Deals in Focus

Deals in Focus | France 2nd March 2020
2nd March 2020 Atheneum Team
2nd March 2020

Key Atheneum Experts

Former VP – Santiane
Former Chief Learning Office – Santiane
French Industry Specialist

Key Information

Financials, Insurance
HQ – France
Operations – France

Blackfin are selling their stake in the insurance brokerage firm Groupe Santiane; with an exit being announced late last year. Cambon Partners are advising on the sale with reports valuing the firm at an EBITDA of €15M. Sources claim an EV of 10x,and the group ‘s 2018 sales at €63M. Several PE firms have said to be interested including: Ardian, Bridgepoint & Qualium.

Key Atheneum Experts

Former Regional Manager – Calsun
Former Global Director – Carrefour (rival)
SVP e-Commerce – E.Leclerc (rival)

Key Information

Industrial, Infrastructure
HQ – France
Operations – France

A majority stake of the French network infrastructure firm Sogetrel is being prepared for sale. Latour Capital appointed DC Advisory to assist in their exit. An unidentified source places EBITDA at €40M with an EV up to €400. Latour bought Sogetrel for €110M in 2018. Sogetrel is expected to be sold via an LBO transaction, with the management team planning to maintain a stake in the company.

Key Atheneum Experts

Former COO – Eurofins
Former Director of Testing – Eurofins
Former Director of Operations – Cerba France (rival)

Key Information

Healthcare
HQ – France
Operations – France

Testing services provider Eurofins are looking to sell their French routine testing assets Bio-Access and Biomnis who offer clinical diagnostics and routine testing. According to sources advisors, Hottinguer Corporate Finance, are marketing off the businesses at an EBIDTA between €75-80M and an EV of €1B. According to Eurofins’ 1H19 report Biomnis recorded double digit growth rates; whilst Bio-Access Growth remains stable.

Key Atheneum Experts

Former Project Manager – Babilou
Former Director Public Accounts – Babilou
Former B2B Sales Director – LPCR (rival)

Key Information

Consumer Services
HQ – France
Operations – France

Babilou, a French chain of nursery and pre school facilities, have been advertised for sale with an EBITDA of €110M and EV €1.5B, according to sources. The sale has attracted long term funds and PE firms including; Blackstone, CVC and Omers. Babilou hopes the sale will grow the business internationally, where 50% of their sales are abroad. JP Morgan are advising.

Key Atheneum Experts

Former Director – Cityscoot
Former VP International Expansions – Lime (rival)
Former French Scooters Director – Bolt (rival)

Key Information

Retail
HQ – France
Operations – France, Italy

Parisian electric scooter rental provider, Cityscoot, are looking to raise €40M by the end of the quarter. Two new shareholders are said to be involved in the fundraise, with Cityscoot still looking for others. The firm has raised €55M since their inception, and are looking to use the funds raised to expand into 3 new European cities, via acquisitions, and expand their Paris scooter fleet.