Private equity: LBO in France

Latham & Watkins

Latham & Watkins combines a deep bench with longstanding experience and complementary strength in leveraged finance, making the group a titan in the market. The team acts on the biggest LBO transactions in France and has a wide range of expertise in the buy-outs of private and public companies, including competitive auctions, carve-outs and joint ventures. The practice attracts a stellar and varied client list that features fund sponsors, investors, banks and sellers alike. The key contacts are Alexander BenedettiDenis CritonAlexander CrosthwaiteThomas ForschbachGaëtan GianassoCharles-Antoine Guelluy and Olivier du Mottay.

Testimonials

The corporate practice is unique in terms of skills.

Denis Criton is one of the best private equity lawyer in the French market.

Key clients

Ardian

Astorg

BC Partners

Bridgepoint

CMP Capital Management Partners

Eurazeo

ICG

PAI Partners

TA Associates

Work highlights

  • Advised BC Partners on its €3.25n sale of Antelliq Group to Merck.
  • Assisted KKR and the founders of Webhelp with the €2.4bn sale of Webhelp to Groupe Bruxelles Lambert.
  • Advised Ardian on its €1.35m sale of Siaci Saint Honoré to its management together with Charterhouse.

Weil, Gotshal & Manges LLP

Private equity heavyweight Weil, Gotshal & Manges LLP remains among the most active practices in the market. Visible across all market segments, including the large-cap, the group primarily acts for private equity sponsors and further strengthened its standing in the market with the arrival of Benjamin de Blégiers from Clifford Chance in April 2019, signalling the expansion of the team's infrastructure practice. The workload attests to the practice's wide sectorial range and prowess in cross-border matters, and it has recently been active in the technology, pharmaceutical, and healthcare and consumer product sectors. David Aknin directs the practice. Also noted are Jean BeauchataudFrédéric CazalsAlexandre Duguay and Emmanuelle Henry.

Practice head(s):

David Aknin

Testimonials

Very switched on and commercial professionals. Very entrepreneurial and extremely client-focused. A pleasure to work with them.

Benjamin de Blégiers is practical with great commercial acumen and extremely client-oriented.

Key clients

3i

Advent International

Antin Infrastructure

Carlyle

EQT

Equistone

Montagu Private Equity

Ontario Teacher’s Pension Plan

PAI Partners

Weinberg Capital Partners

Work highlights

  • Advised CVC on the €2.2bn sale of Linxens to Tsinghua Unigroup.
  • Assisted Montagu with the €1.025bn sale of Nemera to Astorg and the 50% reinvestment of Montagu.
  • Advised Oaktree on the disposal of Verescence to Stirling Square Capital Partners for a total in excess of €100m.

Bredin Prat

Bredin Prat impresses with its wide private equity offering, including a strong transactional practice in addition to stellar tax structuring credentials and a strong financing team. The group regularly acts for French and international investment funds, but also assists family offices, smaller funds and shareholders of target companies in the context of buy-out operations. Domestic transactions account for the bulk of the workload, but the practice also demonstrates strength in cross-border matters, particularly in cases involving the US and Canada. Florence Haas is the key practitioner. Olivier Assant and Adrien Simon are also active in the space.

Testimonials

Very business- and solution-oriented. Availability around the clock to get the job done. Very up-to-date knowledge of the market practice.

Available, technically very competent, yet commercial. Very friendly team.

Olivier Assant: very commercial, knows how to draw the big picture.

Florence Haas: very diligent, technically precise, amazing work ethic.

Florence Haas: excellent knowledge of the market. Very solution-oriented and business-oriented in approach. Excellent at managing opposing counsel. Relentless efforts to find common ground and help to get the deal done.

Key clients

Apax France

Blackstone

Bridgepoint Capital

Carlyle

Dentressangle Initiatives

Eurazeo

Five Arrows

KKR

Tethys Invest

Wendel

Work highlights

  • Advised Five Arrows Principal Investments on its attempt to acquire Eres, a specialist in employee savings plans.
  • Advised Equistone Partners Europe on the acquisition of Courir from Groupe Go Sport for a total of €283m.

Clifford Chance

Clifford Chance impresses with its wide sectorial range; track record as adviser on large buy-out transactions in the French market; high volume of transactions; ancillary strengths in financing, fund formation, tax structuring and M&A; and cross-border strength. Core sectors include the consumer goods and retail sectors, the healthcare and telecoms sectors, the financial services sector as well as the aerospace and defence sectors. Fabrice Cohen and Marianne Pezant are the practice heads. Gilles Lebreton and Laurent Schoenstein are other key contacts. Infrastructure specialist Benjamin de Blégiers joined Weil, Gotshal & Manges LLP in April 2019.

