MML backs Tournus Equipement SBO

The GP paid €10m in exchange for a 21% stake, leading a deal that saw minority partners BPI France and UI Gestion contribute. The company's management also reinvested.

Tournus will use the capital injection from the buyout to strengthen and expand its international sales activities. The company may also consider acquisitions in the future.

Qualium acquired Tournus in March 2010. LCL provided debt for the deal in form of A and B tranches of senior debt, according to unquote" data.

Debt
A debt package was provided for the deal by Caisse d'Épargne de Bourgogne Franche-Comté and Banque Populaire Loire et Lyonnais.

Company
Founded in 1910, Tournus employs 200 staff and generated turnover in excess of €40m in 2012. The company is headquartered in Tournus.

Tournus manufactures and distributes stainless steel equipment for catering companies, professional kitchens and food vendors. The company offers a product list of 3,500 items, including industrial dishwashers, catering units, shelving, sterilising and reheating equipment, trolleys and floor drains.

People
Pierre Marcel is the CEO of Tournus. MML managing partner Henry-Louis Merieux and investment director Sebastien Beth led the deal for the firm, with Merieux joining Tournus's board of directors.

UI Gestion managing partner Olivier Jarrousse, associate director François Gressant and associate Edouard Vilmer represented the firm in the deal, while Laurence Gauthier, Jean-Louis Etchegoyhen and Lionel Giai did the same for BPI. Qualium investment director Antoine Emmanuelli and associate Julie Khayat represented the firm in the transaction.

Advisers
Equity – Latournerie Wolfrom & Associés, Christian Wolfrom, Thibault Willaume (Legal); Vaughan Avocats, Gaspard Brulé, Géraud Salabelle, Fabienne Khalifa (Legal); Advention, Alban Neveux, Etienne Pithois, Nicolas Lubeth, Antoine Pineau (Commercial due diligence); ACA, François Mahe, Fabrice Huglin, Nicolas Gaspard (Financial due diligence); CJA, Fabrice Capotosto (Tax).
Management – Fidal, Guy Roulin, Raphael Cottin, Marcelo Mazzilli (Legal); Cedrus, Thibault Ricome, Guillaume Robert (Legal).
Vendor – Reed Smith, Emmanuel Vergnaud, Mickaël Levi (Legal); Grant Thornton, Thierry Dartus, Cyril Doukhan (Financial due diligence).
Debt – Preuilh Vidonne Croizat Huguenin & Associés, Frédéric Huguenin (Legal).

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• Topics
• Buyouts
• France
• Consumer
• Exits
• France
• MML Capital Partners
• UI Gestion
• Secondary buyout