Crédit Agricole Private Equity sells its stake in Proman.

Crédit Agricole Private Equity sells its stake in Proman. Sodica advises the group’s shareholders on the new shareholding structure.
Wednesday, December 7, 2011

Crédit Agricole Private Equity is selling its minority stake in Proman, France’s sixth-largest temporary employment company, to its family shareholders as part of a sponsorless OBO.

Founded in 1990 by Evelyne and Roland Gomez Snr in Manosque in the Alpes de Haute-Provence region of France, Proman is a family-owned company specialising in temporary employment. With the support of Crédit Agricole Private Equity and Sofipaca since 2007, the company has seen exceptional growth, doubling its sales in four years. Buoyed by extremely strong organic growth, the company is expected to generate sales of €550 million in 2011. It operates via a network of 160 agencies covering all of France and is planning to open more than 20 new agencies in 2012.  

Centred around founders Evelyne and Roland Gomez Snr, Proman’s family shareholders have decided to acquire the minority stakes held by financial investors. The aim is to prepare to hand over the company to the second generation represented by Roland Gomez Jnr, Proman’s current Chief Executive Officer.

Crédit Agricole Private Equity has agreed to the eighth sale from its FCPR CACI 2 fund, which still has seven investments in its portfolio.

Proman founder Roland Gomez Snr comments: “This latest OBO will enable the second generation of the Gomez family to strengthen its position in the company’s share capital in order to continue with and step up the Proman Group’s expansion in France and abroad”.

Daniel Balland, Partner at Crédit Agricole Private Equity, concludes: “We are very happy to have worked with the Gomez family in developing their family business, which has grown continually and delivered a very strong financial performance.”

Exiting investors:
-    Crédit Agricole Private Equity – Daniel Balland, Benjamin Arm
-    SOFIPACA – Yves Besset, Michel Pourcelot

Shareholder advisors:
-    Financial: SODICA – Gilles Coudon, Franck Monnot
-    Legal: Cabinet Dupire – Patrick Dupire, Isabelle Grimaud
-    Seller due diligence, financial: Grant Thornton – Thierry Dartus, Cyril Doukhan
-    Seller due diligence, legal: Fidal – Christian Tura
-    LCL (Arranger): LCL – Bruno Zerbib, Béatrice Libosvar, François Repolt, Aude El Gemayel
-    Crédit Agricole Provence Côte d'Azur – Raoul Turin, Pascal Sanchez
-    BNP Paribas – Fabian Silvani, Gilles Méalin
-    Banque Palatine – Laurent Jouini
-    Banque Populaire des Alpes – Bruno Glaudas
-    CIC Lyonnaise de Banque – Thomas Hartweth, Céline Grégoire

Press contact
Martine Sessin-Caracci, – +33 (0)1 43 23 90 88

About Crédit Agricole Private Equity
Crédit Agricole Private Equity is an AMF-accredited asset-management subsidiary of Crédit Agricole, specializing in direct private-equity investment in non-listed companies. A multi-specialist player, Crédit Agricole Private Equity’s team of 100 professionals manages €3.7 billion with specific expertise in LBO & Expansion, Venture Capital, Mezzanine, Co-Investment, Renewable Energy and PPP Infrastructure.
Crédit Agricole Private Equity has signed up to the United Nations’ Principles for Responsible Investment (PRI). 

About Sodica
Part of the Crédit Agricole Group’s Private Equity and Finance Division, Sodica specialises in M&A, structuring, corporate finance and equity capital activities for mid-cap companies. Sodica’s main objective is to support the activities of the Crédit Agricole Group’s banking networks and subsidiaries.