Portefeuille

Capzanine 4
http://www.marle.fr/fr/
Manufacturer of orthopaedic prosthetics
2016 sales 81m
Unitranche July 2017

Marle is a CMO (Contract Manufacturing Organization), specialized in the production of orthopaedic implants, mainly hips and knees , and to a lesser extent, shoulders, ankles, elbows and spinal implants. The group also produces medical instruments.

  • Chairman: Antonio Gil
  • Nature of the deal: Unitranche
  • Date of investment: July 2017

Established in 1964, Marle is among the top three players in the world (largest European player) in hip prostheses and 11% in knee prostheses manufacturing. Marle is headquartered in Nogent and owns 6 production sites in France and 1 in Switzerland. It has the capacity to supply small quantities of a large number of stock references.

In this transaction, Capzanine provided an unitranche financing.

Capzanine 4
http://www.elivie.fr/
Provider of home healthcare services
2016 sales 144 M
Unitranche July 2017

Elivie (ex IPS) is a provider of home healthcare services, specialising in medical equipment that is specific to respiratory illnesses, insulin therapy and perfusion.
With a diversified base of 9,000 prescribers and a network of some 60 agencies and distributed throughout the country, Elivie has established itself as the 3rd player in the hospitalization market in home.

  • Chairman: Larbi Hamidi
  • Nature of the transaction: Unitranche
  • Date of the investment: July 2017

 

 

Capzanine 4
http://www.intech-medical.com/
Worldwilde leader in orthopedic surgical instruments
2016 sales 55 M
Unitranche July 2017

In’Tech Medical develops and manufactures orthopedic surgical instruments, used by surgeons in order to implement implants inside the patient’s body. The products are spread between spine instruments, knee instruments, shoulder instruments and other products.

  • Chairman: Jean-Luc Malpièce
  • Nature of the deal: Unitranche
  • Date of investment: July 2017

Headquartered in Pas-de-Calais, with subsidiaries in Toulon, the USA and Malaysia, In’Tech Medical was established in 1999 as a carve-out from Medtronics. The group employs c. 500 persons.

In’Tech’s main end markets are the US and France, even though the instruments are then re-exported all over the world by In’Tech’s clients who serve a worldwide population of surgeons. In’Tech is an ‘Approved supplier’ for all the main OEMs (Medtronic, Depuy, Stryker, Zimmer Biomet, Nuvasive) and the first supplier of most of the main players (Stryker Spine, Zimmer Biomet Spine, Nuvasive).

Capzanine 4
http://www.nexeya.com
Electronics products and services
2016 sales 123 M
Unitranche July 2017

Nexeya is a French specialist of electronical engineering. It designs and manufactures value added electronical systems and sub-systems (power convertors, tests benches for planes…) for “critical” applications (for which the failure rate should not exceed 10-9) in various industries (aeronautics, spatial, energy…). Thanks to a strong track-record and long term relationships with the main actors of the market, Nexeya has developed strong know-how and expertise on very technical and specific products.

  • Chairman: Jean-Yves Rivière
  • Nature of the deal: Unitranche
  • Date of investment: July 2017

The Group runs 3 manufacturing sites in France and 2 abroad (Canada and Germany) and distributes its products globally.
Founded in 1997, the Group employs more than 950 people.

Capzanine 4
http://www.entrepose-echafaudages.com/
French leader in scaffolding and shoring equipment rental to firms.
2016 sales 94M
Unitranche July 2017

Scaff’Holding designs and manufactures scaffoldings, shoring systems and staircases which are leased or sold, through two brands, Entrepose and Mills. Established in 2002 from a carve-out from Suez, Scaff’Holding employs c. 500 people and owns two productions sites in France. The group has a large and diversified customer base and operates primarily in construction, industry and events sector in France.

