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July 2010
IFE II arranger and sole underwriter of the mezzanine put in place for the financing of the buy-out of Pénélope by Edmond de Rothschild Capital Partners
Created in 1971, Penelope is the French arch leader in outsourced human resources activities, with three specialities in receptionist services, commercial animation and event reception, with values based on quality, proximity and fidelity. The Group operates throughout France for large national and international groups as well as companies of medium size with a widely recognized quality of service.
June 2009
IFE II supports SVP Group in its acquisition of the company E-Paye
An investment of IFE II since January 2007, SVP, owned by Société Générale Capital Europe, is a renowned company specializing in management consulting services provided by telephone to coporate and public service entities. SVP acquired in June 2009 a company named E-Paye which focuses on payroll outsourcing tasks.
May 2009
IFE II arranger and sole underwriter of the mezzanine put in place to accompany the development of Sinéquanone’s owned stores network
Since February 2008 IFE II accompanies the development of Sinéquanone, a French renowned ready-to-wear clothing chain acquired in a MBO by CIC LBO Partners. Sinéquanone is an international brand running two activities as manufacturer/wholesaler and as a retail network. The group is in an ongoing process of expanding its distribution strategy by focusing on franchised and owned stores network.
November 2008
IFE II co-arranger of the mezzanine tranche put in place in order to partially fund the acquisition of Socotec by CDC Capital Investissement via a primary LBO transaction.
Socotec is a French leader in Inspection, Testing and Cetification (ITC) services. The Group’s activities consist in inspecting, analysing, auditing and certifying (i) various types of assets (buildings, infrastructures, equipments, etc) or (ii) management systems/organizations, in order to assess their compliance with required regulations (laws or internal bylaws of a given entity) in the fields of quality, safety, health and environment. Founded in 1929 and benefiting from an historical leadership in building technical control activities, Socotec has progressively diversified its sales base, notably towards industry and health safety, allowing it to offer a good resilience through economic cycles.
April 2008
IFE II arranger and sole underwriter of the mezzanine put in place for the financing of the buy-out of AJ Tech by Edmond de Rothschild Capital Partners
AJ Tech is a French leader in the designing, assembling and distribution of split air heat pumps (“Aérothermie”). In a booming market supported by tax incentives and environmental concerns, AJ Tech propose a full range of heat pumps aimed at small individual houses co-developed with renowned Japanese manufacturer such as Panasonic or Mitsubishi.
Febrary 2008
IFE II arranger and sole underwriter of the mezzanine put in place for the refinancing of the vendor loan of Sinéquanone
Sinéquanone is a French renowned ready-to-wear clothing chain acquired in a MBO by CIC LBO Partners in July 2007. Sinéquanone is running two activities as a wholesaler and as a retail network. In 2007 products of Sinéquanone were sold via 250 PoS (own stores, franchisees, corners and outlets) and more than 480 multibrands stores around the world.
January 2008
IFE II invest in the mezzanine tranche put in place for the financing of the buy-out of Armatis by CIC LBO Partners
Armatis, is a French independent leader on its market as a call-center operator. The group operates for large national and international customers (telecommunication, electricity and gas distributors, …) (i) with strong expertise in outbond calls (ex. commercial prospects for companies) but also (ii) in inbound calls (ex. after sale service for individuals and companies), via a network of 6 platforms all based in France.
December 2007
IFE II invests in the mezzanine tranche put in place for the financing of the buyout of Global Refund by Barclays Private Equity Ltd (UK)
With an estimated 82% global market share, Global Refund is a world leader in outsourced VAT refund services. The Group has now a presence in 37 countries with over 230,000 merchants outsourcing their tax refund and/or dynamic currency conversion to them. Global refund allows travellers to reclaim VAT on goods purchased abroad and brought back home and/or to pay in their home currency when travelling abroad.
December 2007
IFE II invests in the mezzanine tranche put in place for the financing of the buyout of Explinvest (Titanite + Nobel Explosifs) by Fonds Partenaires Gestion
The Group is the clear leader on its market. Explinvest manufactures and distributes a complete range of explosives for civil industrial applications and pyrotechnic blasting accessories through a network of 25 owned depots. The Group customers are quarries and public works companies. Explinvest also provides blasting and drilling support services (audits and studies, blasting operations design and execution, drilling, basic and advanced training in blasting techniques) to its customers.
July 2007
IFE invited in order to co-arrange the mezzanine financing put in place for the acquisition of 5àSec by ING Parcom (the Sponsor) through a secondary LBO transaction
5àSec is the worldwide leader in retail textile care through a network of c. 1,600 owned and franchised outlets in 22 countries. In recent periods, the Group has entered into an active external growth strategy in order to develop its own network. The 5àSec brand name is well recognised in key countries (especially France).
July 2007
IFE II invests in the mezzanine tranche put in place for the financing of the secondary buyout of Gravograph-Technifor by LBO France.
Gravograph-Technifor is the world leader in the development, distribution and related services of engraving and permanent marking machines. The group is the only provider of total solutions for engraving/marking: equipment, software, consumables and service to a whole range of customers (retail, institutional, industrial) spread over 50 countries in the world.