Practice head(s):

Fabrice Cohen; Marianne Pezant

Testimonials

Very good knowledge of PE industry practices. Solid understanding of commercial matters. Ability to put themselves in lenders’ position to understand key potential issues.

General availability, professionalism, ability to put forward ideas to sort out difficult situations.

Key clients

3i

Apax Partners

Ardian

Bridgepoint

Capzanine

Cinven

Goldman Sachs

Permira

SCOR Investment Partners SE

Wendel

Work highlights

  • Advised Primonial group and Primonial managed entities on their 50% investment in a healthcare real estate portfolio in Germany, owned by Medical Properties Trust, for a total in excess of €1.635bn.
  • Assisted the consortium composed of APG, QIC and Swiss Life with its acquisition of a 36% stake in Brussels Airport.
  • Advised PAI Partners on the €1.9bn disposal of the B&B Hotels group to Goldman Sachs.

De Pardieu Brocas Maffei

De Pardieu Brocas Maffei remains a go-to firm for mid-market leveraged buy-outs and has strong transactional expertise in addition to strong financing and tax credentials. Distressed LBO transactions are another area of strength. The group is experienced in advising buyers and sellers, but also has notable expertise acting for managers. Domestic transactions account for the bulk of the workload, but the team is also adept at assisting with cross-border matters. Matthieu Candia was promoted to counsel in April 2019 and tax specialist Priscilla van den Perre was made up to partner in July 2019. Practice heads Jean-François Pourdieu and  Cédric Chanas are the key names. Tax partner Nadine Gelli joined Kirkland & Ellis LLP in January 2020.

Testimonials

Real experts in their field. Irreproachable involvement in the matters. Remarkable attitude during negotiations.

Cédric Chanas is an excellent professional and gets along very well with the managers of small and medium-sized enterprises.

Key clients

21 Centrale Partners

Ardian

CM-CIC Investissement

Cathay Capital

Five Arrows Managers

Idinvest

Nixen Partners

Siparex

Tikehau

UI Gestion

Work highlights

  • Advising Weinberg Capital on the sale of its 66% stake in Agence pour la Diffusion de l’Information Technologique to Parquest Capital for a total of €130m.
  • Acted for Dentressangle on the €370m acquisition of a majority stake in French medtech company Acteon Group from Bridgepoint Development Capital.
  • Advised EMZ, Tikehau Investment Management and Idia on their acquisition of a minority stake in the capital share of Spie Batignolles alongside 200 new managers, Société Générale Capital Partenaire and Socadif.

DLA Piper

DLA Piper has further bolstered its numbers at partner level with the promotion of Matthieu Lampel, a specialist in leveraged buy-outs, restructuring and M&A, in May 2019. The group stands out for its ability to assist with transactions across all market segments and acts for managers and private equity sponsors alike. As part of a global law firm, the Paris team is well placed to advise on transactions with a strong cross-border component and frequently joins forces with colleagues from the firm's offices abroad. Xavier Norlain and Jeremy Scemama are the heads of the practice. Fund formation specialists Benjamin AllerJulien Vandenbussche and senior counsel George Pinkham are also noted.

Practice head(s):

Xavier Norlain; Jeremy Scemama

Testimonials

Committed and highly experienced. Ability to manage large as well as small deals.

Key clients

Andera Partners

Bridgepoint

Capzanine

Carlyle

Eurazeo

Hivest Capital Partners

Montefiore Investment

PAI Partners

Rothschild & Co

Tikehau Capital

Work highlights

  • Advised the management of B&B Hôtels Group on exclusive negotiations with PAI Partners for the acquisition of B&B Hôtels Group by the Merchant Banking Division of Goldman Sachs.
  • Assisted the founders and management of Circet with the sale of their participation in Circet and the reinvestment alongside Advent International.
  • Advised Bridgepoint on the acquisition of a majority interest in HTL Biotechnology Group.

