Omnes Capital invests in Annonay Productions France via a management buy out
Omnes Capital has established an interest in Annonay Productions France (APF) as part of the transfer of ownership of the group from its Chairman Bruno Relmont to its Chief Executive Officer Clément Chapaton (36 years old). At the same time, EPF Partners has also sold its holding in the group’s share capital.
Omnes Capital’s Small Cap Buyout & Growth Capital team has made a second investment this year via the LCL Expansion 2 fund as part of a transaction involving Clément Chapaton and Bruno Relmont.
Founded in 1994 and led since 2001 by Bruno Relmont, APF is now the French leader in the design, manufacture and distribution of pool equipment (liners, slat covers, automatic rollers, and summer and winter pool covers). The group is based at Annonay (Ardèche department) and possesses extensive geographical coverage in France, with 130 employees at its 7 sites.
For 2014, the group forecasts sales of over €36 million and has achieved double-digit growth for close to five years in a struggling French pool market.
The managerial transition was initiated in 2011, with the recruitment of Clément Chapaton as Chief Executive Officer. He is now taking over as Chairman and assuming operational management of the group, with Bruno Relmont alongside him, and his aim is to strengthen the group’s leadership position in its core markets and accelerate its growth momentum in new markets. Omnes Capital’s backing will help to give the company the means to expand its range of products, potentially via acquisition-led growth, and to shore up its presence in European markets.
Commenting on the transaction, Bruno Relmont said: “This transaction is part of the group’s ongoing transfer of ownership initiated three years ago with the arrival of Clément Chapaton. I have full confidence in his ability to see the group’s development projects successfully through to fruition, and I will remain heavily involved from both a human perspective and as a shareholder.”
Clément Chapaton added: “I am happy to take over operational leadership and as chairman of the group, with Bruno Relmont alongside me and with support from Omnes Capital. This represents a genuine opportunity for us to drive the group onto the next stage in its development”.
Bertrand Dupray, Associate at Omnes Capital, added: “We are delighted to seal this partnership with Clément Chapaton and Bruno Relmont. We firmly believe that APF has what it takes to rapidly become a key player across Europe owing to the calibre of its management and its business positioning.”
François Lory, Director, Small-Cap Buyout & Growth Capital
Bertrand Dupray, Associate, Small-Cap Buyout & Growth Capital
Legal counsel for the investors:
Pinot de Villechenon et Associés: Gilles Roux, Martin Kyuchukov-Roglev
Legal counsel for the investors: Maître Laurence Battini
Mazars: Frédéric Maurel, Catherine Prot
Crédit du Nord/Banque Rhône Alpes (Arranger): Bertrand Descours/Christian Souteyrat
BNP Paribas: Samuel Saucourt
Crédit Agricole Centre Est: Cécile Cossenet/Anne-Florence Lebeau
Société Générale: Xavier Perchet
About Omnes Capital (formerly Crédit Agricole Private Equity)
Omnes Capital is a major player in private equity, with a commitment to financing SMEs.
With €2.1 billion in assets under management, Omnes capital provides companies with the capital needed to finance their growth and with key expertise in a number of areas: Buyout & Growth Capital, Venture Capital, Renewable Energy, Co-Investment, Secondary Funds of Funds. Omnes Capital, formerly Crédit Agricole Private Equity, was a subsidiary of Crédit Agricole until March 2012. The firm is now owned by its employees.
Omnes Capital is a signatory to the United Nations Principles for Responsible Investment (PRI). Further information: www.omnescapital.com
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