Scotto Partners > Paris, France > Firm Profile

Scotto Partners
12/14, Rond-Point des Champs-Elysées
75008 Paris
France

France > Private equity: LBO Tier 2

Scotto Partners advises top executives, managers, and founders on mid and large-cap mandates. The team is notable for its strength advising on management packages, drawing on cross-practice expertise in tax, M&A, corporate finance, and employment law to provide clients with a comprehensive service. The practice is jointly led by Lionel Scotto le MasseseClaire Revol-ReniéIsabelle CheradameAdrien Badelon and Jérôme Commerçon.

Practice head(s):

Lionel Scotto le Massese; Claire Revol-Renié; Isabelle Cheradame; Adrien Badelon; Jérôme Commerçon

Testimonials

‘Scotto’s practice is not only unique but rare: the price point of working only for management teams is the key. All other business law firms are dependent on client funds which provide a significant flow of business; their independence is therefore called upon when it comes to advising management teams. Scotto fulfils this role perfectly. Moreover, having adopted this positioning for a long time, Scotto has a focus on management package practices, with which even its direct competitors cannot compete.’

‘Very committed and competent team, also attentive to our concerns. Efficient use of new technologies and total availability!’

‘Good team; very complete and available when we have an intense period that requires their presence. Very professional and reassuring in their approach, they provide all the necessary services to the management team.’

‘One of the most experienced teams on LBO deals with the ability to provide solutions on operations of great complexity, both in terms of management advice and legal and tax structuring. Have the ability to implement incentive plans for management teams that are complex and large in terms of the number of people involved.’

‘Lionel Scotto: ability to find solutions to complex situations – strong reactivity. Adrien Badelon: ability to defuse potential conflicts and execute complex operations – excellent monitoring of post transaction operations.’

‘They are the pioneers of management advice in the context of LBO operations. They have a deep knowledge of the players’ market and the practices of each of the players.’

‘I last worked with Isabelle Cheradame and her collaborators. They are efficient, rigorous, pragmatic. In other words, they are deal-makers. More particularly Isabelle possesses the gentleness and firmness necessary in negotiations to act in the best interests of her clients.’

‘Claire Revol-Renié has a lot of experience and great professionalism. Very strong in negotiation, and anxious to always defend the best interests of her clients.’

Key clients

Greenyellow

Imerys HTS

Arkopharma

Linxis

Kiloutou

Indigo

Mail in Black

Lapeyre

Diot-Siaci

Adista

Wifirst

Vinventions

Agora Technologies

+Simple

Rydoo

Aquilus

ISGA

Eidosmedia

Work highlights

  • Advising the managers and founders of Greenyellow on the sale by Casino of its majority stake to Ardian Infrastructure (Casino, BPI and Tikehau rolling over as minority investors in the next transaction).
  • Advised the management team of Siaci on the dual transaction comprising (i) the consolidation of Siaci and Burrus Group and (ii) the purchase by Siaci management team, Mr Christian Burrus and various investment funds of the Charterhouse’s and Ardian’s former stakes in Siaci.
  • Advised the founder and rest of the management team in the purchase by Capza (new majority financial investor) of Amundi and BPI’s previous stake (who rolled over as minority financial investors).

France > Tax Tier 4

Scotto Partners excels at advising companies' management on the structuring of their managers' incentive tax packages during large LBO and corporate transactions undertaken by leading investment funds. The tax team works on the largest transactions in that area. It also advises companies' management on the tax restructuring of incentive packages. Jérôme Commerçon heads the team.

Practice head(s):

Jérôme Commerçon

Testimonials

‘Jérôme Commerçon’s tax team is well organized and supports well management teams.’

‘Jérôme Commerçon is an excellent technician who demonstrates great pragmatism, which allows transactions to progress serenely.’

Key clients

Greenyellow

Imerys HTS

Arkopharma

Mail in Black

Linxis

Kiloutou

Lapeyre

Diot-Siaci

Adista

Wifirst

Akuo

Molotov

Minitubes

Vinventions

Agora Technologies

+Simple

Rydoo

Aquilus

ISGA

Eidosmedia

Work highlights

  • Advising the managers and founders of Greenyellow on the sale by Casino of its majority stake to Ardian Infrastructure.
  • Advised the management team of Siaci on its purchase of Siaci.
  • Advised the founder and the management team on the purchase by Capza of Amundi and BPI’s stake.

