new présentation activa capital · 2016. 9. 6. · presentation activa capital, an independent...
TRANSCRIPT
Value activators
Summary
Presentation 3
Investment strategy 6
Activa Capital team 10
Investments 15
Activa Capital’s commitment 26
Presentation
1
Presentation
Activa Capital, an independent French private equity firm dedicated to mid-market companies.
• With a team of more than 20 professionals, Activa Capitalinvests in mid-market companies and supports entrepreneursin their growth strategies, in a sustainable and responsiblemanner.
• Entrepreneurship is a key value: with over 100 realisedinvestments, the Activa Capital team’s strong involvement in itsportfolio companies is part of its culture.
• A straightforward and reactive approach: managed by its 8Partners, Activa Capital is totally independent in its decisionmaking.
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EngagementA professional and
implicated team
IndependenceAn Investment Committee
composed of the 8 Partners
ExperienceMore than 100 investments
realised by the team
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Presentation1
• 3 funds raised since 2003, of which the first 2 are totally invested• Investment process underway for the 3rd fund (over €200m)
Family Offices15%
Sovereign Wealth Funds8%
Financial Institutions25%
Insurance21%
Pension Funds31%
USA & Asia11%
France13%
Europe76%
Supported by first-class French and international institutional investors.
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Over€500munder
management
Investment strategy
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Investment strategy
Strong personal
involvement & reactivity
Close relationships
with management
teams
Transparency& trust
Value creation
Engagement &
professionalism
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Investment strategy2
We don’t have sector specialisation but have developed a special expertise in the following sectors :
We invest in companies led by ambitious managers, having a project withsustainable growth: leading market positions, niche sectors, ability to generatesteady cash-flow…
Investment type Enterprise value Equity investment
• Majority or minority investments
• MBO, MBI, Spin-offs, PtoPand growth capital
• Entreprise value between
€20m and €200m• Average equity investment of €20m,which can vary from €10m and €50m
Our core sectors
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Agro-food B2C B2B services Healthcare& Education
Industry &Aeronautic
Investment strategy2
Investments in French SMEs deployed rapidly.
€426m
5 1realised investments on average per year including build-ups
dedicated team of more than 20
professionals
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invested in10 years
100,0
200,0
300,0
400,0
500,0
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Activa Capital team
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Activa Capital team3
Partners
• Managing Partner
• 30 years in French private equity
• Co-founded Activa Capital in 2002
• Co-founder of Barclays Private Equity France (Equistone)
• Formerly with Pallas Venture Private Equity and Paribas
• Graduate of University of Geneva, MBA from Wharton
Charles Diehl Michael Diehl Philippe Latorre Christophe Parier• Responsible for Investor Relations and
co-investments
• 16 years in French private equity
• Co-founded Activa Capital in 2002
• Former Director of French equities with UBS Warburg
• Graduate of University of Geneva, MBA from ESCP Europe
• Responsible for portfolio management
• 23 years in French private equity
• Co-founded Activa Capital in 2002
• Former Director of Paribas Affaires Industrielles (PAI)
• Graduate of HEC and IEP of Paris (Sciences-Po)
• Responsible for Investments
• 18 years in French private equity
• Joined Activa Capital in 2003
• Formerly with 3i and Royal Bank of Scotland Private Equity
• Graduate of IEP of Paris (Sciences-Po), Post graduate in Finance
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• 7 years in French private equity
• Joined Activa Capital in 2009
• 5 years in management consulting at Bain & Company and Arthur D. Little
• Master of Strategy from HEC, MA in Engineering from Centrale Paris
Pierre Chabaud Alexandre Masson Benjamin Moreau• 4 years in French private equity
• Joined Activa Capital in 2012
• 6 years at Alvarez & Marsaland 4 years in audit and due diligence at KPMG
• Graduate of ESC Reims, Master in Business Law from University Paris I Panthéon-Sorbonne
• 10 years in French private equity
• Joined Activa Capital in 2006
• 4 years in financial due diligence at PwC
• Engineering Degree from CPE Lyon, Master of Finance from ESCP Europe
Activa Capital team3
Mathilde SergentManager
• Joined Activa Capital in 2015
• 5 years in M&A at Nomura
• Graduate of HEC12
Jean-François BriandOperations Partner
Philippe du MesnilPresident of Industrial Committee
• 5 years in French private equity
• Joined Activa Capital in 2011
• 7 years at Brake France as Strategy & Operations Director and 6 years with the Boston Consulting Group
• Graduate of ESSEC
• Member of the Industrial Committee of Activa Capital since 2003
• Chairman of Financière Chopin (CEVA Group)
• Former CEO of CEVA Santé Animale
David Quatrepoint Manager
Frédéric SingerManager
• Joined Activa Capital in 2014
• 2 years in M&A at Lincoln International
• Graduate of EM Lyon and Paris Dauphine
• Joined Activa Capital in 2014
• 4 years in M&A at Leonardo & Co
• Graduate of Paris Dauphine
Investment team
Operations & Portfolio Support team
Activa Capital team3
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• With 21 professionals, the Activa Capital team is well equipped to seize private equityinvestment opportunities in France.
