LBO France Mergers and Acquisitions Summary

Asset Manager Profile

In the last 3 years, LBO France has acquired 8 companies. It has also invested in 1 other.

LBO France’s most common sectors for investment areconsumer products (8%) and retail (7%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (50%) and secondary buyout (39%). In total, LBO France has invested in 2 US states and 6 different countries. Its largest (disclosed) acquisition occurred in 2006 when it acquired Cegelec SAS for $3.4B.

In the last 3 years, LBO France has exited 8 companies. The Firm’s most common exit type is secondary buyout (57%). LBO France’s largest (disclosed) exit occurred in 2011 when it sold Converteam SAS for $3.2B.

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M&A Summary

  • M&A Total Activity146
    • M&A Buy Activity91
    • M&A Sell Activity55
  • Total Sectors Invested 38
  • Total Countries Invested 6
  • M&A Buy/Sell Connections 31
  • M&A Advisors 14

LBO France

LBO France

148 rue de l’Universite,
Paris, 75007
France
+33 1 40 62 77 67
www.lbofrance.com
contact@lbofrance.com

LBO France is an independent private equity group focused on acquiring majority stakes in French firms, or companies with French management. LBO France manages several funds, each targeting different types of businesses. The Firm's mid-market fund looks to acquire majority or minority stakes in companies valued from €100 million to €2.5 billion. The mid-market fund generally looks at companies with predictable sales, profits and cash flow, but will also consider businesses with under-utilized assets. LBO France's small cap fund targets majority stakes in smaller, profitable businesses valued from €10 to €100 million, with strong potential for growth or consolidation. In addition to its equity funds, LBO France also invests in real estate and provides LBO loans issued by medium-sized European companies (enterprise value between €150m and €2bn). LBO France was formed in 1985 and is based in Paris.


Investment Criteria

Sectors of Interest: Automotive, Building Materials, Business Services, Construction, Consumer Products, Consumer Services, Distribution, Electronics, Energy Services and Equipment, Engineering, Environmental, Financial Services, Food, Furniture, Healthcare Services, Information Technology, Leisure, Life Science, Machinery, Manufacturing, Marine, Marketing, Media, Metals/Mining, Packaging, Real Estate, Retail, Safety/Security, Test/Measurement Equipment, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Growth Capital, Recapitalization, Special Situations/Distressed, Venture

Geographic Preferences: Western Europe

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - -
Enterprise Value 10 -
values in millions of EUR

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (2.8/yr) # 77 5 6 3 - - 91
vol $9.1B $9.1B
Sell (2.0/yr) # 45 2 4 2 2 - 55
vol $9.5B $9.5B
  146

Most Recent M&A

Company Date Value Type
Groupe Infodis 2023-03-16 - Secondary Sale
Roissy, France · www.infodis.com
CMR Group 2023-01-27 - Trade Sale
Marseille, France · www.cmr-group.com
Zato SpA 2022-09-12 - Buyout (LBO, MBO, MBI)
Prevalle, Italy · www.zato.it
McIntosh Group, Inc. 2022-06-15 - Secondary Sale
New York, New York · www.mcintoshgroup.com
Astidental di SAbbione SpA 2022-04-12 - Buyout (LBO, MBO, MBI)
Asti, Italy · www.bquadro.it
Crouzet Automatismes SAS 2022-04-04 - Secondary Sale
Valence, France · www.crouzet.com
Origine Cycles SAS 2022-03-29 - Buyout (LBO, MBO, MBI)
Rouvignies, France · www.origine-cycles.com
IDMarket.com 2021-11-25 - Buyout (LBO, MBO, MBI)
Soliers, France · www.idmarket.com
Sourcidys 2021-11-25 - Buyout (LBO, MBO, MBI)
Tours, France · www.sourcidys.com
Alliance Marine Services L.P. 2021-11-16 - Secondary Buyout
La Garde, France · www.alliancemarine.fr
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Prenax SAS 2020-10-30 LM Information Delivery - Subscription Management Business 2020-10-30 1
Courbevoie, France · www.prenax.fr Helsinki, Finland

