Omnes Capital invests in Cogepart, the first investment for mid cap fund Omnes Croissance 4.
Omnes Capital is investing €9 million in Cogepart, leader in express shipping and delivery services for retail and business customers, as part of a primary OBO (owner buy out).
Based in Marseille and founded in 1986 by the current owner and manager Jérôme Dor, Cogepart is a leading player in the booming "last mile" logistics market (delivery to end customer).
Cogepart has developed expertise in three areas: delivery of automotive spare parts (Peugeot, Citroën, Renault), delivery and assembly of household equipment and appliances (Ikea, Fnac, Leroy Merlin) and, more recently, home shopping delivery (Monoprix, Carrefour, Ooshop, Casino, evianchezvous.fr).
Cogepart has 750 employees, a thousand customers and rapidly increasing revenues of €37.5 million in 2014.
Its ambition is to strengthen its local positions and speed up its expansion through targeted external build-up.
This deal is the first investment for Omnes Croissance 4, which invests exclusively in French SMEs. The fund achieved an initial closing of €82 million and has a target of €180 million.
Omnes has received support from its historical investors as well as new French and foreign institutional investors.
Jérôme Dor, Chairman and Founder, commented: "This is first time I have worked with a private equity investor. I had a lot of preconceived ideas before deciding to go down this route. But it didn't take me long to pick Omnes as my partner. They are true professionals, were quick to understand what we are trying to do and had the arguments to win me over, an entrepreneur who had "gone it alone" for the past 27 years! They also demonstrated their involvement and ambitions for Cogepart during some fairly lively discussions prior to closing the deal."
Philippe Zurawski, Partner at Omnes Capital, added: "A core pillar of our primary strategy, Cogepart has some unique differentiating strengths which should drive strong growth in the years to come."
Benjamin Arm, Head of Buyout & Growth Capital, said: "This deal is fully in line with our investment strategy, which has proved its worth in previous vintages: stringent selection of high-potential companies, primary deals, a value-creating strategy driven by organic growth and an active build-up policy. Other deals are currently at an advanced stage of review and we continue to raise funds from French and international investors."
Benjamin Arm, Head of Buyout & Growth Capital
Philippe Zurawski, Partner, Mid Cap Buyout & Growth Capital
Rémy Deloffre, Associate, Mid Cap Buyout & Growth Capital
Co-investor: Finadvance (Hervé Legoupil)
Financing: CIC (Annabelle Roux, Romain Lessard, Aurélie Brajon), Arkéa Banque E&I (Laurent Imbert) & HSBC (Hélène Adiansen, Sophie Thonnerieux)
Legal structuring – investor advisers: Gide Loyrette Nouel (Anne Tolila, Paul Jourdan-Nayrac)
Financial DD: KPMG Transaction Services (Axel Rebaudières, Mohamed Macaigne)
Strategic DD: Neovian Partners (Giovanni Di Francesco, Sandrine Maison)
Legal/tax/employment DD: Lexton (Evelyne Crantelle, Emmanuelle-Anne Leroy)
ESG DD: ExFi Partners (Emmanuel Parmentier)
Seller's financial adviser: Clairfield International (Emmanuel Xerri)
Seller's legal adviser: Axten (Loïc-Emmanuel Pellegrino, Magali Floris-Drujon d'Astros)
About Omnes Capital
Omnes Capital is a major player in private equity and infrastructure 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 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
Martine Sessin-Caracci, firstname.lastname@example.org – +33 1 80 48 79 15
Caroline Babouillard, email@example.com – +33 1 44 50 58 72