  • Chairman: Anne-Marie Lambilliotte
  • Nature of the deal: Unitranche
  • Date of reinvestment: July 2017
Capzanine 4
http://www.smile.fr/
Leading integrator and outsourcer of open source solutions
2016 sales 75 M
Unitranche May 2017

Smile is Europe’s largest Open Source (OS) software integration and maintenance specialist, providing IT services mainly integration of sales, maintenance, hosting to its clients to address their digital transformation process. The Group employs 1,000 people and has an international footprint with 17 agencies o/w 15 are located in France, Benelux, Switzerland, Netherlands and 2 in Morocco and Ukraine.

  • Chairman: Marc Palazon
  • Nature of the deal: Unitranche
  • Date of the first investment: May 2017

Capzanine will support the development of Smile, alongside its new shareholder. In this transaction, Capzanine provides a unitranche financing.

Capzanine 4
http://www.novomedgroup.com/
Specialist French supplier of disposable medical devices
2016 sales 54m
Sponsorless May 2017

Founded in 1993 by brothers Hervé and Didier Liebermann, Novomed manufactures and distributes disposable medical devices mainly to hospitals and clinics. The group has grown through innovation in its product range (via the development of medical kits) and by developing direct sales to independent medical practitioners, including gynaecologists, dermatologists and plastic surgeons.

  • Chairman: Hervé Liebermann
  • Nature of the deal: Sponsorless
  • Date of the first investment: May 2017

The acquisition of Mediq France, which has over 60,000 independent medical practitioners in its customer portfolio (GPs, physiotherapists, heart specialists and ENT specialists) and excellent knowledge of online retailing, is in keeping with the group’s growth strategy. In addition to the complementary strengths of the two entities, the rationale for the merger is also to achieve a critical mass with combined annual sales of 60 million euros.

The transaction was financed by senior and junior mezzanine debt arranged by Capzanine and through senior debt provided by BPI France and a bank pool.

Capzanine 4
http://fitnesspark.fr/
Ftness Clubs
2016 sales 36m
MBO May 2017

Launched in the Eighties and taken over in 2015 by Philippe Herbette, the Moving group currently encompasses over 180 fitness clubs and more than 400,000 members, who attend 21 directly-operated clubs (located in major cities) and 162 clubs operated under franchise (mainly in provincial areas).

The Moving group is underpinned by its hugely successful “Fitness Park” concept. “Fitness Park” are low-cost, large-scale (covering from 1000 to 3000 square metres) fitness clubs offering long opening hours (6 a.m. -11 p.m., seven days a week) and top-end equipment.

  • Président : Philippe Herbette
  • Nature de l'opération : MBO
  • Date de l'investissement : Mai 2017

With the arrival of Capzanine as a shareholder, and led by Philippe Herbette, Moving is aiming to step up its growth, to rapidly establish very strong positions and to develop the loyalty of its membership base by strengthening its digital strategy.

In this operation, Capzanine also provides Mezzanine financing.

Capzanine 4
http://www.e-h.fr/
A new-build property developer active in the residential segment
2017 sales 241 M
LBO 4 April 2017

Founded in 1973, European Homes operates in new-build housing development, including the development of private housing estates, intermediate housing, apartment buildings and to a lesser extent, serviced plots. The group has a well-balanced customer base consisting of owner occupiers, social landlords and individual private investors, and is one of France’s very few independent nationwide property developers. It reported sales of 241 million euros in 2016 and has an annual output of more than 1,500 homes. The group is based in Paris and employs 331 people.

  • Chairman: Marie-Laure Pochon
  • Nature of the deal: Unitranche
  • Date of investment: March 2016

European Homes has been supported by various financial partners since 2000 and has a top-quality management team. It has seen steady growth of about 8% a year for the last fifteen years, absorbing market cycles much better than its peers. Keen to forge ahead with its ambitious growth plans, the company opened up its capital to a number of new financial partners. In April 2017, Capzanine took part in the transaction. Thanks to this support, the company will be able to move into a new phase of growth. The management team especially intends to step up development in the multi-dwelling housing segment in high-density urban areas such as the Ile de France region.

Capzanine 4
http://www.geo-media.com/
Software company in the topography and infrastructure project design field
2016 sales 18m
LBO 3 March 2017

The Geomedia group is based in Brest and was founded in 1993. It develops and markets software to meet the design and land and infrastructure modelling requirements of the different players in the building and public works sector (surveyors, architects, design offices, construction companies, government bodies and local authorities). The group is also one of France’s leading distributors of solutions developed by the Autodesk software firm.

