Omnes Capital sells its stake in SIMP to HCP Packaging, owned by Baring Private Equity Asia.

Omnes Capital sells its stake in SIMP to HCP Packaging, owned by Baring Private Equity Asia.
Tuesday, October 4, 2016

Omnes Capital is selling its majority stake in SIMP to the HCP Packaging group, owned by Baring Private Equity Asia. HCP is a world market leader in the design, development and manufacture of prestige primary packaging for the cosmetics, skincare and fragrance industries. Omnes acquired a stake in SIMP in 2011. The deal involves keeping the management team in place, Alain Blondel, Chairman and Eric de Bardonnèche, commercial and development director.
Founded in 1949 in the Paris region, SIMP is a pioneer in plastic and rubber injection moulding. It designs and manufactures small precision industrial components produced in medium or large runs for major cosmetics companies (L’Oréal, Lancôme, Dior, Givenchy, Estée Lauder, Bourjois, Oriflame, etc.) and several high value-added niche markets (connectors, aerospace, medical etc.).

The company has established itself as world market leader in the cosmetics market for the manufacture of plastic applicators and make-up applicators. It has two production plants, in France (Draveil) and Mexico (Aguascalientes).
Having benefited from the support of Omnes for five years, the company has achieved solid growth.
Sales have increased by an average of 11% per year.
The company has expanded its customer base to the European and US markets. In 2015, more than 60% of sales were generated outside France.

SIMP has also strengthened its innovation activities, in particular in plastic mascara applicators, thereby consolidating its technological leadership in this segment. The company has also applied for 17 patents that have been granted or are under consideration (compared with five at the time of the buyout).
Laurent Espic, Partner, comments : “We are proud to have achieved or even exceeded the targets we set ourselves with the management team in 2011. The arrival of HCP marks the next step in the development of SIMP, which after already established its presence in Europe and North America, now has access to the growing Asian market.”
Alain Blondel, Chairman of SIMP, adds : “Over the last five years, SIMP has established itself as a key player in the highly innovative global cosmetics applicator market. We are very pleased today to be joining the HCP group, which will enable SIMP to step up its international expansion and develop new generations of applicators.”
Benjamin Arm, Managing Director at Omnes Capital, states : “This disposal is the twelfth divestment for the LCL Expansion and Omnes Expansion small cap funds. It illustrates the performance of our investment strategy based on long-term support and value creation driven by organic growth.”
Omnes Capital achieved a multiple of 4,7x on this deal. Following this, LCL Expansion and Omnes Expansion vehicles (2007 vintage) will have returned to their subscribers a 1x DPI.

Parties involved

Omnes Capital :

Laurent Espic, Partner, Small Cap Buyout & Growth Capital
Antoine Joris, Associate, Small Cap Buyout & Growth Capital

Seller’s advisors
Corporate lawyers : Reinhart Marville Torre (Philippe Torre, Edouard Castel, Guillaume Dupont)
Legal VDD: Reinhart Marville Torre :  real estate (Bertrand Thouny) – employees (Soazig Preteseille)
Financial VDD : Advance Capital (Arnaud Vergnole, Pascal Ripaux, Alice Van Der Schrieck) 
Management legal : Dixhuit Boétie (Annabelle Thieffine)
Tax : VHAvocats (Vincent Halbout)

Buyer’s advisors
Solicitors : Weil, Gotshal & Manges (Gautier Elies)
Financial diligence : Deloitte (Philippe Serzec)
Tax and management diligence : TAJ (Wai-Lin Ng, Christina Melady)
Sellside advisor :  Synercom (Richard Juhel)
More information about SIMP:

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, Private Debt, 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.
Headed by Benjamin Arm, Managing Director, the Small-Cap Buyout & Growth Capital team comprises four investors: Laurent Espic, Partner, Frédéric Mimoun, Director, Fabrice Crabié, Principal and Antoine Joris, Associate.
Omnes Capital is a signatory to the United Nations Principles for Responsible Investment (PRI). Further information:

Press contacts
Omnes Capital Gaëlle de Montoussé, – +33 1 80 48 79 16
Shan Josepha Montana, – +33 1 44 50 03 81