CEREA Partenaire (“CEREA”) is a France-based private equity group focused on Agribusiness and related sectors.
Bpifrance is a French state-backed group dedicated to providing assistance and financial support to French companies.
In May 2013, DC Advisory ("DC") was appointed by CEREA to provide M&A and debt advice in a competitive auction process.
The auction was conducted simultaneously with the sale of the wider Chesapeake group and also involved undertaking complex negotiations with a Chinese joint venture partner. DC supported CEREA throughout this challenging M&A process, drawing on its execution expertise, industry knowledge (including of potential interlopers) and experience in dealing with Asian counterparties.
In parallel with its M&A advice, DC ran a competitive process to elicit offers for the provision of both a senior-mezzanine and a unitranche acquisition facility, which involved both bank and non-bank lenders.
The transaction completed in January 2014.
DC Advisory’s tactical advice and knowledge of the packaging industry were instrumental to the success of this transaction. Their ability to run a competitive debt process and ultimately deliver attractive financing terms for a ‘moving target’ business perimeter was a huge achievement. We have been impressed by their professionalism, international capabilities, process management and dedication to their client.
Spec Chem is a quality business with a strong management team who have a very clear growth plan. We are very pleased to have acted for CEREA and Bpifrance on this transaction and believe the active support they provide to their portfolio companies will benefit Spec Chem in every way.
Our intimate knowledge of the European debt market and its players enabled us to identify the ideal partner for Spec Chem. I look forward to seeing the business grow under the combined stewardship of CEREA, Bpifrance, management and Alcentra.