Press release
Paris, 16 May 2019
Nord Coffrage passes under the control of Initiative & Finance and Turenne Capital on the occasion of its second LBO, Omnes Capital arranges the mezzanine debt of the transaction Levine Keszler advises Omnes Capital
Nord Coffrage, which has been in an LBO with Ciclad since 2015, has just reshaped its shareholder base. Following a process led by DC Advisory, the formwork and site equipment rental specialist is now controlled by Initiative & Finance and Turenne Capital (via its Emergence fund and its Lille-based subsidiary Nord Capital), which are investing a total of €20m to hold over 90% of the capital. The balance is attributed to the first circle of management led by Philippe Asselin, who has been at the helm of the company since 2017.
With sales of €30m in 2018, up by more than 10% on average since 2015, Nord Coffrage claims to be the French leader in the rental of metal formwork panels.
This LBO bis is backed by senior debt arranged by Crédit Agricole Nord de France and mezzanine debt provided by Omnes Capital.
Levine Keszler advised Omnes Capital on this transaction.
Counsel to Omnes Capital:
Levine Keszler (Serge Levine and Aude Manzo-Keszler, partners, Pierre Plettener and Rebecca Zbili)
Counsel to Crédit Agricole Nord de France:
Jones Day (Isabelle Maury)
Counsel to the purchasers:
Bird & Bird (Bertrand Levy, Alexandre Vuchot, Laurence Clot, Jean-Claude Vecchiatto)
Advisers to the sellers:
HPML (Thomas Hermetet)
