The deal will see the Vigier Group's historic family shareholders leave the company in favour of Sébastien Frouin and Grégory Saerens, two operational managers who have been with the company for over 20 years, and who will now hold a majority stake.
In support of the deal, Turenne Groupe is acquiring a stake in the group via its Nov Relance Impact fund, making its seventh investment. Financing is provided by senior debt arranged by Crédit Agricole Mutuel Charente Périgord.
This MBO should also bring a new generation of managers into the capital and accelerate the Group's CSR transformation, already under way for several years, notably by introducing a mechanism for sharing the creation of value for the benefit of all employees.
Founded in 1947 by the Vigier family, the Vigier group specialises in metal construction for commercial buildings and industrial civil engineering structures. A regional player in the Nouvelle-Aquitaine region, the Périgord-based group will have generated sales of €57 million by 2022 and employs 230 people at its head office near Périgueux and sites in the Dordogne, Gironde and Charente-Maritime.
"We were attracted to the development plan put forward by the two directors and their managers by its resolutely committed and shared ambition. The support for the handover to management and the value-sharing system that will be put in place as part of this deal, combined with existing CSR initiatives and the values espoused by the group's management, are totally in line with the investment thesis of the Nov Relance Impact Fund. We are extremely enthusiastic about the idea of supporting the management and employees of the Vigier Group in this new phase", comments Alexandre Joubert, Investment Director at Turenne Groupe.
Vigier Groupe: Sébastien FROUIN (Chairman), Grégory SAERENS (Chairman), Philippe DUCLUSEAU (Chief Financial Officer)
Turenne Groupe: Alexandre JOUBERT, Mathilde SERRES, Paul WESTEEL
Debt: Crédit Agricole Mutuel Charente Périgord (Matthieu BARRAULT, Olivier COURTOIS)
M&A advisor Vigier Groupe: Société Générale (Caroline DUCLOS, Pierre LE GOFF)
Attorneys Turenne Group: Cornet Vincent Ségurel
Corporate, coordination and legal due diligence: Stéphanie GERARD, Claire JAGUENEAU
Social due diligence: Anne PITAULT, Antoine LOSSE
Tax due diligence: Anne-Claire BARRAULT
Attorneys Managers: Fidal (Laurent BINEAUD)
Financial due diligence: Deloitte (Bertrand CHABOUSSOU, Rodolph LE ROHO, Arthur METGE)
ESG due diligence: ACA Nexia (Sandrine GIMAT, Elona PLICHON)
Debt attorney: August Debouzy (Laure BONIN, Driss TLEMÇANI)
Interest rate hedging: KERIUS (Sébastien ROUZAIRE, Solal HUARD, Marion DONDIN)