COURTEPAILLE acquired by CREDIT MUTUEL EQUITY

CM-CIC Capital Finance acquired a minority stake in the restaurant chain Courtepaille from Salvepar, an investment holding company. This transaction represents a complete exit for Salvepar, which had been part of the shareholder structure since a leveraged buyout approximately two years prior. Salvepar's decision to divest its holding was driven by a strategic portfolio review aimed at exiting assets considered less profitable or too narrowly focused on the domestic French market. The deal allows Courtepaille's majority owner, the private equity firm Fondations Capital, to continue its stewardship of the company while introducing a new financial partner to the capital structure. The transaction occurred during a challenging period for the French restaurant industry, which was experiencing a general decline in customer traffic. Despite these market headwinds, Courtepaille's management, with the backing of its primary sponsor, was actively working to increase its market share and pursue growth. This included a strategy of network expansion through the planned opening of new restaurant locations. The change in minority ownership provides a reconfigured investor base to support the company's ongoing operational and strategic initiatives.

It is worth noting that the fund Fondations Capital took control of Courtepaille through an LBO in 2010.