M&A Deal Summary

PAI Partners and Omnes Capital Acquire Vivarte SAS

On April 9, 2004, private equity firms PAI Partners and Omnes Capital acquired apparel/textiles company Vivarte SAS for 1.5B EUR

Acquisition Highlights
  • This is PAI Partners’ 2nd and Omnes Capital’s 3rd transaction in the Apparel/Textiles sector.
  • This is PAI Partners’ 7th and Omnes Capital’s largest (disclosed) transaction.
  • This is PAI Partners’ 11th and Omnes Capital’s 17th transaction in France.
Investment Fate
  • Vivarte SAS was sold to a consortium of financial buyers in 2007 for 3.3B EUR.

M&A Deal Summary

Date 2004-04-09
Target Vivarte SAS
Sector Apparel/Textiles
Buyer(s) PAI Partners
Omnes Capital
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 1.5B EUR

Target

Vivarte SAS

Paris, France
Vivarte is the #1 footwear and clothing retailer in France with an extensive portfolio of brands (including La Halle aux Chaussures, Chaussland, André, San Marina, Minelli in the shoe sector and La Halle, Kookaï, Liberto, Caroll in clothing). The company has a very strong position in the "value for money" segment of the market and is also active in Spain and Switzerland.

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Buyer(S) 2

Buyer

PAI Partners

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 16.2B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

PAI Partners is a European private equity firm that makes controlling equity investments in buyout transactions valued in excess of €300 million. PAI is particularly interested in 'investing in consolidating sectors and in markets where growth can be sustained through economic and financial market cycles.' Sectors of interest include consumer retail, professional distribution, building materials, infrastructure and utilities, media, IT, communications, food, consumer goods, healthcare, chemicals, automotive, aeronautics, paper & packaging, electrical appliances, and household equipment (heating, air-conditioning, security). The firms invest in the range of €100 - €300 million transaction. PAI was formed in 1998 and is based in Paris with additional offices in Madrid, Milan, Munich, Luxembourg, Copenhagen, and London.


DEAL STATS #
Overall 15 of 92
Sector (Apparel/Textiles) 2 of 4
Type (Buyout (LBO, MBO, MBI)) 13 of 30
Country (France) 11 of 41
Year (2004) 2 of 2
Size (of disclosed) 7 of 30
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-03-01 Elior SCA

Paris, France

France's leading concession and contract caterers, we invested €427m in a complex leveraged buyout to create Eliance, a new company that immediately became France's leading concession catering company.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-08-01 Antargaz SA

Courbevoie, France

Antargaz is the #2 distributor of liquefied petroleum gas ("LPG") in cylinders and bulk in France. In 2004, the company generated €680m in sales and employed 1,200 people.

Sell -
Buyer

Omnes Capital

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 5.7B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Omnes Capital formerly known as Credit Agricole Private Equity (CAPE) is the investment arm of financial services group Credit Agricole. Omnes Capital looks to invest in a range of investment stages and transaction types, including LBO/expansion, venture capital, mezzanine, renewable energy, co-investment, infrastructure, and special situations. The Firm's LBO/expansion group looks to invest €25 to €80 million to support growth initiatives and buyouts of small and mid-cap businesses operating in a variety of industries. Omnes Capital generally invests in businesses operating in France and Italy. Omnes Capital's mezzanine area was formed in 2002 and looks to provide €5 to €30 million of junior capital to similar sized established businesses. In addition to Omnes Capital's traditional equity and subordinated debt investment arm, the Firm also invests in infrastructure projects as well as provides capital for distressed businesses with €10 to €150 million in revenue. Omnes Capital was formed in 2004 and is based in Paris.


DEAL STATS #
Overall 21 of 162
Sector (Apparel/Textiles) 3 of 5
Type (Buyout (LBO, MBO, MBI)) 14 of 74
Country (France) 17 of 118
Year (2004) 2 of 7
Size (of disclosed) 1 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-02 Egencia

Seattle, Washington, United States

Egencia is an Internet travel agency that provided travel services exclusively to the corporate market. Egencia would offer comprehensive technology and customer solutions across every segment of business travel. Egencia was founded in 2000 and is based in Seattle, Washington.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-16 Pomme de Pain

Paris, France

Pomme de Pain is a major French sandwich chain with over 70 restaurants and 35 company-owned restaurants and franchised dealership.

Buy -