€119m refinancing for PE-backed FPEE

Crédit Agricole CIB, BNP Paribas and Atlantique syndication provided the debt package, which includes a €110m senior element.

Previous funding
AtriA took FPEE private in 2003, in a deal that valued the business at €113m. The private equity house then reinvested in 2009 through a secondary buyout alongside new investors Pragma Capital and Barclays Private Equity, as well as the management team. The auction process saw four bids lodged for the company and the deal valued the company at just under €200m.

Company
Brulon-based FPEE was founded in 1981. The company offers a range of custom-made PVC and aluminium house renovation products including windows, doors, shutters, gates and fences.

FPEE posted a €157m turnover in 2010.

People
Patrick Bertiaux, Sophie Pourquéry and François de Maillard worked on the deal for AtriA. BPE was represented by Stanislas Gaillard and Thierry Lardinois. Christophe Ramoisy and Jean Bernard Idé worked on the transaction for Pragma Capital.

Advisers
Equity - Mayer Brown, Laurent Borey (Legal); HPML, Vincent Libaud, Marie Laure Pichard (Legal); Grant Thornton, Thierry Dartus (Financial due diligence); Advention, Alban Neveu (Commercial due diligence).
Debt - De Pardieu Broca Maffei, Christophe Gaillard, Sébastien Boullier de Branche (Legal).
Company - Fiacre La Batie Hoffman, Bruno Fiacre, Isabelle Cadiou (Legal).

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• Topics
• France
• Now researching
• France
• Refinancing
• Barclays Private Equity
• AtriA Capital Partenaires
• Sparring Capital (formerly Pragma Capital)