Omnes Capital sells Capcom stake and completes the first exit for its Omnes Croissance 4 midcap fund a few months after its final closing

Omnes Capital sells Capcom stake and completes the first exit for its Omnes Croissance 4 midcap fund a few months after its final closing
Thursday, February 23, 2017

Omnes Capital has sold its stake in Capcom to Circet, French market leader in telecommunications infrastructure for telecoms operators. This comes just a few months after the Omnes Croissance 4 midcap fund was closed at €210 million, allowing Omnes Capital to achieve a multiple of 2.6x. This is the first exit for the Omnes Croissance 4 fund. Omnes acquired a stake in Capcom in 2015.

On the occasion of this exit, Capcom’s founder-managers have acquired a stake in Circet. Omnes Capital is investing in the new deal and has agreed to the fifth investment for Omnes Croissance 4.

Founded in 2001, Capcom provides telecoms operators with deployment, installation and technical maintenance services for their high speed and fibre optic telecommunications networks. This dual approach - providing technical support and the ability to sell operators’ services - makes Capcom one of the key players in the market.

In 2015, the company signed partnership agreements with the main telecoms and energy operators (Orange, Numéricable-SFR, Engie, etc.), allowing it to double its sales in the space of one year. The company generated sales of €94.8 million in 2016 and has 700 sales representatives and technicians working across mainland France and in the overseas departments and territories.

Founded in 1993, Circet is the market leader, having pursued an active acquisition policy for eight years.

The buyout of Capcom by Circet is part of the wave of consolidation in the telecoms infrastructure sector that started several years ago. The deal is also accompanied by the buyout of Circet by Capecom. The new entity - controlled by CM-CIC - represents 10% of the market with around combined sales of €600 million.

Eric Rey, Managing Partner at Omnes Capital, comments : “We are proud to have worked with Capcom in a context of strong growth and to have achieved our targets quickly.
This exit is accompanied by the acquisition of a stake in Circet by the Omnes Croissance 4 midcap fund, which is its fifth investment following Cogepart (express shipping service), Bimedia (software solutions for local retailers), Capcom (installation of fibre optic and cable networks) and Dispam (temperature-controlled transportation).”

Rachid Abdi and Angel Sandoval, executive directors of the Capcom group, comment : “Omnes Capital has demonstrated a high level of responsiveness in responding to our needs in a context of very strong growth. We are delighted to be continuing to work with this partner as part of a new adventure within the Circet group.”

Participants

Omnes Capital
Eric Rey, Managing Partner, Midcap Buyout & Growth Capital
Geoffroy Manet, Analyst, Midcap Buyout & Growth Capital
 

Advisers
Legal structuring: Gide Loyrette Nouel (Christian Nouel, Anne Tolila, Paul Jourdan-Nayrac)
Financial: Odéris Consulting (Julien Passerat, Steven Mongondry)
Legal, Tax, Labor: Lexton (Evelyne Crantelle, Matthieu Hénault, Emmanuelle-Anne Leroy, Laurent Mathely, Bruno Boulanger)

About Omnes Capital
Omnes Capital is a major player in private equity and infrastructure. With €3 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, Private Debt, Venture Capital, Infrastructure, Co-Investment. 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).
www.omnescapital.com

Press contacts
Omnes Capital Gaëlle de Montoussé, gaelle.demontousse@omnescapital.com – +33 1 80 48 79 16
Shan Josepha Montana, josepha.montana@shan.fr – +33 1 44 50 03 81