Freshfields Bruckhaus Deringer LLP

Goodwin

Goodwin excels in domestic and cross-border mandates thanks to the strong Paris team and the firm's international network, including particularly strong practices in the UK and the US. Active across all market segments in France, the practice is part of the full-service private equity offering in Paris and counts investors, portfolio companies and management teams among its clients. Key practitioners include practice head Maxence BlochJérôme JouhanneaudThomas MaitrejeanChristophe Digoy and Thomas Dupont-SentillesPierre-Louis Sévegrand joined Chammas & Marcheteau in January 2019.

Practice head(s):

Maxence Bloch

Testimonials

The team acts as one squad, shares the same culture and solution-driven mindset.

Christophe Digoy is a wonderful lawyer. Pragmatic, smart, available, bold, focused and efficient.

David Diamant is a clever lawyer. He has an incredible sense of the legal matter. He is well organised and delivers a very good job.

Work highlights

  • Advised Exclusive Group and its management on a new investment from Permira.
  • Acted for Equistone Partners Europe on the sale of Averys to Blackstone.
  • Advised Albingia and its management on the sale of the group to Eurazeo.

Linklaters

Linklaters combines a strong international platform with a wide-ranging private equity offering from the Paris office, and is also able to draw on practitioners from the firm's tax, infrastructure, real estate, restructuring, financing and competition law practices. The group has a broad spectrum of expertise, including primary and secondary buy-outs, infrastructure buy-outs and distressed LBO transactions. Fabrice de la Morandière and Bruno Derieux are the practice heads. Other key names include Pierre Thomet and Marc Petitier; the latter handles transactions across all market segments, and has been kept busy recently advising on large-cap and upper mid-cap transactions. Vincent Ponsonnaille and Laurent-Victor Michel joined Kirkland & Ellis LLP in January 2019.

Key clients

Access Industries

Advent International

Apax Partners

Ardian

CVC Capital Partners

Deutsche Bank AG

Montagu Private Equity

PAI Partners

Rothschild

Wendel

Work highlights

  • Advised Apax Partners on the €800m sale of Inseec U., a group of management and business schools with operations in France, Europe, the US and China, to Cinven.
  • Assisted Ardian with the sale of a portfolio of infrastructure and energy assets across Europe for a total in excess of €1bn.
  • Advised the founder, shareholders and managers of Magnolia on the leveraged buy-out sponsored by Qualium Investissement, maintaining the founder as majority shareholder of Magnolia and introducing Qualium Investissement as minority stakeholder.

Paul Hastings LLP

Paul Hastings LLP is a popular choice for mid-market transactions, but is increasingly visible in large-cap transactions, often involving a cross-border component. The group successfully attracted a number of new clients and continues to gain in market share, not least because of the strength of the firm's finance, tax, employment and competition teams in the Paris office, which enable the practice to offer its clients a well-rounded service. Olivier Deren heads the practice and leads on the bulk of the workload, with key support from Sébastien CrepyAlexis Terray is also noted. Charles Cardon joined from Dechert LLP in September 2019.

Practice head(s):

Olivier Deren

Testimonials

Unique knowledge of PE best practices, very responsive and efficient to win a deal.

Excellent team with both highly reputable domestic base and international network.

Paul Hastings is a strong firm with technical, bright people.

Olivier Deren is extremely solid and reliable.

Sébastien Crepy is great to work with, detail-oriented, a dedicated and strong professional, but easygoing.

Key clients

21 Centrale Partners

Amundi

Andera

Capzanine

Equistone

Gimv

Eurazeo

Meeschaert Capital Partners

Parquest Capital

Qualium Investissement

Work highlights

  • Advised CM-CIC Investissement and Omnes Capital on the €1bn sale of telecoms infrastructure services company Circet Groupe to Advent International.
  • Acted for 21 Invest France on the leveraged buy-out of Skill & You by Andera Partners.
  • Provided strategic and legal counsel to Equistone Partners Europe on the leveraged management buy-out of the Luxembourg-based Wallenborn Group.

Scotto Partners

Independent corporate boutique Scotto Partners remains the go-to firm for management packages. The group has an outstanding track record handling the biggest transactions in the market and is able to draw on colleagues from the tax and employment departments to advise on related legal issues arising for managers in the context of leveraged buy-outs. The group handles domestic and cross-border transactions alike. Lionel Scotto le MasseseNicolas Menard-DurandClaire Revol-Renié and Isabelle Cheradame are the key contacts.