• Activa Capital’s strong involvement in its portfolio companies is part of its culture.
• Joined Activa Capital in 2012
• 2 years as General Secretary at CM-CIC LBO Partners (CIC Bank) and 3 years as CFO at ActemPartners
• 7 years in audit and transaction services at Constantin Associés
• Graduate of ESGF Paris
Samuelle Thevenet Finance Director
Thomas Le GallFinancial Controller
Charlotte Metaireau Marketing & Communication
Christelle PiattoOffice Manager
• Joined Activa Capital in 2015
• 4 years as senior auditor at Grant Thornton Luxembourg
• Graduate of La Rochelle Business School
• Joined Activa Capital in 2012
• 3 years as French Press Officer at Mazars
• Graduate of Kedge Business School
• Joined Activa Capital in 2015
• 7 years as bilingual Executive Assistant at Brunswick
• Trilingual diploma in executive secretariat
Finance, Marketing and Administrative team
Activa Capital Industrial Committee
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The Industrial Committee, chaired by Philippe du Mesnil, and composed of renownedindustry experts, supports the Activa Capital team in the study of investmentopportunities and monitoring of portfolio companies.
Philippe du Mesnil
Chairman of the Industrial Committee
Chairman of Financière Chopin
(CEVA group)
Jean-Paul Vivier
Senior Advisor
Former Deputy Managing Director of
Louis Vuitton
Jean-Louis de Bernardy
Co-founderof Activa Capital
Former President of AFIC
Franklin Berrebi
Former Managing Director of
L’Oréal Europe
Laurent Combaz
CEO of KarakolDéveloppement
Former CEO of Fabricautoand Florence & Peillon
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Philippe Dubouix
President of Agritubel
President of Distrifarm
Hubert François
CEO of Groupe Salins
Pierre Fonlupt
President of Locarchives
Chairman of Board of Plus SA
Simone Halberstadt Harari
CEO of Effervescence
Former CEO of Télé Images
Jean Levy
Former Vice Chairman of L’Oréal
Marc Oursin
CEO of Shurgard
Former Managing Director of Carrefour in various countries
Alain Poinssot
Former CEO of Geodis
Former Managing Director of SNCF
Arnaud de Puyfontaine
CEO of Vivendi
Former CEO of NatMags(Hearst UK)
Bruno Rambaud
President of FBR Consulting
Former Managing Director of Thalès
Jean-François de Zitter
Former MD Laureate Education France
Investments
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Activa Capital portfolio companies
16
4
Current investments (1/5)
Consolidation platform in the manufacturing and assembly of
high-precision mechanical components for the aerospace
industry
Investment type: OBO
Turnover€20m
December 2015
Iconic French sports brand in the design and manufacture of bikes
and high-end accessories
Investment type: BIMBO
Turnover€45m
June 2016
Mail order and internet retailer of men’s outdoor clothing
Investment type: MBO
Turnover€130m
July 2016
Activa Capital portfolio companies
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4
Current investments (2/5)
Leading French engineering company which designs, manufactures, tests and
maintains critical electronic systems
Investment type: PtoP / MBO
Turnover€130m
September 2013
Leading French independent alternative gas distributor
supplying the collective residential B2B market
Investment type: growth capital
Turnover€205m
December 2013
Premium labels consolidation platform for the wine and food
industries
Investment type: OBO
Turnover€18m
July 2015
Activa Capital portfolio companies
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4
Current investments (3/5)
European leader in maternity photography and direct
marketing to young families
Investment type: MBO
Turnover€75m
October 2011
A leader in French call centreoutsourcing
Investment type: MBO
Turnover€200m
May 2012
French child care nursery group
Investment type: growth capital
Turnover€100m
December 2012
Activa Capital portfolio companies
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4
Current investments (4/5)
Consolidation platform in the private education sector
Investment type: MBO
Turnover€20m
December 2010
Europe's leading pool enclosure manufacturer
Investment type: MBO
Turnover€60m
March 2011
Leading French B2B distributor of home appliance and
equipment
Investment type: MBO
Turnover€300m
March 2011
Activa Capital portfolio companies
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4
Current investments (5/5)
French prêt-à-porter clothing brand
Investment type: MBO
Turnover€20m
March 2008
N°3 French sports retail chain
Investment type: growth capital
Turnover€580m
June 2008
Activa Capital portfolio companies
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4
Realised investments (1/3)
Investment dateExit date
European leader in organic fruit and vegetable
distribution
Investment type: OBO
Turnover 2014: €143m
July 2005November 2014
