AXA Private Equity organizes Sateco LMBO Paris, Wednesday September 8, 2004

AXA Private Equity, in association with the management, has arranged the LMBO of Sateco, the French market leader in metal formworks.

Headquartered in Mirebeau (Vienne) and founded more than half a century ago, Sateco designs, manufactures and markets a complete range of equipment for concrete moulding and safety on building sites. The company posted turnover of almost € 22 million in 2003 and employs 185 people.

Thanks to an offensive commercial strategy, high-quality products, expert management and an effective industrial organization, the company has doubled its turnover in the space of the last seven years. Future growth prospects are just as promising: dynamic construction market, consolidation of market share in France, development of the services business, penetration of export markets, etc.

Sateco had been owned by the investment funds SPF3, Siparex Nord 1 and SPEF LBO since 2002.

Following the new transfer transaction, the AXA Private Equity funds – in particular AXA Expansion I – own 72% of the capital, Ciclad 14% and the management 14% jointly with various other individuals.

The senior loan was arranged by the Caisse Régionale d’Ile-de-France du Crédit Agricole, and the operating loans by the Caisse Régionale du Poitou du Crédit Agricole, the Crédit Industriel de l’Ouest (CIO) and the Caisses d’Epargne du Poitou.

Intervenants

AXA Private Equity (François Jerphagnon, Arnaud Dufer)
CICLAD (Jean-François Vaury, Didier Genoud)
SIGEFI PRIVATE EQUITY (Pierre Rispoli, Edouard Moinet)
SPEF LBO (Jean-Brice Bigourdan)

Conseils d’AXA Private Equity:

• Conseil et due diligence juridique et fiscale: Nomos (Jean-François Pourdieu, Guillaume Leclair)
• Due-diligence comptable et financière: Constantin (Jean-Paul Séguret, Thierry Billac)
• Due-diligence marché: Advention (Alban Neveux, Julie Garnier)
• Due-diligence assurances: cabinet Filhet Allard (Frédéric Jourdeuil)

Conseils des cédants:

• Conseil financier: KPMG Corporate Finance (Dominique Lecendreux, Pierre Le Morzadec, Laurent Guéroult)
• Conseil juridique: HPML (Thomas Hermetet)
• CADIF (David Monné)
• CA Poitou (Yannick Nordberg)
• CIO (Michel Pestel, Estelle Monin)
• Caisse d’épargne (Jean Pierre Callofer)