Key clients

Buffalo Grill

Comexposium

Etanco

Indigo

Loch Lomond

MC2i

Proxiserve

Sulo

Technicis

Wallenborn

Work highlights

  • Advised Indigo Group’s management on the disposal of an Ardian stake to Mirova and Meag.
  • Assisted the top managers of Sulo (formerly Plastic Omnium Environnement) on the Sulo carve-out in the form of an LBO transaction led by a consortium formed of Latour Capital and Bpifrance.
  • Acted for the top managers of Saur on the €1.5bn acquisition of Saur by EQT.

White & Case LLP

White & Case LLP's private equity team was strengthened by the arrival of former Orrick Rambaud Martel practitioners Saam GolshaniAlexis HojabrGuillaume Vitrich and counsel Julien Bensaid in December 2018, which also increased the firm's restructuring and M&A clout in Paris. Cross-border transactions are the group's mainstay, but the team is also well versed in domestic buy-outs. The ability to advise on large-cap and mid-market deals in combination with the Paris office's wider service offering, including finance, capital markets, tax, employment and real estate, make the group the adviser of choice for an ever-growing list of big private equity houses. Golshani and Vincent Morin head the practice. François Leloup, Nathalie Nègre-Eveillard and Guillaume Vallat are other key contacts. Camille Note, previously a counsel at the firm, left for InfraVia Capital Partners in October 2018.

Practice head(s):

Saam Golshani; Vincent Morin

Key clients

Access Capital Partners

Boussard & Gavaudan

Carlyle Group

Crédit Agricole CIB

Cube Infrastructure

Eurazeo

Groupe Colisée

Oaktree Management Capital

Sogecap

Wendel

Work highlights

  • Advised BC Partners on the acquisition of Sistemia S.p.A. from KKR.
  • Acted for IK Investment Partners as equity sponsor and Colisée Group on the acquisition of Armonea Group.

Willkie Farr & Gallagher LLP

Willkie Farr & Gallagher LLP has longstanding presence in the market and particular strength in cross-border transactions, but is also experienced in domestic matters. The team has seen an uptick in work in the growth sector of the French market, but maintains its ability to advise on transactions across all market segments, from small-cap buy-outs to large-cap deals. Eduardo FernandezChristophe Garaud and Cédric Hajage are the practice heads. Gabriel Flandin, whose specialisms include private equity deals, M&A, corporate governance and joint ventures, made partner in January 2019.

Key clients

Aleph Capital

Carlyle

CVC Capital Partners

Ekkio Capital

Latour Capital

PAI Partners

Palamon Capital Partners

Qualium Investissement

Warburg Invest

Weinberg Capital Partners

Work highlights

  • Advised PAI Partners on the €600m acquisition of Stella.Group, the market leader in France for the production of doors, gates, shutters and enclosures, from Intermediate Capital Group.
  • Acted for French frozen bakery specialist Mademoiselle Desserts on its acquisition of Pâtisserie Michel Kremer.
  • Advised Latour Capital on its acquisition of Atlas for Men, making Latour Capital a majority shareholder.

Allen & Overy LLP

Practice head(s):

Marc Castagnède; Romy Richter

Key clients

Weinberg Capital Partners

Eurazeo

PAI Partners

Ardian

BNP Paribas

Société Générale

Natixis

LFPI Gestion

Goldman Sachs

Natixis

Advent International

CM CIC

Chequers Capital

Work highlights

  • Advised Weinberg Capital Partners on its acquisition (together with Groupe Philippe Ginestet) of Besson Chaussures, a subsidiary of Vivarte Group.
  • Advised Eurazeo Patrimoine, the Eurazeo division dedicated to investment in real assets, and in particular to real estate, on the acquisition of Euston House, a London office building, alongside Arax Properties.
  • Advised CM-CIC Investissement on its investment in Voyageurs du Monde, a French leader travel agency specialising in tailor-made trips.

Desfilis

Testimonials

‘Very robust team, able to handle efficiently, perfectly managing the time frame, any issue on a PE deal. High availability for clients, dedicated team.’

Key clients

Sparring Capital

EMZ Partners

Naxicap

Onepoint

Delachaux family

PIM and Kleboth family

Eurazeo PME

Managers of Sogal

Managers of Lanvin

Managers of Questel

Managers of Shark Helmet

Founding shareholders of Bee2link

Work highlights

  • Advising the founding shareholders of Bee2link, a software publisher for the automotive distribution business, on the 30% entry of Bridgepoint Development Capital into its capital.
  • Acted for Onepoint on its fundraising with Metric Capital Partners and on its merger with Weave.
  • Advised the sellers, the fund PIM Participations and the Kleboth family, as part of the takeover of the Babou family’s 95 low-price stores by B&M European Value Retail.

