AXA Private Equity today announces the sale of its 46.5% shareholding in private home builder Trecobat Group to the management team, which is increasing its capital stake and thus becomes the new majority shareholder. Marcel Treguer, the Group's founder and Chairman, steps back from operations by passing on the Group's leadership to Alban Boyé, Managing Director since 2009..
"We are extremely satisfied to have supported the Trecobat Group in its capital-transfer project," said Baudouin d'Hérouville, Managing Director, and Alexis Lavaillote, Director, of the LBO Small Cap team at AXA Private Equity. "Faced with a trying economic climate, the company and its management have displayed exceptional ability to adapt and innovate, thus strengthening both market share and brand awareness.This transaction is testament to the essential role that can be played by a private equity fund in supporting the buyout of a business by its employees".
During its four years of support for the Group, AXA Private Equity has formed a close-knit partnership with the management team and staff. AXA Private Equity has consistently committed itself to rewarding the efforts of all employees in making the business succeed. Accordingly, when it exits the Trecobat Group,, at the request and with the support of AXA Private Equity, the Group companies will make a financial award to all employees in recognition of their role in making the transaction a success.
Marcel Treguer, Trecobat’s founder, added: "During the last four years we have forged close links with AXA Private Equity, grounded in deep mutual trust. Among its achievements, AXA Private Equity enabled us to introduce a modern scheme of corporate governance, appropriate to the issues the group must now face. We are pleased to have covered so much ground together".
Alban Boyé, Managing Director of Trecobat, added: "The success of this venture, backed by a private equity fund that played its role to the full as a socially-responsible shareholder, means that we can put the company's development on a sustainable footing, continuing the work so successfully undertaken by Marcel Treguer".
About AXA Private Equity
AXA Private Equity is a leading private equity firm with US$25 billion in managed assets and a global reach extending across Europe, North America and Asia. The firm offers investors the full spectrum of private equity services for every market segment: direct funds, infrastructure financing, mid cap and small cap buyouts, venture capital, co-investments, fund of funds as well as mezzanine financing.
With offices in Paris, Frankfurt, London, New York, Singapore, Milan, Zurich and Vienna, AXA Private Equity supports the development and long-term growth of its portfolio companies with sustainable growth strategies and by granting them access to the AXA international network. AXA Private Equity has earned the trust of its investors by regularly supplying them with transparent performance data on its funds and portfolio companies.
AXA Private Equity, Global Investments the European way
www.axaprivateequity.com
About Trecobat
Created in 1972 by Marcel Treguer, the Trecobat Group (with a workforce of 250) is now among France's top 10 private home builders, building more than 1000 homes per year and earning revenue of close to €100m. From its head office at Lannilis, in Finistère, it covers the whole of Brittany, the Loire-Atlantique département and, since 2010, the Toulouse region, through its Jegobat subsidiary. The Group is also present in the high-growth segment of timber housing under the "Maisons Nature et Bois" brand, with over 15% of its revenue earned from this segment. Trecobat is also one of France's leaders in low consumption housing (Bâtiment Basse Consommation – "BBC"), three years in advance of Thermal Regulation 2012 (RT 2012).
Its policy of proximity combines with recognised national leadership in the design of customised, innovative, high-quality products. These have proved key strengths in the Group's growth. The Group regularly receives awards for its innovative achievements: the gold medal for the French national innovative-homes challenge in the "positive-energy housing" category, and the jury's special all-categories award at Copenhagen in December 2009.
www.trecobat.fr
List of involved actors and transaction advisors
AXA Private Equity representatives: Baudouin d'Hérouville, Alexis Lavaillote, Caroline Pihan
Advisers to AXA Private Equity :
Legal advisers: Thibaut Caharel, Jean-François Pourdieu (De Pardieu - Brocas – Mafféi)
Management advisers :
Legal adviser: Marcel Hascoët (SCM Juripro)
Financial adviser: Michel Gouriten (Sofico)
Financing:
Arkea: Eric Gaulier, Blandine Costeplane
Press Contacts
AXA Private Equity
HeadLand Consultancy
Ben Girdlestone
Tél. : +44 (0)20 7367 5243
bgirdlestone@headlandconsultancy.co.uk
Imogen Harvey
Tél. : +44(0)20 7367 5235
iharvey@headlandconsultancy.co.uk