Siparex takes 25% stake in Vulcain

Siparex invested via the FCPR Siparex Midcap II fund, which closed on €120m in 2011. The vehicle usually invests €2.5-10m per transaction in businesses valued in the €10-40m range.

CM-CIC Capital Finance, which backed a previous buyout of the business in 2007, fully exited Vulcain. The company's president Gérard Comte retains a majority stake, while the rest of the management team increased their shareholding as part of the OBO.

Debt
Société Générale, CIC Nord Ouest, Neuflize OBC and Arkéa provided senior debt to finance the transaction.

Company
Based in Grigny, near Paris, Vulcain specialises in building materials and fixtures – mainly metal-based – including doors, windows and locks.

The company employs nearly 180 staff and expects to post a €50m turnover this year – up from €32m in 2006.

People
Pierre Bordeaux-Montrieux and Augustin de Jerphanion worked on the deal for Siparex. Xavier Blain and Amaury Leleu represented CM-CIC.

Advisers
Equity – Advance Capital, Arnaud Vergnole (Financial due diligence); Ratheaux, Gaétan de La Bourdonnaye (Legal).
Vendor – UBS, Arnaud Fauqueur, Karine Houtmann, Julien Donarier (Corporate finance); Delsol Avocats, Frédérique Milotic, Henri-Louis Delsol (Legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• France
• Buyouts
• Industrials
• Exits
• France
• Siparex
• CM-CIC Capital Finance
• Secondary buyout