new présentation activa capital · 2016. 9. 6. · presentation activa capital, an independent...

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.

1

EngagementA professional and

implicated team

IndependenceAn Investment Committee

composed of the 8 Partners

ExperienceMore than 100 investments

realised by the team

4

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.

5

Over€500munder

management

Investment strategy

2

Investment strategy

Strong personal

involvement & reactivity

Close relationships

with management

teams

Transparency& trust

Value creation

Engagement &

professionalism

2

7

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

9

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

3

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



• Former Director of French equities with UBS Warburg

• Graduate of University of Geneva, MBA from ESCP Europe

• Responsible for portfolio management



• Former Director of Paribas Affaires Industrielles (PAI)

• Graduate of HEC and IEP of Paris (Sciences-Po)

• Responsible for Investments


• 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

11



• 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


• 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



• 4 years in financial due diligence at PwC

• Engineering Degree from CPE Lyon, Master of Finance from ESCP Europe


Mathilde SergentManager


• 5 years in M&A at Nomura

• Graduate of HEC12

Jean-François BriandOperations Partner

Philippe du MesnilPresident of Industrial Committee



• 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


• 2 years in M&A at Lincoln International

• Graduate of EM Lyon and Paris Dauphine


• 4 years in M&A at Leonardo & Co

• Graduate of Paris Dauphine

Investment team

Operations & Portfolio Support team


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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.


• 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


• 4 years as senior auditor at Grant Thornton Luxembourg

• Graduate of La Rochelle Business School


• 3 years as French Press Officer at Mazars

• Graduate of Kedge Business School


• 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

3

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

4

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


17

4


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


Turnover€18m

July 2015


18

4


European leader in maternity photography and direct

marketing to young families


Turnover€75m

October 2011

A leader in French call centreoutsourcing


Turnover€200m

May 2012

French child care nursery group


Turnover€100m

December 2012


19

4


Consolidation platform in the private education sector


Turnover€20m

December 2010

Europe's leading pool enclosure manufacturer


Turnover€60m

March 2011

Leading French B2B distributor of home appliance and

equipment


Turnover€300m

March 2011


20

4


French prêt-à-porter clothing brand


Turnover€20m

March 2008

N°3 French sports retail chain


Turnover€580m

June 2008


21

4

Realised investments (1/3)

Investment dateExit date

European leader in organic fruit and vegetable

distribution


Turnover 2014: €143m

July 2005November 2014

Specialised platform dedicated to Temporary staffing solutions

and Human Resources

Investment type: MBI


September 2010October 2014

French outsourcing specialist focused on non-strategic

industrial purchasing



February 2006February 2013


22

4


French leader in ambient dairy cream and

fruit compote desserts

Investment type: BIMBO, Spin-off


July 2003December 2010

Leading French catalogue and Internet retailer of household linens



October 2006September 2010

Leading European specialist distributor of electronic and

photonic products

Investment type: MBO, Spin-off


April 2006December 2009


23

4


Road Haulage



August 2004March 2008

Pharmaceutical Contract Manufacturing Organisation

(CMO)



April 2004June 2007

Healthcare marketing and communication services

Investment type: MBO, Spin-off


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

25

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

5

PEN: Private Equity Network

27

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:

5

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

new présentation activa capital · 2016. 9. 6. · presentation activa capital, an independent...

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