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M&A Deal Summary

Credit Mutuel Equity and Trail Capital Acquire AMS

On February 1, 2011, asset manager Credit Mutuel Equity and private equity firm Trail Capital acquired healthcare services company AMS from CAPZA

Acquisition Highlights
  • This is Credit Mutuel Equity’s 1st and Trail Capital’s 1st transaction in the Healthcare Services sector.
  • This is Credit Mutuel Equity’s 37th and Trail Capital’s 11th transaction in France.
Investment Fate
  • AMS was sold to a strategic buyer in 2015.

M&A Deal Summary
Date 2011-02-01
Target AMS
Sector Healthcare Services
Buyer(s) Credit Mutuel Equity
Trail Capital
Sellers(s) CAPZA
Deal Type Secondary Buyout

Target

AMS

Cedex, France
AMS (Assistances Médicales Spécialisées) home support market distributing specific medical equipment for: respiratory diseases, insulinotherapy, stomathology-urology, enteral nutrition.

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Buyer(S) 2

Buyer

Credit Mutuel Equity

Investor Investor Investor Investor Investor

Category Asset Manager
PE ASSETS 4.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

CM-CIC Investissement is a financing and advisory group focused on supporting a variety of small to mid-sized companies operating in Western Europe. The Firm looks to fund businesses at all investment stages including venture, growth, and buyout situations. In addition to providing financing, CM-CIC also offers M&A advisory services. CM-CIC Investissement is based in Paris.

DEAL STATS #
Overall 40 of 188
Sector: Healthcare Services M&A 1 of 2
Type: Secondary Buyout M&A Deals 4 of 21
Country: France M&A 37 of 161
Year: 2011 M&A 5 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-05 Altair

Wasquehal, France

Altair is a manufacturer and distributor of cleaning and home care products and household insecticides sold mainly through specialized channels. Altair was founded in 1946 and is based in Wasquehal, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-02-24 Airtag SA

Paris, France

Airtag SA is a French startup specialized in innovative mobile payment solutions. AirTag develops secure mobile transaction solutions for banks, payment networks and retail. The company developed AirPass, a "virtual bank card" solution using HCE* (Host Card Emulation) technology and based on a proprietary Tokenization platform (involving a single-use payment token), now being deployed by major players in the e-payment sector. AirTag also offers retail customers an innovative e-wallet service called AirShop, providing payment, loyalty and other smartphone-based services.

Buy -
Buyer

Trail Capital

Paris, France

Investor Investor Investor Investor

Category Private Equity Firm
Founded 2007
PE ASSETS 750M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Trail Capital is a private equity firm focused on small to medium-sized French companies. Trail looks to make control equity investments and seeks to commit €20 to €50 million per transaction. The Firm is a 'hands on' investor and looks to work alongside management in building companies. Trail Capital was formed in 2007 and has offices in Paris, Beijing, and Luxembourg.

DEAL STATS #
Overall 11 of 25
Sector: Healthcare Services M&A 1 of 1
Type: Secondary Buyout M&A Deals 4 of 8
Country: France M&A 11 of 22
Year: 2011 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-10-21 Europe Snacks

Saint-Denis-la-Chevass, France

Europe Snacks provides private-label salted snacks but also operates in the entry price and hard discount sectors. Europe Snacks develops, produces, and markets many product references of savory snacks, across 6 product ranges: extruded products, crisps, stacked crisps, crackers, popcorn, and corn-based snacks. Europe Snacks was founded in 1991 and is based in Saint-Denis-la-Chevass, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-03-01 Courtepaille

Courcouronnes, France

Courtepaille is a chain of grill restaurants across France that follow a uniform concept. Courtepaille was established in 1961 and is based in Courcouronnes, France.

Buy $160M

Seller(S) 1

SELLER

CAPZA

Investor Investor Investor Investor Investor

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 4 of 49
Sector: Healthcare Services M&A 1 of 1
Type: Secondary Buyout M&A Deals 3 of 33
Country: France M&A 4 of 45
Year: 2011 M&A 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-01 Doucet Group

Paris, France

Doucet Group is a manufacturers of cleaning products, insecticides and dyes for professionals and consumers.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-03-29 Apixit

Les Ulis, France

Apixit is a provider of integrating IT infrastructure and telecom solutions. Apixit has developed a comprehensive round of audit and consulting services to help effectively upstream of the project. Company design office can provide an effective technology watch from different manufacturers and publishers in the market. Apixit was founded in 1992 and is based in Les Ulis, France.

Buy -
Mergr

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