Consortium acquires Delta Recyclage

Demeter Partners joined previous investors Soridec, CM-CIC Investissement and Amundi Private Equity in a deal that involves some leverage.

As part of the transaction, founder Raymond Delmas will stand down as managing director and chairman, handing control of the company to Pascal Rostoll, who also reinvested in the firm.

Debt
CIC Sud-Ouest reportedly provided a 1x EBITDA senior debt package to finance the transaction.

Company
Founded in 1986 and based in Lansargues, Delta Recyclage provides collection, sorting, and recycling of common industrial and domestic waste. The firm has four sorting centres that treat more than 300,000 tonnes of waste every year. Delta employs 160 members of staff and reported a €41m turnover in 2011.

People
Lionel Cormier and Jean-Charles Scatena worked on the deal for Demeter. Frederic Exshaw led the transaction for Amundi. Francois Rouault de la Vigne and Eve Basse Cathainat represented CM-CIC, while Marc Delattre represented Soridec. Maud le Herissier worked on the deal for Etoile ID.

Advisers
Equity – Lamartine Conseil, Olivier Renault, Gary Levy (Legal); Grant Thornton, Thierry Dartus, Zakariyae El Qotni (Financial due diligence); Burgeap, Veronique Allport (Environmental due diligence); ACP, Eric Remus, Stephanie Bournoville (Insurance due diligence).

 

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