Eurazeo launches in the capital development
Eurazeo adds another string to his bow. The investment company, majority shareholder or reference Accor, ANF, Apcoa, B & B Hotels, Elis, Europcar or Rexel, addresses the SME segment. It plans to invest 500 million euros on this segment by 2015, with two or three operations per year.
These investments will be made on equity through a new structure, Eurazeo Growth. In the medium term, the portfolio of SMEs Eurazeo could represent between 10% and 25% of the total assets of the investment company.At the end of 2009, it operated approximately 3 billion euros of assets.
Patrick Sayer, chief executive of Eurazeo, said in March, when presenting the annual results in loss, the team was preparing to intensify its efforts on niche growth companies.
"By creating Eurazeo growth, we apply our expertise to SMEs developed for large groups," said Patrick Sayer. We are ensuring our network of knowledge and skills, enabling them to better structure their growth.The team Eurazeo has essentially not changed for eight to ten years and has acquired a real expertise in project development, in entirely different. "
First operation in the photovoltaic
During the period flagship private equity from 2005 to 2007, Eurazeo had won many targets (Apcoa, Europcar …) in the face of industry. More recently, Accor is the case marked minds quick pay day loan. Associated with the American Colony Capital, Eurazeo obtained the separation of the two businesses of the group.
By targeting SMEs, therefore changing Eurazeo registry. He came to hunt on the ground already very competitive mid-cap funds. "We have the unique ability to support SMEs in the long term growth by investing in several times and helping to raise debt, warrants Patrick Sayer.Our goal is to change their size. In sum, Eurazeo growth is one-stop shop for SME growth. "
The first operation, in a society photovoltaic Fonroche, has just been completed. An initial investment of 25 million this year will be completed next year by an injection of same amount.
"Before deciding to invest in Fonroche, we met several photovoltaic companies in France, explains Fabrizio Gaudemar, head Eurazeo Growth.Fonroche matched exactly the profile we are looking for, having a presence throughout the downstream portion of the chain (assembly, design, installation, operation, maintenance) and with the ambition to become a genuine producer of renewable electricity in the medium term. The volume of business the company should spend between 2009 and 2010 from 27 to about 200 million euros.
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