Omnes Capital, formerly Crédit Agricole Private Equity, is investing €15 million in the Eratome group, a social housing renovation specialist, as part of a primary LBO alongside Founder, Chairman and Chief Executive Officer Jean-Michel Nucera, the company’s managers and FSI Régions – bpifrance.
Founded in 1991 by Jean-Michel Nucera, the Eratome group is a leading player in the buildings repair and maintenance market and in social housing renovation and refurbishment. As a multi-specialist, the Eratome group has recognised expertise in all trades (plumbing, painting and decorating, electricity and wiring, floor coverings, carpentry, etc.). It has a 10% market share of the greater Paris region with a customer portfolio comprised exclusively of social housing landlords and four-year contracts.
Operating in a regulated market and sustained by growing needs, the group has asserted itself as a key player in allowing its customers to maintain the attractiveness of their homes.
The Eratome group expects to generate sales of over €30 million in 2013. It has more than 100 employees and carried out more than 32,000 on-site jobs in 2012.
The aim of the LBO is to strengthen the group’s structure and help to finance its acquisition-based expansion strategy. A number of opportunities have already been identified in the Paris region, where the market is highly fragmented.
Jean-Michel Nucera, Chairman and Chief Executive Officer of the Eratome group, comments: “We have found a dynamic and ambitious team that matches our needs. This collaboration with Omnes Capital and FSI Régions will enable us to maintain our market-leading position, while also reinforcing our expansion in the renovations market.”
Benjamin Arm, Director at Omnes Capital, adds: “We are proud to be investing in the Eratome group and to be working with the founder and his team in its growth strategy. The group has already demonstrated its ability to carry out acquisitions successfully and this is illustrated in particular by the high quality services offered to its customers. The Eratome group presents all of the strengths needed to succeed in its plans.”
Benjamin Arm, Director, Mid Cap Buyout & Growth Capital
Alice Calvez-Pignot, Associate, Mid Cap Buyout & Growth Capital
FSI Régions – bpifrance (Cyril Chaumien)
IFE Mezzanine (Jean-Pascal Ley, Laurent Warlop)
CIC (Francis Dreyfus, Jérôme Salmon, Olivier Theodorides) as Coordinator and Arranger
Banque Palatine (Thierry Jay, Etienne Pirard) as Arranger
Banque Populaire Rives de Paris
Caisse d’Epargne et de Prévoyance Ile de France
Paul Hastings (Olivier Deren, Grine Lahreche and Arnaud Levasseur for legal aspects, Mounir Letayf and Camille Bakouch for financing aspects and Laurent Ragot for tax aspects)
Eight Advisory (Stéphane Vanbergue, Aurélien Vion)
Neovian Partners (Patrick Richer, Chahinez Zeroual)
Sellers’ exclusive financial advisor: CM-CIC Corporate Adivsory (Laurent Lefebvre; Alexandre Forget; Elisa Valdes)
Legal: Field Fisher Waterhouse (Philippe Netto; Jean-Baptiste Van de Voorde); UGCC (Pascal Squercioni)
Mezzanine finance advisors
Simmons & Simmons (Colin Millar, Hélène Le Garsmeur)
Corporate banking advisors
Reed Smith (Alexandre Tron, Olivier Borenstejn, Charlotte Hazan)
About Omnes Capital (formerly Crédit Agricole Private Equity)
Omnes Capital is a major player in private equity, with a commitment to financing SMEs. With €1.8 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: Mid and Small Cap Buyout & Growth Capital, Venture Capital in technology and life sciences, Renewable Energy, Mezzanine, Secondary Funds of Funds, Co-Investment. Omnes Capital, formerly Crédit Agricole Private Equity, was a subsidiary of Crédit Agricole until March 2012 when the company gained its independence. Omnes Capital is a signatory to the United Nations Principles for Responsible Investment (PRI). Further information: www-rec.omnescapital.com
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