Hoche Société d’Avocats

Practice head(s):

Jean-Luc Blein

Work highlights

  • Advised Omnes Capital on the LBO of Belgian consultancy firm Intys.
  • Advised Go Sport France on the sale of its activity and its website ‘Tool Fitness’.
  • Acted for Canal+ and Groupe Les Echos on the acquisition of Mezzo channel.

Jeausserand Audouard

Key clients

Revima

Digit RE

Naf Naf

Eloquant

Delachaux

My Media

Besson

Eminence

Inseec U

Webhelp

Celeste

Smile

Adit

Massena

Fiven

Proengin

Groupe Silvya Terrade

Work highlights

  • Assisting the managers of Revima with its management package concerning the acquisition of the group by Ardian.
  • Assisting the managers of Digit RE with its management package regarding the acquisition of the group by LFPI.
  • Assisting Naf Naf’s management team on its management package regarding its acquisition by La Chapelle.

Kirkland & Ellis LLP

Key clients

Advent

Apax

Bain Capital

BC Partners

Blackstone

Brookfield

Carlyle

EQT

Goldman Sachs Merchant Banking Division

Ontario Teachers’ Pension Plan

Partners Group

Searchlight Capital

Warburg Pincus

Work highlights

  • Advised Goldman Sachs Merchant banking division on the acquisition of the B&B Hotels chain from PAI Partners.
  • Advised Bain Capital Private Equity on its acquisition of a majority stake in Maesa.
  • Acted for Searchlight Capital on the acquisition of a 26% stake in aircraft components provider Latécoère SA.

LL Berg

Practice head(s):

Olivier Abergel

Work highlights

    Mayer Brown

    Practice head(s):

    Guillaume Kuperfils

    Testimonials

    ‘Technical knowledge, availability, experience. Strong expertise and good interpersonal skills.’

    Key clients

    Primonial

    Intermediate Capital Group

    Oberthur Technologies

    SMCP Group

    IPH (Industrial Parts Holding)

    LBO France

    Chequers Capital

    Eurazeo

    Sagard

    Oaktree Capital

    Argos Wityu (ex Argos Soditic)

    Bridgepoint

    Activa Capital

    Catterton Europe

    Raise Equity

    Quilvest Private Equity

    Parquest Capital

    Emz Partners

    Ophiliam Management

    Eight Advisory

    IDI

    Accorinvest

    Geoxia

    UI Gestion

    Abenex Capital

    Colony Capital

    21 Partners

    Cogepa

    Alpha Group

    Work highlights

    • Advised private equity fund Quilvest on the corporate aspects of the sale to Latour Capital of Sogetrel, a leading specialist of networks and communication systems.
    • Advised private equity fund LBO France on the acquisition of Moustache Bikes, an electric bikes manufacturer, along with managers and Arkea Capital, from Initiative & Finance and founders with regard to the corporate, structuring and financial aspects of a €150m LBO transaction.
    • Acted for private equity fund Meeschaert Capital Partners on the acquisition of 2BR Mobilité.

    McDermott Will & Emery AARPI

    Key clients

    Montefiore Investment

    Siparex

    COBEPA

    Andera

    Capzanine

    Azulis

    Ardian

    Péchel Industries

    Activa Capital

    Quilvest PE

    GIMV

    Eurazeo PME

    Abénex

    Argos Wityu

    Sagard

    Antin Infrastructure

    Platina Partners

    Chequers

    Five Arrows Private Equity

    HLD

    MBO Partenaires

    Sagard

    21 INVESTMENTS

    Florac

    Galiena Capital

    G SQUARE

    IK Investment Partners

    Vaisala

    Hana Group

    Atlas For Men

    Geodesial

    Sogetrel

    ProNatura

    Vacanceselect

    Group Label

    Ubitransport

    Work highlights

    • Assisted Montefiore Investment with the acquisition of Gandi.net.
    • Advised Siparex ETI on signing an acquisition agreement with India’s Sintex Group for the buyout of its European subsidiary Sintex NP, with the support of its management team.
    • Advised Cobepa and its portfolio company Socotec, an inspection and certification specialist in construction and infrastructure, on the acquisition of Vidaris, an American company specialising in the same field.