France > Mergers and acquisitions Tier 6

Practice head(s):

Coralie Oger

Other key lawyers:

Testimonials

‘Lots of creativity on the part of the firm’s employees. Ability to move forward in deadlocked situations. Anticipation and mastery of deadlines’

‘Coralie Oger has remarkable technical qualities. Always available, her business-oriented mindset allows us to benefit from a real advantage in negotiations. Scotto Partners knows how to innovate to implement cutting-edge legal solutions.’

‘We have selected Scotto as a specialist boutique combining high-flying Parisian partners as part of a small team renowned for its service to entrepreneurs. We were delighted by this collaboration.’

‘Coralie Ogier: Works around the clock, great availability, international experience and vision, always fishing, defends her opinions and her client.

‘The M&A teams fully fulfilled their mission thanks to their legal skills and their great professionalism, at all levels. Their intervention has also distinguished itself thanks to their ability to take ownership of our situation and business issues, to collaborate effectively with all of the project’s stakeholders (banks, internal counsel, lenders’ lawyers), to ensure high availability and to allow a collaboration that is both serious and sympathetic.’

‘Coralie Oger embodies the great qualities of the team: advanced and sophisticated legal skills, great professionalism, ability to understand a mission context, to be available, to allow an atmosphere the both serious and friendly. During the negotiations with the counsel of lenders, she particularly distinguished herself by her willingness and ability to defend the interests of her client.’

‘Among the various firms involved, Scotto Partners intervenes with consistent quality regardless of the sector of our group throughout the M&A process. Scotto distinguished itself on a recent very complex file by its ability to identify the risks and find protective solutions in the face of the obstacles of a difficult negotiation. The team manages its projects with perfection, while knowing how to handle a degree of flexibility essential to achieve a deal without sacrificing the requirements of guarantees.’

‘Coralie Oger perfectly represents the qualities of the Scotto firm (ability to intervene in very different sectors, quality of advice to the client, availability, perfectionism and flexibility). Beyond that, Coralie shows amazing resilience, coupled with a sense of humor that makes negotiation fun.’

Key clients

Diot-Siaci

Molotov

Packdis

UCPA

Minitubes

Akuo Energy

Loch Lomond Group

Parthena Consultant

Octopus Partners

Orange (Enovacom)

Work highlights

  • Advises a French major actor in the leisure and vacation sector, UCPA, in the context of the acquisition of the leisure division of the French major actor in the construction sector, SPIE Batignolles Concessions.
  • Advised Molotov’s shareholders on the sale of Molotov to the US listed group fuboTV.
  • Advising the founders of Akuo Energy on (i) the acquisition of Colam Entreprendre and minority shareholders shares and (ii) the entry of a financial partner, ICG Infra, that will support the founders of Akuo Energy in this new phase of Akuo Energy’s history.

The firm: Scotto Partners is an independent corporate boutique firm founded in the late 1990’s. In 2010, the firm was reshaped in order to focus on its core businesses: corporate, tax and employment law (transaction as well as litigation assistance) dedicated to top executives, managers and family business owners. It now comprises 7 partners, among a total number of 30 lawyers.

Initially focused on private equity transactions (assisting management) with a very well-known team headed by Lionel Scotto le Massese, the firm developed its corporate practice into the fields of public and private M&A. The firm also developed a strong tax practice for private and corporate clients.

Our practice’s peculiarity and excellence come from:

  • a synthesis between a leading private equity practice and a public/private M&A practice which allows us to cover a broad range of corporate transactions (M&A, LBO, venture, PIPE, P to P, IPO, etc.);
  • a fully-embedded first-class tax team (with five experienced tax lawyers headed by Jérôme Commerçon  and Emilie Renaud covering both corporate and personal tax) and a very dynamic employment team; and
  • a particular focus on private clients, in particular family groups and top management of listed and non-listed groups, which is unique on the French market.

Areas of practice
Private equity/management packages: Our private equity team has a unique track record in Paris.

In addition, it is the only team on the Paris market that can deal with all legal and tax issues of LBO transactions for the managers (and in particular a large group of managers). In this respect, the private equity team often works with the corporate team, the tax team and the employment team to cover issues in connection with, for example, employee shareholdings (FCPE), IPOs (as an exit for LBO), or tax issues which are crucial for this kind of transactions.

