Edmond de Rothschild Corporate Finance advises the managers of Alcadia in the context of a management buyout with support from the Fonds de Développement des Entreprises Nucléaires (Bpifrance) and Rhône-Alpes PME Gestion (Siparex Group).

Press release - 1/16/2018

The Lyon-based SME Alcadia, founded in 1998 by Yves Müller and Henri Mirabella, is beginning a new chapter with the arrival at the helm of Thierry Nourdin and Frédéric Charnay.

The two buyers benefit from significant experience in the industrial engineering sector, particularly energy and nuclear, and enjoy a trusting business relationship with the two founders. This made it possible to begin preparing the transfer of the business well in advance, with full cooperation from the founders and the teams at Alcadia, whose senior managers took part in the operation.

Thierry Nourdin and Frédéric Charnay intend to step up development of the business, building on strong foundations, by setting out an ambitious road map. To support them with this takeover, they chose two partner-investors – Bpifrance, via the FDEN, and Rhône-Alpes PME – as well as granting a stake to two private investors and six senior managers in the company.

Guided by the teams at Edmond de Rothschild Corporate Finance, the operation was supported by a banking pool made up of BNP Paribas, as lead arranger, Crédit Agricole and Caisse d’Epargne. Yves Müller and Henri Mirabella supported the transfer by contributing to the financing and are continuing their operational involvement alongside the two buyers under mutually agreed conditions.

Alcadia Entreprises has worked with large industrial clients for almost 20 years to achieve major projects such as the construction of new-generation nuclear reactors and launch complexes including ELA3, Soyuz and Vega in Kourou (Guiana). With a 100-strong workforce, Alcadia Entreprises is recognised as a key player in engineering and technological consultancy and stands out for its know-how in niche issues (security, control and command systems, PWR functioning, etc.).

In order to capture new growth opportunities, Frédéric Charnay and Thierry Nourdin have initiated a ramp-up of human, logistics and organisational resources, in collaboration with the two founders. This will enable Alcadia Entreprises to accelerate its development while diversifying its client portfolio and expanding its presence in the value chain.

 

List of consultants involved in the transaction

 

Target company
Alcadia Entreprises

Purchasers
Managers taking over the business: Thierry Nourdin, Frédéric Charnay
Partner-investors: Bpifrance (Jacques Solleau, Emmanuel Denoulet, Hajar Sadsi El Idrissi, Mélanie Lagrange), Rhône-Alpes PME Gestion - Siparex Small Caps (Cyril Fromager, Julien Dupuy)

Sellers
Yves Müller, Henri Mirabella

Senior debt
BNP Paribas (Samuel Saucourt, Yannick Vieira, Elsa Vasselon)
Crédit Agricole (Olivier Pichot, Anne-Caroline Dubant-Grobost)
Caisse d’Epargne (Virginie Fizaine, Sylvère Gandré)

Purchasers’ advisors
M&A
Edmond de Rothschild Corporate Finance: Nicolas Jullian, Fabien Bayard

Lawyers
Lexicube Sociétés d’Avocats (Thibault Ricome, Marion Sourd) – Corporate and investors
Duteil Avocats (Edouard Eliard) – Managers taking over the business

Financial DD
Grant Thornton (Pierre-Olivier Arsac, Xavier Bounaix)

Legal DD
Grant Thornton Société d’Avocats (Sylvie Scelles-Tave, Sophie Dondero, Nicolas Remy Neris, Cécile Didolot)

Sellers’ advisors
Jakubowicz Mallet-Guy Associés (Loïc Jeambrun, Valérie Sauvageon)