partners
• TCR Capital
• Secondary buyout