Finally, our private equity team is well-known for understanding and mastering the financial issues in connection with management packages (including modeling the MEP).

Recent deals include mid-market deals as well as the majority of the largest cross-border transactions of the last three years in France and abroad (Belgium, Germany, Italy, Switzerland), notably Gerflor, Armacell, International Cookware, Indigo, Comexposium, EFront, Proxiserve, Loch Lomond, Scalian and T&S.

Corporate tax, wealth and estate tax planning: Headed by Jérôme Commerçon and Emilie Renaud, our tax team has a strong track record and is particularly renowned for handling complex tax matters.

Our tax team assists our clients on our corporate transactions (involving highly complex tax and corporate structure and issues) and has built over the years a particular expertise on tax issues relating to private equity transactions, corporate restructurings and management packages; our tax team has also developed its own practice, in particular in the field of complex tax litigation where it is particularly renowned.

Our tax team also has a strong private client practice encompassing the assistance of French and international family groups, family businesses – listed or not – and high-net-worth individuals, living in France or abroad. More particularly, we assist our clients and their families on the tax structuring of their financial and private equity investments, real estate investments and estate planning. We deal with every tax and legal matter on a French and international basis such as income tax, wealth tax, estate tax, civil law, family and corporate governance.

M&A and capital markets: The corporate team advises clients on a broad range of high-profile corporate and public or private M&A transactions, including in a ‘distressed’ context (mandate ad hoc, conciliation). It stands out for its keen understanding of complex acquisition schemes and financial aspects of such M&A transactions.

The team has strong expertise in advising listed companies and their management in connection with debt or equity capital market transactions in particular, IPOs as exit for LBOs (eg Elior, Elis and Spie). It has an excellent reputation in setting up incentive packages for management teams of listed groups. It further regularly advises CEOs in connection with their departure from listed companies.

The corporate practice also has a strong focus on family groups and investors.

Employment, pensions and benefits: Our employment team has developed strong technical skills in all HR issues related to LBO, IPO and more generally any corporate transactions.

With respect to managers, our expertise includes: (i) negotiation of corporate officer status (under LBO or not) and termination packages, (ii) implementation of complementary remuneration packages and benefits (free shares plans, defered salary/LTI plans, expatriation packages, pension schemes).

We also assist companies in their collective relationships with trade unions and staff representatives in particular in order to implement restructuring/ downsizing plans or more generally any consultative procedures in the course of a change of majority ownership (under LBO).

More generally, our team advises clients on all French day-to-day HR aspects. We also assist them before French employment courts in litigation matters, and with respect to administrative steps and issues with the French administrations.

Department Name Email Telephone
Private Equity / Corporate / M&A and capital markets Lionel Scotto le Massese lscotto@scottopartners.com +33 (0)1 83 92 38 38
Private Equity / Corporate Isabelle Cheradame icheradame@scottopartners.com +33 (0)1 83 92 38 38
Private Equity / Corporate Claire Revol-Renié crevol@scottopartners.com +33 (0)1 83 92 38 38
Private Equity / Corporate Adrien Badelon abadelon@scottopartners.com +33 (0)1 83 92 38 38
M&A and capital markets Coralie Oger coger@scottopartners.com +33 (0)1 83 92 38 38
Tax / Corporate / Estate and wealth planning Jérôme Commerçon jcommercon@scottopartners.com +33 (0)1 83 92 38 38
Tax / Corporate / Estate and wealth planning Emilie Renaud erenaud@scottopartners.com +33 (0)1 83 92 38 38
Employment Bertrand Thibaut bthibaut@scottopartners.com +33 (0)1 83 92 38 38
Photo Name Position Profile
Adrien Badelon photo Mr Adrien Badelon Corporate Partner
Isabelle Cheradame photo Mrs Isabelle Cheradame Corporate Partner
Jérôme Commerçon photo Mr Jérôme Commerçon   Tax Partner
Coralie Oger photo Mrs Coralie Oger M&A Partner
Emilie Renaud photo Mrs Emilie Renaud   Tax Partner
Claire Revol-Renié photo Mrs Claire Revol-Renié   Corporate Partner
Lionel Scotto le Massese photo Mr Lionel Scotto le Massese Corporate Partner
Number of partners : 7
Number of associates : 30
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IBA (International Bar Association)
IFA (International Fiscal Association)