M&A by Sector

Sector Current # Value All-time # Value
Consumer Products 4 (14%) 169M (100%) 7 (8%) 169M (2%)
Business Services 2 (7%) - 6 (7%) -
Retail 3 (11%) - 6 (7%) -
Building Materials - - 5 (5%) 969M (11%)
Electrical Equipment - - 5 (5%) 840M (9%)
Food - - 5 (5%) 798M (9%)
Distribution 4 (14%) - 5 (5%) -
Manufacturing 2 (7%) - 4 (4%) 468M (5%)
Machinery 1 (4%) - 4 (4%) -
Information Technology 1 (4%) - 3 (3%) -
Life Science 3 (11%) - 3 (3%) -
Packaging 1 (4%) - 3 (3%) -
Chemicals - - 2 (2%) 1.6B (17%)
Healthcare Services - - 2 (2%) 676M (7%)
Construction - - 2 (2%) -
Electronics - - 2 (2%) -
Engineering - - 2 (2%) -
Furniture - - 2 (2%) -
Medical Products - - 2 (2%) -
Real Estate - - 2 (2%) -
Safety/Security - - 2 (2%) -
Energy Services and Equipment - - 1 (1%) 3.4B (37%)
Consumer Services - - 1 (1%) 225M (2%)
Aerospace - - 1 (1%) -
Airlines - - 1 (1%) -
Apparel/Textiles - - 1 (1%) -
Automotive 1 (4%) - 1 (1%) -
Communications 1 (4%) - 1 (1%) -
Environmental - - 1 (1%) -
Financial Services 1 (4%) - 1 (1%) -
Internet Software and Services 1 (4%) - 1 (1%) -
Leisure - - 1 (1%) -
Marine 1 (4%) - 1 (1%) -
Marketing - - 1 (1%) -
Media 1 (4%) - 1 (1%) -
Metals/Mining 1 (4%) - 1 (1%) -
Software - - 1 (1%) -
Transportation - - 1 (1%) -
Total 28 $169M 91 $9.1B

Acquisitions By Geo

State/Country Current # Value All-time # Value
France 22 (79%) 169M (100%) 76 (84%) 8.2B (91%)
Italy 5 (18%) - 7 (8%) -
Luxembourg - - 4 (4%) 840M (9%)
United States 1 (4%) - 2 (2%) -
  Florida 1 (4%) - 1 (1%) -
  New York - - 1 (1%) -
Spain - - 1 (1%) -
Belgium - - 1 (1%) -
Domestic 22 (79%) 169M (100%) 76 (84%) 8.2B (91%)
Cross-border 6 (21%) - 15 (16%) 840M (9%)
Total 28 $169M 91 $9.1B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 14 (50%) - 45 (49%) 840M (9%)
Secondary Buyout 8 (29%) 169M (100%) 35 (38%) 7.1B (78%)
Venture 3 (11%) - 5 (5%) -
Divestiture - - 3 (3%) 1.1B (12%)
Growth Capital 2 (7%) - 2 (2%) -
Stake Purchase 1 (4%) - 1 (1%) -
Total 28 $169M 91 $9.1B

Exits by Deal Type

Type Total # Value
Secondary Sale 32 (58%) 2.7B (28%)
Trade Sale - Public Company 10 (18%) 4.9B (52%)
Trade Sale 9 (16%) 1.9B (20%)
Unknown 2 (4%) -
Sold to Management 1 (2%) -
Stake Sale 1 (2%) -
Total 55 $9.5B

Top M&A Advisors

Financial Deals
Canaccord Genuity Corp.
 3
Deloitte
 2
KPMG Corporate Finance LLC
 1
Legal Deals
Mayer Brown
 11
Allen & Overy
 1
Jeantet & Associés
 1

Deal Values

buy # Total
> $1B 2 $4.6B
$100M to $1B 8 $4.5B
TOTAL $9.1B
Largest Cegelec SAS
$3.4B (2006-04-28)
sell # Total
> $1B 4 $8.0B
$100M to $1B 3 $1.5B
TOTAL $9.5B
Largest Converteam SAS
$3.2B (2011-09-02)

M&A Connections

Deals
Acquired from
Investor(s)
35%
32 (35%)
Strategic(s)
3%
3 (3%)
Exited to
Investor(s)
56%
31 (56%)
Strategic(s)
27%
15 (27%)

Investor Summary

Investor Type

Asset Manager

Size

Mega

PE Assets

5.4B EUR

Established

1985

Specialist/Generalist

Generalist

Leadership

Robert Daussun

Executive Chairman

Stanislas Salaun de Kertanguy

Head of ESG

Pierre Nebout

Head of Public Equity

Guy Van Der Mensbrugghe

Managing Director

Pietro Zerauschek

Managing Director, Energea

FAQ

When was LBO France founded?

LBO France was founded in 1985.

What type of investor is LBO France?

LBO France is an asset manager.

Where is LBO France headquartered?

LBO France is headquartered in Paris, France.

How much capital does LBO France have under management?

LBO France has 5.4B EUR under management.

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