Accueil is a family group which was established almost a century ago. With sales of around €500 m, the group owns and manages several business lines: software publishing for public administrative authorities, the healthcare industry and the education sector (Berger Levrault), merchandising products for heating/sanitation and timber/building materials (Partedis), property development in the Ile-de-France region (Accueil Immobilier), property management in Canada, and agribusiness and citrus-fruit farming.
By securing complex and competitive financing, the majority shareholders have been able to recoup 100% of the Group’s capital. The funding package consists of a syndicated bank loan (with Natixis as lead manager, backed by traditional banking partners), a tranche of mezzanine debt arranged by Tikehau and real-estate financing structured with Caisse centrale Desjardins in Canada. The group also seized the opportunity provided by this deal to renegotiate its existing debt and set up a new external growth credit line, while also structuring a revolving credit facility. The total amount covered by the acquisition, refinancing and operational credit lines put in place is approximately €200 m.
Financial advisor: Edmond de Rothschild: Grégory Fradelizi, Aurélien Bouvier, Victor Auguin-Rougier
Legal advisor: Mayer Brown (Patrick Teboul, Maud Bischoff)
Fiscal advisor: Mayer Brown (Elodie Deschamps)
Senior banks: Natixis (Jean-Philippe Nani, Nicolas Goursaud), BECM, CADIF, CA Aquitaine, CA Cote d’Armor, BNP Paribas, Arkéa
Advisory banks: De Pardieu Brocas Maffei (Christophe Gaillard)
Mezzanine debt: Tikehau (Cécile Levi, Charles Bourgeois)
Mezzanine debt advisor: Paul Hastings (Olivier Vermeulen)