Poujaud (France) - Dec 2007

unquote
01 December 2007

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Via its fund Siparex Midcap, Siparex has invested €5m in growth capital in industrial scaffolding specialist Poujaud. The deal, which was sourced privately, gives the private equity firm a significant minority stake in the shareholding structure. The founding family retains the remainder of the equity. The investment will allow the company to increase its development within the following years, prior to the search of an industrial strategic partner for its internationalisation.

Company

Headquartered in Aix-en-Provence, Poujaud is a service company that rents and installs scaffolding for the maintenance or construction of large industrial infrastructures, for clients in the petrochemical, nuclear, naval construction and chemical industries. The group, which operates through its companies Poujaud, Comi Service and Socacen and benefits from dominant market shares in diversified industries, generated revenues of €60m in 2006, with double-digit million euros EBITDA. The group, which has rapidly adhered to recently introduced regulations regarding quality of service and staff qualifications, will aim to grow further both organically and via opportunistic acquisitions. Acquisitions targets will typically be competitors or players in complementary sectors.

People

Benoît Métais, Thierry Candelier and Hubert Roux de Bézieux worked on the deal for Siparex. Régis Havel is Poujaud’s CEO.

Advisers

Equity - Aon Mergers and Acquisitions Group, Patrick Rouit (Insurance Due Diligence)Equity - CW & Associés, Philippe Chassany (Other Due Diligence)Equity - GVGM, (Other Due Diligence)Equity - GVGM, Olivier Arthaud (Financial Due Diligence)

Sourced from: France unquote" 87 (Jan 2008)