Initiative & Finance acquires Fil Rouge in BIMBO

The company's current managers took a stake in the buyout and were joined by entrepreneur Alexandre Georgeault, which will take the group's reins as president.

CIC, Société Générale and Neuflize OBC reportedly provided a debt package to finance the acquisition, based on a 45% leverage ratio.

I&F closed its latest generalist small-cap vehicle on a €140m hard-cap in May last year. The firm set out to raise the fund as it gained independence from the Natixis group via a management buyout in October 2010.

Company
Established in 2000, Fil Rouge specialises in point-of-sale merchandising and advertising, with a particular focus on small local businesses such as pharmacies, tobacconists and phone shops.

The group posted a €10m turnover in 2011 and employs 45 people. Its revenues have been growing by 30% year-on-year on average since 2006.

People
Matthieu Douchet and Marc Dagousset led the deal for I&F.

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• Small-cap buyout