  • Chairman: David Le Roux
  • Nature of the deal: LBO 3
  • Date of investment: March 2017

The group is active in foreign markets (Canada, Belgium, Switzerland, Hungary and North Africa) and has become a key player in its niche market. A sustained strategy of investment in R&D has led to the Geomedia group being widely recognised for the high quality of its feature-rich software. It has successfully kept pace with the latest market developments, such as the integration of new dynamic data capture technologies (MMS, scanners and drones), and the emergence of BIM (Building Information Modelling).

With the arrival of Capzanine as a shareholder and under the leadership of its new head David Le Roux, Geomedia is moving into a new phase of development. The group is keen to strengthen its range of software, diversify into new market segments and step up its international expansion.

Capzanine 3
http://www.pierreguerin.fr
Design and manufacture of stainles steel vats and associated systems
2016 sales 74m
Growth Capital January 2017

Founded in 1949, the Pierre Guerin group manufactures stainless steel equipment and process lines (tanks, vats and related systems) for the agri-food and healthcare (pharmaceutical and bio-pharmaceutical) industries, such as stainless steel tanks, industrial fermentation tanks, wine tanks, cheese vats, mixer cookers, bioreactors, CIP systems and other innovative industrial products.

  • Chairman: Jean-Christophe Piétri
  • Nature of the transaction: Growth Capital
  • Date of the investment: January 2017

With locations in France, Spain, China and the USA, the group exports worldwide and generates more than 60% of its sales outside France. It is widely recognised for its knowledge and expertise, industrial excellence and high-quality engineering, and has enjoyed steady and particularly sustained growth. In just five years, Pierre Guerin has become a leading global player across the life sciences sector and has a market share of around 15%.

 

 

Capzanine 3
http://www.groupe-eduservices.fr
Private higher and technical education groups
2016 sales 92 M
OBO December 2016

Founded in 2010 by Philippe Grassaud, Eduservices, which serves 17,500 students, operates the leading network of training courses, with fifteen schools spread over 46 establishments. Eduservices operates on a network basis and brings together a set of skills, competencies and resources to serve the schools’ needs (R&D, certifications, partnership ecosystem and even training academies for employees).

  • Chairman: Philippe Grassaud
  • Nature of the deal: OBO
  • Date of investment: December 2016

The transaction marks the exit of the Duke Street fund, which had been the majority shareholder since 2010, and gives control of the group back to the Grassaud family. Under the deal, Capzanine takes a minority stake of forty-five percent and arranges senior mezzanine financing. Capzanine will therefore be in a position to support the actions of the management team and the Grassaud family as they seek to build up the group’s offering. The main goals are to grow the schools that already exist in France and internationally, to enhance awareness of the group’s brands, to integrate build-up opportunities and to promote a culture of educational entrepreneurship.

Capzanine 3
http://www.soccerpark.fr/
Football Pitches
2016 sales 13M
Growth Capital April 2016

Soccer Park was founded in 2010 by Guillaume Debelmas and Tony Jalinier and has seen rapid growth, mainly in provincial France. The company is the third largest network of five-a-side football facilities in France. Soccer Park is positioned as a high quality brand and has a strong identity and an innovative marketing and digital strategy.

Le Five FC was founded in 2008 by Joseph Vieville. It has developed its network via a historical presence in the Ile de France region and strong expansion across provincial France driven by franchising. It also recently moved into the Spanish market. Le Five FC sets the standard for five-a-side football in France and currently has a total of 26 complexes.

  • Chairman: Tony Jalinier
  • Nature of the transaction: Growth Capital
  • Date of investment: April 2016

The newly-formed business will consolidate the advantages brought by the two networks while developing an ambitious growth plan for the coming years, which will include the opening of new centres as well as the acquisition of independent operators. Both the Soccer Park and Le Five FC brand names will continue to live alongside one another and to promote the strong values they share, namely fair play, respect and constant innovation.