M&A Deal Summary

RAISE France, TowerBrook Capital Partners and CAPZA Acquire EPSA

On September 18, 2019, growth capital firm RAISE France, private equity firm TowerBrook Capital Partners and private equity firm CAPZA acquired business services company EPSA from Edmond de Rothschild Private Equity

Acquisition Highlights
  • This is RAISE France’s 3rd, TowerBrook Capital Partners’ 8th and CAPZA’s 9th transaction in the Business Services sector.
  • This is RAISE France’s 14th, TowerBrook Capital Partners’ 12th and CAPZA’s 65th transaction in France.

M&A Deal Summary

Date 2019-09-18
Target EPSA
Sector Business Services
Buyer(s) RAISE France
TowerBrook Capital Partners
CAPZA
Sellers(s) Edmond de Rothschild Private Equity
Deal Type Secondary Buyout
Advisor(s) BNP Paribas CIB (Financial)
White & Case (Legal)

Target

EPSA

Paris, France
EPSA is an international consulting group specializing in the optimization of operational performance. EPSA was founded in 2001 and is based in Paris, France.

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Buyer(S) 3

Buyer

RAISE France

Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2013
PE ASSETS 510M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

RAISE France is a private investment firm focused on investing in growth-oriented French companies with €30 to €500 million of revenue. Raise looks for situations where its capital and expertise can increase opportunities for expansion as well as further internal development. RAISE France was formed in 2013 and is based in Paris.


DEAL STATS #
Overall 14 of 22
Sector (Business Services) 3 of 4
Type (Secondary Buyout) 5 of 6
Country (France) 14 of 22
Year (2019) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-31 Forward Global

Paris, France

Forward Globals is a firm specialising in economic intelligence and cybersecurity. Forward Global operates in three key business areas online influential communication and anti-counterfeiting operations, cybersecurity, and international affairs. Forward Global was founded in 2010 and is based in Paris, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-27 Efor

Champagne-au-Mont-d'Or, France

Efor is a consulting group resolutely turned towards the individual which brings together consultants passionate about their professions. Efor was founded in 2013 and is based in Champagne-au-Mont-d'Or, France.

Buy -
Buyer

TowerBrook Capital Partners

New York, New York, United States


Category Private Equity Firm
Founded 2001
PE ASSETS 17.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TowerBrook Capital Partners is a private equity firm focused on leveraged buyouts, leveraged build-ups and distressed situation investments throughout North America and Europe. TowerBrook prefers control-oriented investments and actively pursues complex situations that other firms may avoid. Target sectors include consumer services, distribution, beverages, pharmaceuticals, media, technology, communications, software, and healthcare. TowerBrook Capital Partners was established in 2001 and is headquartered in New York City.


DEAL STATS #
Overall 65 of 100
Sector (Business Services) 8 of 14
Type (Secondary Buyout) 17 of 29
Country (France) 12 of 18
Year (2019) 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-19 Sports Capital Holdings

St. Louis, Missouri, United States

Sports Capital Holdings is the holding company for the partnership interests of the St. Louis Blues Hockey Club and the entities which hold the rights to operate the Scottrade Center arena in St. Louis, Missouri. The St. Louis Blues is a member franchise of the National Hockey League. The team was added in 1967 during the first NHL expansion and has been recognized historically as one of the NHL's strongest and most storied franchises.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-01 Compassus

Brentwood, Tennessee, United States

Compassus is an independent provider of hospice services in the United States. Compassus cares for its patients through over 135 locations in 29 states across the U.S., serving them wherever they call home (primarily homes, nursing homes, and assisted living facilities.) Compassus plays a key part in patients’ lives as they transition from acute to non-curative, post-acute care settings, and seeks to provide timely quality care, pain and symptom management, and emotional support through leveraging interdisciplinary care teams and data-driven insights. Compassus was founded in 1979 and is based in Brentwood, Tennessee.

Buy -
Buyer

CAPZA


Category Private Equity Firm
Founded 2004
PE ASSETS 9.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

CAPZA is a provider of equity and junior capital to small and medium-sized unlisted French companies. CAPZA does not have any sector preferences and looks to invest in companies valued from €20 to €400 million. CAPZA was formed in 2004 and is based in Paris.


DEAL STATS #
Overall 75 of 116
Sector (Business Services) 9 of 15
Type (Secondary Buyout) 25 of 34
Country (France) 65 of 101
Year (2019) 7 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-11 Audensiel

Boulogne-Billancourt, France

Audensiel is a consulting company specialised in technological innovation and digital transformation. Audensiel was founded in 2012 and is based in Boulogne-Billancourt, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-07 Nexeya SAS

Chatenay-Malabry, France

NEXEYA is an engineering company which designs, manufactures, tests and maintains critical electronic systems. NEXEYA supplies products and solutions to aircraft OEMs, both civil and military, as well as their equipment manufacturers. The company is involved in all stages of development and life cycle of an aircraft, from the design and validation of prototypes to their maintenance.

Sell -

Seller(S) 1

DESCRIPTION


DEAL STATS #
Overall 25 of 27
Sector (Business Services) 3 of 3
Type (Secondary Buyout) 10 of 10
Country (France) 18 of 20
Year (2019) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-20 SuperSonic Imagine

Aix-en-Provence, France

SuperSonic Imagine is a development and commercialization of a new ultrasound system for diagnosis of cancers. SuperSonic Imagine was founded in 2005 and is based in Aix-en-Provence, France.

Sell $42M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-26 AB Process

Landivisiau, France

AB Process designs and integrates custom robotic and automated solutions to automate processes, in particular end-of-line automation for the food industry. The group works with its clients from design to delivery of turnkey projects. AB Process was formed in 2008 and is based in Landivisiau, France.

Buy -