RIVE Private Investment and Edmond de Rothschild Investment Partners, through its mezzanine focused team ActoMezz, finalized a sponsorless operation along with Yann Reboulleau, founder and managing director of Philogeris Group.
Over the past 10 years, Philogeris Group has expanded to become the 15th player on the French retirement home market, with an activity focusing on 2 different business models: directly-owned nursing homes and nursing homes under management (notably on behalf of 123 Investment Managers and more recently on behalf of public entities).
Thanks to the subordinated bond financing provided by Edmond de Rothschild Investment Partners and RIVE Private Investment (i.e. total amount of €31.1 Million), combined with a senior financing mixing banking debt and private debt provided by BNP Paribas, BNP Paribas SME Funds and BPVF, this transaction enables Yann Reboulleau, founder and CEO, to acquire the entire capital of the Group and to offer liquidity to 123 Investment Managers, shareholder since 2010.
Beyond the OBO, the financing put in place will allow Philogeris Group to seize new external growth opportunities and pursue its ambitious development strategy. 123 Investment Managers will keep supporting Philogeris Group’s growth strategy, notably though the acquisition of nursing homes that could be managed by Philogeris Group on behalf of 123 Investment Managers.
“This transaction is an important milestone in the Group development and confirms the relevance of Philogeris Group business model which focuses on business aeras not always considered by other players. 123 Investment Managers team’s confidence over the last few years has been key in our success, and we identified new partners who share our approach and will help us to consolidate our position.” comments Yann Reboulleau, CEO of Philogeris Group.
Parties to the transaction
– Edmond de Rothschild Investment Partners : Arnaud Faure, Jean-Baptiste Bessières, Antoine Soucaze
– RIVE Private Investment : Barthélemy Renaudin, Daniel Emersleben
– 123 Investment Managers : Antonio Graça, Pierre Reveillon, Antoine Paulhac
– Philogeris : Yann Reboulleau, Marie-Gabrielle Lacroix
– Banks : BNP Paribas (Jean-Baptiste Engel, Audrey Tarrière, Geoffroy Pelletrat de Bordes), BNP Paribas Asset Management (Christophe Carrasco, Cyril Loiry), Banque Populaire Val de France (Franck Ambonati)
Advisors to Edmond de Rothschild Investment Partners & RIVE Private Investment
– Legal: Villechenon (Gilles Roux, Tristan Segonds, Martin Kyuchukov-Roglev)
– Fiscal: Villechenon (Eric Hebras, Bertrand Dale)
– Social: Villechenon (Catherine Nahmias-Ferrandini)
– Financing: Villechenon (Gilles Roux, Tristan Segonds, Martin Kyuchukov-Roglev)
– Financial: Grant Thornton (Emmanuel Riou, François Dedeyan, Emilie Descroix)
Advisors to Philogeris
– M&A et Debt Advisory: Alantra (Franck Noat, Florian Touchard, Pierre-Louis Nahon, Basile Paul-Petit)
– Legal, Financing: K&L Gates (Nicola Di Giovanni, Mounir Letayf)
– Fiscal: LMBE (François Veuillot)
– Financial: Exelmans Audit&Conseil (Stéphane Dahan)
Advisors to 123 Investment Managers
– M&A: Clearwater International (Laurent Camilli)
– Legal: Fieldfisher (Pascal Squercioni)
Advisors to banks
– Legal: De Pardieu Brocas Maffei (Christophe Gaillard, Laurence Raud)
About RIVE Private Investment
RIVE Private Investment is an independent private equity player founded in 2013 by two investment management firms (123Venture and Elyseum Investment). RIVE Private Investment draws upon the combined resources and expertise of its shareholders in order to develop flexible, opportunistic and defensive investment solutions specifically for institutional investors and family offices.
RIVE Private Investment targets opportunities mainly across Europe and North America, focusing on three defensive sectors, namely infrastructure investments, asset finance and mezzanine debt financing.
Through its shareholders, RIVE Private Investment benefits from the talent and expertise of over fifty investment professionals located in four European countries. These teams have a solid track record and to date have invested close to €2 Billion in these sectors.