Piera (France) - Oct 2007

After five months of negotiations, LBO France has acquired a majority stake in real-estate development company Piera. The buyout was sourced through an auction run by Aforge Finance, which attracted both financial and industrial bidders. Calyon arranged the two-tranche debt package, which is worth around 70% of the deal’s total value. No specific exit route is favoured at this stage.

Company

Founded in 1990 and headquartered in Gap, Piera is an independent real-estate developer that is particularly active in the southern half of France, with 11 agencies spread throughout the region. The company posted sales of approximately €200m in 2006 and employs 120 staff. The firm is looking to expand both organically and through acquisitions, notably in Western France.

People

Robert Daussun and Stéphanie Casciola are in charge of the company for LBO France.

Advisers

Equity - Lefevre Pelletier & Associés, Jean-Luc Bédos, Nacime Tobni (Legal)Vendor - Aforge Finance, Louis Huetz, Maxime Bouchard, Valérie Pellereau (Corporate Finance)Vendor - Pons François, Frédérique Pons (Legal)

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• Topics
• France
• Buyouts
• Real estate
• France