M&A Deal Summary

Chequers Capital Acquires Alliance Etiquettes

On April 9, 2021, private equity firm Chequers Capital acquired business services company Alliance Etiquettes from Activa Capital

Acquisition Highlights
  • This is Chequers Capital’s 3rd transaction in the Business Services sector.
  • This is Chequers Capital’s 14th transaction in France.

M&A Deal Summary
Date 2021-04-09
Target Alliance Etiquettes
Sector Business Services
Buyer(s) Chequers Capital
Sellers(s) Activa Capital
Deal Type Secondary Buyout

Target

Alliance Etiquettes

Bordeaux, France
Alliance Etiquettes is a French company specialized in the design and production of premium labels for the wine, spirits, agri-food, and cosmetic market. Alliance Etiquettes is based in Bordeaux, France.

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Buyer(S) 1

Buyer

Chequers Capital

Paris, France

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1972
PE ASSETS 2.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Chequers Capital is a private equity group focused on acquiring and developing small, medium and large-sized companies in partnership with management. Chequers primarily seeks opportunities in France, Germany, Italy, Benelux, Switzerland and Spain. The Firm looks to commit €40 to €150 million per investment in transactions valued between €80 and €500 million. Sectors of interest broadly include all areas of industrial, distribution, and services. Target transaction situations include turnarounds, recapitalizations, buyouts, and divestitures. Chequers Capital was formed in 1972 and is based in Paris.

DEAL STATS #
Overall 29 of 38
Sector (Business Services) 3 of 3
Type (Secondary Buyout) 16 of 19
Country (France) 14 of 17
Year (2021) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-26 7days

Lotte, Germany

7days is a supplier of modern and innovative workwear for medical professions. 7days designs, produces and distributes a wide range of high-quality workwear, from tunics to lab coats, for more than 300,000 customers in the healthcare sector in twelve countries, including Germany, Austria, Switzerland, France, Belgium, the Netherlands and Scandinavia. 7days has a vertically integrated business model with diversified supply chains and distributes its products through a fully integrated multi-channel distribution platform, including both catalog marketing and e-commerce channels. 7days was founded in 1999 and is based in Lotte, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-01 Eris

Ivry-sur-Seine, France

Eris is a provider of fire safety solutions. The company specializes in the field of maintenance and installation of equipment for the Fire Detection, Smoke Extraction and Electronic Security. Eris serves a B2B client base of over 1,000 customers in the private and public tertiary sector notably public buildings offering multi-brand installation, renovation and preventive and corrective maintenance services. Eris was founded in 1974 and is based in Ivry-sur-Seine, France.

Buy -

Seller(S) 1

SELLER

Activa Capital

Paris, France

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 400M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Activa Capital is a private equity investment firm that seeks to acquire and invest in mid-market French businesses operating in the industrial products, consumer goods, food and drink, pharmaceutical, business services, and financial services sectors. Activa looks to invest in companies with an enterprise value of €20 to €100 million and will consider majority investments in buyout situations as well as non-control positions in businesses looking for growth funding. Activa can commit in the range of €10 to €30 million per transaction and up to €60 million with co-investment. Target companies typically lead their sector or market and have positive/stable cash flow. Activa Capital was formed in 2000 and is based in Paris.

DEAL STATS #
Overall 18 of 19
Sector (Business Services) 3 of 3
Type (Secondary Buyout) 11 of 11
Country (France) 17 of 18
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-23 Active Assurances

Boulogne Billancourt, France

Active Assurances is an insurance broker specializing in the on-line sale of automotive insurance policies. Active Assurances in autonomous partnership with leading insurance companies, Active Assurances develops, distributes, and manages automotive insurance policies. Active Assurances based in Boulogne-Billancourt, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-09 BSK Immobilier

Labège, France

BSK Immobilier is a digital platform offering a complete range of services and tools with high added value for real estate agents. BSK Immobilier was founded in 2010 and is based in Labège, France.

Buy -
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