Two years after Camérus was bought out by its management team, the company has carried out its first acquisition with the support of Omnes Capital
Omnes Capital, via its small cap funds LCL PME Expansion 2 and LCL Expansion 2, has helped Camérus with the acquisition of Square, allowing for the withdrawal of the company’s director and historic sole shareholder, François Anfrye (Chairman of Square).
Omnes invested in the company in 2013 on the occasion of a management buyout (MBO) alongside the management team made up of President Christian Liagre, Chief Executive Officers Christine Atzémis and Christophe Vilain, and Chief Financial Officer Loïc Le Bris
Founded in 1992, Camérus is one of France’s leading names in furniture hire for interior designers and event organisers (trade shows, exhibitions and conferences, including the Salon des Vignerons Indépendants and the Davos forum). The company has a catalogue of around 700 products, some of which have been developed exclusively by Camérus. It offers integrated services including furniture delivery and installation at trade shows, as well as setting up stands. Sales have continued to grow since 2010 and are expected to exceed €10 million in 2015. It has around 50 employees. Based on Gonesse since relocating in May 2015, the company has more than 15,000 m2 of warehouses allowing it to be present primarily in the Paris region, as well as northern and eastern France and neighbouring countries.
Square is based in Pont-Évêque near Vienne and has more than 10,000 m2 of storage space. Like Camérus, it specialises in furniture and accessory hire for interior designers and event organisers. Its specific character relates to its regional presence, primarily in south-eastern France with a range of products that complement those of Camérus, particularly with its catalogue of products such as refrigerators and display cabinets. It expects to generate sales of around €4 million in 2015 and has 23 employees.
The merging of the two companies will enable Camérus to expand its coverage across all of France and diversify and enhance its range of products and services.
The acquisition will create the market leader in France in furniture hire for professional trade shows.
Christian Liagre, President of Camérus, comments : “This merger marks the first success in our acquisition strategy since the company was bought out by its management team in a market that remains resilient. Long-standing operators need to find ways of expanding internationally or by means of acquisitions. This acquisition is an initial structural step for the company.”
Christine Atzémis, Chief Executive Officer of Camérus and President of Square, comments : “This merger will allow us to achieve synergies by pooling sales teams. We are confident about the merger and expect integration to be harmonious, thanks primarily to the business values shared by the various teams with a view to further improving our customer service.”
Christophe Vilain, Chief Executive Officer of Camérus : “This merger enables us to absorb the anticipated growth in the company’s sales thanks to additional warehouse space and will also allow us to pool all of our operating resources in order to optimise our logistics and achieve the best possible customer satisfaction.”
Loïc Le Bris, Chief Financial Officer of Camérus : “Both companies are already profitable and the merger should enable them to further improve their financial performance.”
Laurent Espic, Partner at Omnes Capital, adds : “Camérus is a leading name in a niche market. This merger between two companies that know each other and have been operating for many years will enable the company to increase its market share by more than 40% and contribute to the consolidation of a sector that is still very fragmented. It will enable it to become market leader in France.”
Laurent Espic, Partner, Small Cap Buyout and Growth Capital
Legal Management & Investor / Corporate / Tax & Legal Audit
Maguelone Beaumont-Loriot, Lawyer
Advance Capital : Arnaud Vergnole, Thibault Fleury
Fidal : Sophie Trincea
Sellers’ Legal Advisors
Adamas : Hervé Le Blanc
Financing / Senior Debt
BECM (Arranger and Agent) : Ronan Auffret et Barbara Millotte
Caisse d’Epargne : Ghislain Garnier
About Omnes Capital
Omnes Capital is a major private equity and infrastructure investment player. With €2.1 billion under management, Omnes Capital provides businesses with the equity they need to develop in its key areas of expertise: growth capital and buyouts, venture capital, renewable energies, co-investment, secondary funds-of-funds. Omnes Capital was a subsidiary of Crédit Agricole S.A. until March 2012. The company is now owned by its employees. Omnes Capital is a signatory to the United Nations' Responsible Investment Principles. www.omnescapital.com
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