M&A Deal Summary

LBO France and ActoMezz Acquire Prenax

On October 30, 2020, asset manager LBO France and mezzanine finance firm ActoMezz acquired business services company Prenax from Andera Partners and ActoMezz

Acquisition Highlights
  • This is LBO France’s 6th and ActoMezz’s 3rd transaction in the Business Services sector.
  • This is LBO France’s 69th and ActoMezz’s 22nd transaction in France.

M&A Deal Summary
Date 2020-10-30
Target Prenax
Sector Business Services
Buyer(s) LBO France
ActoMezz
Sellers(s) Andera Partners
ActoMezz
Deal Type Secondary Buyout

Target

Prenax

Courbevoie, France
Prenax provides an outsourced procurement and management service for subscription-based resources to companies and institutions globally, supported by premium, dedicated customer service and a user-friendly platform. Prenax was formed in 1993 and is based in Courbevoie, France.

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Buyer(S) 2

Buyer

LBO France

Paris, France

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1985
PE ASSETS 5.4B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

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.

DEAL STATS #
Overall 81 of 91
Sector (Business Services) 6 of 6
Type (Secondary Buyout) 33 of 35
Country (France) 69 of 76
Year (2020) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-13 Demas

Rome, Italy

Demas is a distributor of veterinary products for pets. The company runs a wholesale distribution of veterinary products (medicines, anti-parasitic products, food supplements, etc.) to pharmaceutical wholesalers. Demas was formed in 1969 and is based in Rome, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-02 FH Orthopedics

Heimsbrunn, France

FH Orthopedics is an orthopedic company which designs, manufactures and commercializes prosthesis and the associated instrumentation. The company covers (i) joint replacement, i.e knee, and hip; (ii) prosthesis for shoulder and foot; (iii) sports surgery especially ligaments; and (iv) spine.

Sell -
Buyer

ActoMezz

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
PE ASSETS 711M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

ActoMezz is a mezzanine finance firm focused on small to mid-sized French companies. ActoMezz invests between €5 and €100 million and looks to work with sponsored and sponsorless investment groups and provide other financing needs. ActoMezz is based in Paris.

DEAL STATS #
Overall 22 of 42
Sector (Business Services) 3 of 4
Type (Secondary Buyout) 17 of 23
Country (France) 22 of 40
Year (2020) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-06 Opportunity

Paris, France

Opportunity is a saas platform that automates customer relationship across all channels using Conversational AI, VideoBot, digital catalog, voice signature and digital recovery in the same place helps to simplify customers experience. Opportunity was founded in 2005 and is based in Paris, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-06 Legal2Digital

Paris, France

Legal2Digital is an operator of digital solutions company dedicated to figures and legal professionals, through several lines of activity: Legal Announcement Newspapers published in three main economic areas (IDF, Rhône-Alpes, Marseille), Web services related to legal information, Advertising of auction sales and Services for formalities. Legal2Digital was founded in 2012 and is based in Paris, France.

Buy -

Seller(S) 2

SELLER

Andera Partners

Investor Investor Investor Investor

Category Private Equity Firm
Founded 2001
PE ASSETS 3.7B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Andera Partners is a private investment firm focused on several strategies. The Firm invests in life science opportunities through its BioDiscovery group. The Firm invests in Western European small to mid-sized companies (€30 to €300 million of revenue) through its Winch Capital group. Andera invests in small to mid-sized French companies (€10 to €100 million of revenue) through its Cabestan Capital team. Andera invests in €5 to €45 million of mezzanine capital to support small to mid-sized French companies. Andera Partners was established in 2001 and is headquartered in Paris.

DEAL STATS #
Overall 23 of 41
Sector (Business Services) 7 of 10
Type (Secondary Buyout) 8 of 15
Country (France) 18 of 30
Year (2020) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-01 Nyxoah

Mont-Saint-Guibert, Belgium

Nyxoah is a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA). Nyxoah was founded in 2009 and is based in Mont-Saint-Guibert, Belgium.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-06 Octime Group

Biron, France

Octime Group creates innovative packaged HR software solutions for time management and staff scheduling. Octime Group supports its clients abroad and it offers in several countries through its own agencies and local partners. Octime Group was founded in 1998 and is based in Biron, France.

Buy -
SELLER

ActoMezz

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
PE ASSETS 711M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

ActoMezz is a mezzanine finance firm focused on small to mid-sized French companies. ActoMezz invests between €5 and €100 million and looks to work with sponsored and sponsorless investment groups and provide other financing needs. ActoMezz is based in Paris.

DEAL STATS #
Overall 4 of 8
Sector (Business Services) 1 of 1
Type (Secondary Buyout) 3 of 5
Country (France) 4 of 7
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-06 Opportunity

Paris, France

Opportunity is a saas platform that automates customer relationship across all channels using Conversational AI, VideoBot, digital catalog, voice signature and digital recovery in the same place helps to simplify customers experience. Opportunity was founded in 2005 and is based in Paris, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-06 Legal2Digital

Paris, France

Legal2Digital is an operator of digital solutions company dedicated to figures and legal professionals, through several lines of activity: Legal Announcement Newspapers published in three main economic areas (IDF, Rhône-Alpes, Marseille), Web services related to legal information, Advertising of auction sales and Services for formalities. Legal2Digital was founded in 2012 and is based in Paris, France.

Buy -
Mergr

Product

Company

Legal