    Orrick Rambaud Martel

    Practice head(s):

    Patrick Tardivy

    Key clients

    3i

    Advent International

    Capzanine

    AXA Reim

    CNP Assurances

    DIF

    EOS Holding

    Impax Asset Management

    LBO France

    Malakoff Médéric

    Schröders

    Société Générale Insurance

    TVM Capital Life Science

    Work highlights

    • Advising 3i on the acquisition of Ionisos group from investment fund Ardian.
    • Acted for AXA Infrastructure Equity and Crédit Agricole Assurances on exercising their right of first offer to acquire from DIF an additional 9.22% of share capital and voting rights of Atlandes (A63 motorway).
    • Assisted Société Générale Insurance with its €85m acquisition of InfraVia Capital’s stake in Régaz – Bordeaux.

    August Debouzy

    Testimonials

    ‘The M&A team is very good as well as the other teams involved. Professional and efficient. I have worked with Julien Aucomte (M&A partner) on several occasions. High level of expertise. Always calm and focused. Great business judgement. Capacity to develop innovative/pragmatic solutions. Key asset in negotiations. I definitely recommend Julien.’

    Key clients

    Argos Wityu

    Raise Investissement

    Merdiam

    Swiss Re

    Groupe La Maison Bleue

    Infravia Capital Partners

    Quadran

    The Klesch Group

    Caisse des dépôts et consignations

    SIA Partners

    Ecore-GDE

    BPI

    Bridgepoint

    Cathay Capital

    I Squared Capital

    Work highlights

    • Advised Spirax-Sarco Engineering on the acquisition of the entire share capital of the French group of thermal energy solutions Thermocoax from Chequers Capital, TCR Capital and other minority shareholders.
    • Assisted Thales with the acquisition of Ercom and Suneris from BPI France, Ineo, Tempocap, Trocadero, Madère and the unwinding of the existing management package in the context of an LBO exit.
    • Advised, in the context of a build-up following the LBO by Raise Investissement, Artémis Courtage, a company specialising in financing for individuals, businesses and professionals, on the acquisition of FLG Finance.

    Dechert LLP

    Practice head(s):

    François Hellot

    Testimonials

    ‘Great team. Combines complementary talents. Dedicated and very reactive. François Hellot is beyond the pure legal know-how, very business oriented which is extremely valuable in LBO.’

    Key clients

    Caravelle

    HGH Infrared Systems

    Certares

    Marquetis

    HysetCo

    Five arrows

    Eurazeo PME

    Cathay Capital

    Work highlights

    • Advised Caravelle, a French investment company, on its acquisition of Luneau Technology Group, a specialist in eye care professional products.
    • Acted for infrared technology company HGH Infrared Systems on its exclusive negotiations with US-based private equity company The Carlyle Group for the acquisition of a majority stake in HGH alongside the management team.
    • Assisted Certares, a private equity firm focusing on the travel and tourism industries, with its investment in Marietton group, a leading tour operator and travel agent in France.

    Gibson Dunn

    Practice head(s):

    Bernard Grinspan; Ariel Harroch

    Key clients

    Brookfield

    KKR

    Propel Equity Partners

    L Catterton

    Coffim

    TPG

    Bpifrance

    Argos

    Alliance Entreprendre

    OFI asset management

    Work highlights

    • Advised Brookfield on the acquisition of a controlling interest in a group of companies comprising three broad business operations, being a French student housing business, a hotel apartment operator business and a construction and development business.
    • Acted for Propel Equity Partners on the sale of leading toy manufacturing group Juratoys to French fund Argos Wityu.
    • Advised private equity firm Bpifrance Investissement on the acquisition with Latour Capital funds of Plastic Omnium Environnement.

    Lamartine Conseil

    Opleo Avocats

    Testimonials

    ‘Good knowledge and experience on LBO management packages.’

    Key clients

    Edgewhere

    Stephenson Harwood

    Practice head(s):

    Patrick Mousset; Yann Beckers

    Key clients

    Siaci Saint-Honoré

    GDE Groupe Ecore

    AD Education

    Work highlights

    • Assisting with renegotiating the management package of Ecore Group in the context of a high-yield refinancing of €250m.
    • Advised the shareholders and the management of the AD Education network in lights of the entry of PE funds Cathay Capital Private Equity and Bpifrance as minority shareholders.
    • Alongside Scotto & Associés, advised Siaci Saint-Honoré’s management on setting up a management package.