M&A Deal Summary

Africinvest, Siparex and BNP Paribas Developpement Acquire Altereo

On December 16, 2022, growth capital firm Africinvest, private equity firm Siparex and growth capital firm BNP Paribas Developpement acquired environmental company Altereo from Ixo Private Equity

Acquisition Highlights
  • This is Africinvest’s 1st, Siparex’s 1st and BNP Paribas Developpement’s 1st transaction in the Environmental sector.
  • This is Africinvest’s 16th, Siparex’s 68th and BNP Paribas Developpement’s 18th transaction in France.

M&A Deal Summary

Date 2022-12-16
Target Altereo
Sector Environmental
Buyer(s) Africinvest
Siparex
BNP Paribas Developpement
Sellers(s) Ixo Private Equity
Deal Type Secondary Buyout
Advisor(s) Corporate Finance International (Financial)

Target

Altereo

Venelles, France
Altereo is a group whose activities are water and environmental engineering, consulting in the management of public services, sustainable development of the city and the territory and the publication of geographic information software. Altereo was founded in 1989 and is based in Venelles, France.

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Buyer(S) 3

Buyer

Africinvest

Tunis, Tunisia

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1994
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Africinvest is a private equity firm focused on growth investments in African companies. The Firm generally targets minority investments in small to medium-sized companies, but Africinvest will consider select majority situations. Africinvest does not have any sector preferences and looks to hold for 4 to 6 years. Africinvest was formed in 1994 and is headquartered in Tunis, Tunisia.


DEAL STATS #
Overall 53 of 57
Sector: Environmental M&A 1 of 1
Type: Secondary Buyout M&A Deals 4 of 6
Country: France M&A 16 of 17
Year: 2022 M&A 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-27 Bridge Bank

Cote d'Ivoire, South Africa

Bridge Bank is a holding company which has a majority equity stake in Bride Bank Cote d’Ivoire , an Ivorian universal Bank and a minority significant equity stake in a bank in Senegal. Bridge Bank is based in Cote d'Ivoire, South Africa.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-20 GAT Assurances

Tunis, Tunisia

GAT Assurances offers online services that allow in a few clicks to generate an online quote and immediately know the price of insurance. GAT Assurances was founded in 1975 and is based in Tunis, Tunisia.

Sell -
Buyer

Siparex

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1977
PE ASSETS 4.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Siparex is a French private equity firm that looks to invest mezzanine or equity capital in companies at all stages of development. The Firm separates its investment activity into mid-market, mezzanine, and small-cap. Within mid-market, Siparex looks to invest €2.5 to €40 million in companies with at least €15 million in sales. Prospective transaction situations include buyouts, shareholder liquidity events, and growth capital financings. The Firm will consider all business sectors. Within its mezzanine group, Siparex looks to invest €2 to €10 million to support growth, acquisitions, refinancings, and restructurings. The small-cap group seeks investments starting at €300K in early-stage companies as well as those undergoing expansion or being sold. Siparex was formed in 1977 and is based in Paris.


DEAL STATS #
Overall 74 of 102
Sector: Environmental M&A 1 of 1
Type: Secondary Buyout M&A Deals 11 of 18
Country: France M&A 68 of 95
Year: 2022 M&A 9 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-29 PCS

Paris, France

PCS is a financial services, that offers Mastercard-branded reloadable prepaid cards. It provides prepaid payment solutions without requiring a bank account and targets a broad customer base with a simple, accessible, and regulated product. PCS is based in Paris, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-01 CHOVET

Villeurbanne, France

CHOVET is an engineering company that supports industrial-environmental projects from design through commissioning, providing procurement assistance and construction-management services. CHOVET expertise spans sectors such as glass production, cement and mineral processing, recycling, and low-carbon construction materials. CHOVET is based in Villeurbanne, France.

Buy -
DESCRIPTION

BNP Paribas Developpement is the growth-oriented development arm of financial services firm and bank BNP Paribas. BNP Paribas Developpement supports a range of lower middle-market companies and looks to invest in minority positions to support growth. BNP Paribas Developpement was formed in 1988 and is based in Paris, France.


DEAL STATS #
Overall 21 of 31
Sector: Environmental M&A 1 of 1
Type: Secondary Buyout M&A Deals 6 of 8
Country: France M&A 18 of 27
Year: 2022 M&A 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-24 Nat&Form

Kervignac, France

Nat & Form develops natural, ethical and eco-designed food supplements to bring you the best of nature while preserving the environment. Nat&Form was founded in 1996 and is based in Kervignac, France. 


Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-16 SGT

Reze Cedex, France

SGT specializes in PET and RPET packaging, designing and manufacturing high-performance solutions for liquid packaging. The company offers a comprehensive and continuously evolving range of PET and RPET preforms (single-layer and multilayer), as well as HDPE caps. SGT was founded in 1981 and is based in Reze Cedex, France.

Buy -

Seller(S) 1

SELLER

Ixo Private Equity

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2002
PE ASSETS 970M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Ixo Private Equity is a private investment firm focused on acquiring and investing in companies at all stages, including venture, growth, and buyout. The Firm's buyout group does not have any sector preferences and looks to invest €2 to €30 million. Ixo's geographic preference is for opportunities throughout Western Europe. Ixo Private Equity was formed in 2002 and is based in Toulouse, France.


DEAL STATS #
Overall 13 of 30
Sector: Environmental M&A 1 of 1
Type: Secondary Buyout M&A Deals 4 of 8
Country: France M&A 12 of 28
Year: 2022 M&A 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-13 Meritis

Paris, France

Meritis is a consulting firm specializing in information systems and organizational transformation. Meritis is based in Paris, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-10 Neotec

Bressols, France

Neotec specializes in design and manufacture of sub-assemblies, equipment, chassis and vehicle transmission components for industrial applications, particularly railway applications. Neotec was founded in 1991 and is based in Bressols, France.

Sell -