LCL Régions Développement, a fund managed by Crédit Agricole Private Equity, invests in Ocean
Paris, June 25, 2007 - LCL Régions Développement, a fund managed by Crédit Agricole Private Equity, has acquired a minority interest in Ocean on the occasion of the buyout of the company by two entrepreneurs, Jacques Rivière and Jean-Paul Brigot.
As part of the MBI (Management Buy In) allowing for the full withdrawal of founder Olyvia Pilo, Jacques Rivière will become Chairman of Ocean and Jean-Paul Brigot will become Chief Executive Officer.
Ocean is one of France’s leading providers of turnkey vehicle tracking solutions. Its solutions are constantly evolving and make pragmatic use of tracking technologies, providing concrete responses in terms of vehicle management (traceability, organisation of activities etc.) and cutting costs (fuel, telecommunications, vehicle wear and tear etc.)
Ocean’s solutions are widely used by SMEs in the construction, manufacturing and transportation sectors for management applications or in order to meet regulatory requirements in terms of traceability of operations and equipment.
Created in 2003, Ocean’s operations currently cover all of France via a network of accredited installation engineers, allowing for close relations with customers. Based in Saint-Ouen in the Paris region, Ocean has around 30 employees and its equipment is currently used in over 9,000 vehicles. In 2006, Ocean generated revenues of €5.7 million, an increase of 77% compared with 2005.
In 2006, Ocean received support from French innovation agency Anvar to develop turnkey vehicle tracking solutions to meet the specific requirements of business sectors such as construction and civil engineering.
This constitutes LCL Régions Développement’s fourth investment of 2007.
Legal advisor to investors
Reinhart Marville Torre (Philippe Torre - Jawad Fassi-Fehri)
Advisor to buyer
Conseil & Stratégie (Dominique Segard)
Financial due diligence
Safirec (Thierry Beltran)
LCL - Direction Régionale Entreprises Ile de France Nord-Ouest (Marie-Cécile Jacquet)
Financial advisor to seller
OptiCroissance (Sébastien Mitton, Louis Veyret)
Legal advisor to seller
JFA Souillac & Associés (Marc Peufaillit)
Crédit Agricole Private Equity
Laurent Espic, Partner, email@example.com - 01 43 23 99 35,
Fabrice Crabié, Associate, firstname.lastname@example.org - 01 43 23 96 04
Martine Sessin-Caracci - email@example.com - 01 43 23 90 88
A propos de Crédit Agricole Private Equity
Crédit Agricole Private Equity is an AMF-accredited asset management subsidiary of Crédit Agricole S.A., specializing in private equity investment in non-listed companies.
A multi-specialist player in the private equity market, it has a team of 40 investors operating in several areas (LBO/Expansion, Venture Capital, Secondary Market, Mezzanine, Renewable Energies, PPP Infrastructure, liquidity solutions, etc.), manages €1.5 billion through venture and innovation funds. Crédit Agricole Private Equity provides advice and support for business managers implementing growth plans.
More Information about Ocean