June 2007
IFE II co-arranger and sole underwriter of the senior mezzanine put in place for the financing of the Sponsorless operation launched by Management on Delpharm
Delpharm is a top subcontractor within the pharmaceutical industry, which works in close cooperation with the largest French and international pharmaceutical laboratories. The group manufactures all galenic forms of drugs (dry, liquid, paste, effervescent). Delpharm is specialized in highly active products (in particular oncology and hormonal drugs) and generics.
April 2007
IFE II arranger and sole underwriter of the mezzanine put in place for the financing of the Public Offer launched by Weinberg Capital Partners on Team Partners Group (TPG)
Team Partners Group is a French mid-size SSII with strong expertise in fast developing business segments:
- French leader in the conception and integration of outsourced CRM solutions for the account of large customers (Telecom, Media and Press);
- Dual Expertise, i.e. a unique expertise which mixes expertise on closed mainframe (large systems used in Banks, Insurance companies, Telecoms) and open source languages like Java;
- The offer is completed by two other activities: maintenance of software and maintenance of systems.
March 2007
After having arranged the mezzanine tranche of the May 2006 recapitalisation, IFE II is arranger and sole underwriter of the mezzanine financing put in place for the secondary buy out of Kermel by Barclays Private Equity
Based in Colmar, France, Kermel is the European leader in meta-aramid fibres, which are used in heat- and flame-resistant protective clothing. The Kermel® fiber is used in fire fighters' clothing, special uniforms for military personnel, operational uniforms for the police force, and work clothing in high-risk industries such as petro-chemical, iron and steel, glassworks and electrical.
January 2007
IFE II arranger and sole investor in the mezzanine put in place for the financing of the buy out of SVP by Société Générale Capital Europe
SVP is a well-recognized French company founded in Paris in 1935. It offers subscription-based consulting services in the fields of legal matters, labor law, human resources as well as economical and market-related matters. SVP’s 200 specialized consultants process over 350,000 requests annually, mostly over the phone. SVP’s client base includes over 7,000 entities (companies, local authorities, legal firms, accounting firms, federations, associations, health industry organizations).
November 2006
IFE II invests in the mezzanine tranche put in place for the financing of the buyout of Worldwide Flight Services (WFS) by LBO France
WFS, headquartered in Paris, is an international leading airport services provider. The company is specialized in:
- Cargo handling;
- Ground handling;
- Technical services such as maintenance, repair and installation of passenger boarding bridges.
WFS enjoys a large presence in Europe and North America and more recently in Asia.
September 2006
IFE Mezzanine: Final closing for IFE II at €300 million
IFE II successfully concluded its final close on July 22, 2006, at €300 m, as targeted.
The previous fund advised by IFE Conseil, IFE I, launched in 2000, made 16 mezzanine investments for an aggregate amount of €180 m. IFE I entered into its liquidation process.
IFE II’s investors are institutions (life insurers and banks from France, Germany and Italy) and family offices. A majority of IFE I’s investors have repeated their commitment to IFE II.
June 2006
IFE II arranger and sole investor in the mezzanine put in place for the recapitalisation of Kermel, an Argos Soditic investment
Based in Colmar, France, Kermel is the European leader in meta-aramid fibres, which are used in heat- and flame-resistant protective clothing. The Kermel® fiber is used in fire fighters' clothing, special uniforms for military personnel, operational uniforms for the police force, and work clothing in high-risk industries such as petro-chemical, iron and steel, glassworks and electrical.
June 2006
IFE II invests in the mezzanine tranche put in place for the financing of the buyout of Norma by 3i
With production facilities in Germany, France, the UK, Poland, the US, Australia, and China, Norma is the European leader in connectors for the automotive industry.
May 2006
IFE II co-arranges the mezzanine tranche put in place for the financing of the secondary buyout of Marc Orian by CDC Entreprises Capital
Marc Orian is a leading player in France in the jewelry/watch retail market (leader in shopping malls), via 2 main networks (“Marc Orian” and “TrésOr” stores) positioned mainly in the lower mid to upper mid range.
April 2006
IFE II invests in the mezzanine tranche put in place for the financing of the secondary buyout of Cegelec by LBO France
Cegelec is a major electrical contractor, with a very strong positioning in France and Germany as well as a presence in other European countries, Latin America, the Middle East, and Southeast Asia.
Febrary 2006
IFE II co-arranger and main investor in the mezzanine put in place to partially finance the acquisition of Frères Blanc by CDC Entreprises Capital
Frères Blanc is a well known operator of a number of Parisian brasseries ("L'Alsace", "Au Pied de Cochon", ...) and theme restaurants (Chez Clément).
January 2006
IFE II invests in the syndicated mezzanine and PIK tranches set up for the refinancing of Partners in Lighting International ("PLI") by CVC
In June 2002, CVC acquired Massive (the group is now known as PLI), the Belgian-based European leader for consumer lighting. PLI, which also designs and manufactures architectural lighting solutions, has manufacturing facilities in Europe and China. ING acted as lead arranger and bookrunner in the syndication.
January 2006
IFE II invests in the syndication of the mezzanine tranche put in place for the secondary buyout of Tokheim
After IFE Fund's investment in the first buyout by AXA Private Equity, IFE II has invested in the mezzanine tranche put in place to partially finance this secondary buyout by Electra Partners Europe. Tokheim is the European leader for gas dispensers and ancillary services. The group enjoys strong positions in France, Benelux, and Spain and is developing its activities in the rest of Europe as well as in Asia (China, India). BNP Paribas acted as lead arranger and bookrunner in the syndication.
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