Specialised platform dedicated to Temporary staffing solutions
and Human Resources
Investment type: MBI
Turnover 2014: €158m
September 2010October 2014
French outsourcing specialist focused on non-strategic
industrial purchasing
Investment type: MBI
Turnover 2013: €140m
February 2006February 2013
Activa Capital portfolio companies
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4
Realised investments (2/3)
French leader in ambient dairy cream and
fruit compote desserts
Investment type: BIMBO, Spin-off
Turnover 2010: €186m
July 2003December 2010
Leading French catalogue and Internet retailer of household linens
Investment type: MBI
Turnover 2010: €134m
October 2006September 2010
Leading European specialist distributor of electronic and
photonic products
Investment type: MBO, Spin-off
Turnover 2009: €129m
April 2006December 2009
Activa Capital portfolio companies
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4
Realised investments (3/3)
Road Haulage
Investment type: OBO
Turnover 2008: €146m
August 2004March 2008
Pharmaceutical Contract Manufacturing Organisation
(CMO)
Investment type: MBI
Turnover 2007: €94m
April 2004June 2007
Healthcare marketing and communication services
Investment type: MBO, Spin-off
Turnover 2007: €30m
June 2003February 2007
Activa Capital has realised more than 10 corporate spin-offs of non strategic or troubled assets
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4
#2 worldwide human resources
company
Sales: €12.4bn
Sales: €63m
JV between BNPP and Galeries
Lafayette
Sales: €103m
World’s largest food company
Sales: €83,0bn
Sales: €38m
Nestlé remains 19% shareholder
World’s largest food company
Sales: €83.0bn
Sales: €10m
Multinational express delivery
company
Sales: €10.3bn
Sales: €54m
Privately owned French cosmetics
group
Sales: €2,0bn
Sales: €48m
Yves Rocherremains 16% shareholder
World’s largest electronical components distributor
Sales: €12,7bn
Sales: €120m
Avnet remains 16% shareholder
Private French engineering
group
Sales: €500m
Sales: €50m
World leader in call-centres
Sales: €2.0bn
Sales: €30m
Teleperformance
Privately owned French
pharmaceutical company
Sales: €0.1bn
Sales: €54m
Aguettantremains 5% shareholder
Aguettant
Co
rpo
rate
ve
nd
ors
Spin
-off
s
German pharmaceutical
group
Sales: €32.9bn
Sales: €36m
Bayer Healthcare
A strong experience in build-ups53 build-up acquisitions realised in more than 10 years
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4
Turnover at exit
€158m
€63m €32m €54m
Turnover at exit
€146m
€36m
Turnover at exit
€94m
€63m €39m
Turnover at exit
€134m
Turnover at exit
186 M€
€10m €136m
Turnover
€100m
€2,7m ~€10m
Turnover
€300m
€7m €15m€140m €78m
Turnover
€18m
Groupe Enes
Some examples
CA €7m
Turnover
€200m
Data Contact
CA €103m
Activa Capital’s commitment
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PEN: Private Equity Network
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1. Promote and help each others’ portfolio companies to expand within Europe and outside Europe (build-up opportunities)
2. Share sector expertise and best practice portfolio management
3. Identify opportunities for cross-border cooperation
Activa Capital is co-founder of the Private Equity Network, a Europeannetwork of 4 leading private equity firms, with the following main priorities:
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Activa Capital was an early adopter of an active ESG strategy5
Internally With our portfolio companiesWithin the financial
community
• Activa Capital’s ESG charter is based on four areas: (i) optimising environmental impact, (ii) promoting responsible human resources management, (iii) ensuring exemplary governance and (iv) developing responsibility and social engagement
• Launch of a sustainable recycling system for office waste and materials, with « Les Joyeux Recycleurs »
• Printing policy
• Transport policy
• Realisation of ESG due diligences in the portfolio companies
• Pre or post-investmentESG Due diligence
• Due diligences realised with the PwC specialised ESG team
• Active member of the AFIC ESG commission • In 2015 and 2016: lead the work
group in charge of the annual ESG report
• In 2014: led the work of the Commission on ESG Due Diligence and Reporting
• Co-author, in 2010, of the AFIC Sustainable Development white paper for French Private Equity and member, in 2016, of the work group in charge of its reissue
• One of the first UN’s Principles for Responsible Investment signatories
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ESG (Environmental, Social and corporate Governance) criteria are integrated into Activa Capital’s investment strategy.
Within the not-for-profit sector
203, rue du Faubourg Saint-Honoré
75008 PARIS
activacapital.com
Tél. : + 33 1 43 12 50 12Fax : + 33 1 43 12 50 13