Ciclad et al. inject €10m into Alsei

A breakdown of the round was not provided, but unquote" sources confirmed Ciclad provided a little more than half the capital and 123Venture contributed the remainder.

The transaction is split into an equity injection fully supplied by Ciclad and convertible bonds provided by both Ciclad and 123Venture.

The investment is 123Venture's second in Alsei after backing the business with convertible bonds in 2012. The firm, active both in the private equity and real estate space, has also announced a joint venture will be launched with Alsei in parallel with the investment.

The scheme, in which Alsei will hold a minority stake, will see 123Venture inject capital that the former will use for real-estate development transactions.

Company
Founded in 2000, Alsei develops real estate projects including business, logistics and retail parks, warehouses and office space. With headquarters in Paris, the company is active in northern, western and eastern France with additional offices in Mouvaux, Saint-Herblain and Lyon. The developer is believed to employ around 23 professionals and posted more than €60m in revenues in 2013.

People
Partner Stéphane Billon and investor Muriel Fabre led the deal on behalf of Ciclad, while 123Venture was represented by associate director Eric Philippon and project manager Alexandre Blanc-Coppi.

Advisers
Equity – Laval & Associés, Michel Laval (Legal); Bichot & Associés, Mathieu Odet (Legal); Ideact Avocats (Legal).
Company – Aelios Finance (Corporate finance).

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• Topics
• France
• Expansion
• Real estate
• France
• 123Venture