ZHONGDING GROUP takes majority stake in KACO GMBH

Groupe GRIS successfully completed a capital reorganization through a Management Buy-Out (MBO). The entry of SGCP and BNP Paribas Developpement provided the financial stability to pursue the group's "GRIS 2022" strategic plan, which focused on modernizing production tools and expanding its market share in Germany.

CVC Capital Partners acquired a controlling 90% stake in the holding company that owns Pasubio Group. The transaction was structured as a Primary LBO, transitioning the company from a purely family-owned business to a private equity-backed platform. The founding family reinvested a portion of their proceeds to retain a minority stake (over 10%) and continued to lead the management team, ensuring operational stability and alignment of interests.

The transaction involves the acquisition of a controlling stake in Financière Cofidim by Alpha Private Equity, which is acquiring the interests previously held by Qualium Investissement (60%) and the Monnoyeur Group (40%). The rationale behind the deal is rooted in the significant recovery and stabilization of the group's performance following a challenging post-crisis period. Alpha’s entry is driven by the attractiveness of the group’s multi-channel dimension and its robust digital strategy, particularly within the Feu Vert brand. The investment aims to support the next phase of the group's development, focusing on international expansion beyond its core French market, particularly in the Iberian Peninsula where growth has been accelerating. Furthermore, the strategic roadmap involves diversifying service offerings to include new mobility solutions and accelerating product innovation. The deal structure is supported by a debt package, including senior and mezzanine tranches, reflecting the steady cash flow generation of the underlying automotive service activities. By shifting ownership from a bank-affiliated fund and an industrial family group to a dedicated private equity firm, the group seeks to leverage Alpha’s expertise in scaling mid-sized European companies and professionalizing their operational footprints during a period of rising demand for independent automotive aftermarket services.

Equistone Partners Europe has acquired a majority stake in Mecaplast, the Monegasque automotive supplier. The transaction involves the sale of shares by the family of Chairman Thierry Manni and a reduction in the participation of the Fonds Avenir Automobile (FAA), managed by Bpifrance, which had supported the group since 2009. This strategic shift aims to provide Mecaplast with the financial resources necessary to accelerate its international development. The strategic rationale focuses on a dual growth path: organic expansion through new factory openings in Mexico, China, and Slovakia, and a targeted external growth policy to acquire complementary processes and products. The group intends to strengthen its proximity to major car manufacturers in key regions such as Germany, Portugal, Japan, the United States, and Morocco.

This transaction represents a major secondary leveraged buyout, marking the successful exit of the incumbent private equity consortium that had steered the company through a significant turnaround phase, more than tripling profits during its tenure. The incoming global financial sponsor acquires a controlling majority stake, injecting fresh momentum into the enterprise. To optimize its capital structure prior to the sale, the target had successfully utilized high-yield bond markets to refinance historical debt and distribute dividends. The new partnership aims to build upon this solid financial foundation, focusing heavily on continuous supply chain automation and aggressive external acquisitions to widen the overall product offering and expand its international footprint.

The sale of BCA to Haversham Holdings marks a significant transaction in the European used vehicle market. Under CD&R ownership, BCA has undergone significant transformation, diversifying its business and investing in technology and digital platforms. The company's growth initiatives and operating improvements have resulted in an increase in EBITDA of approximately 85% under CD&R's ownership. The transaction is expected to close in early April, with shareholders of BCA receiving £701 million in cash and £104 million in stock. The deal is the result of a thorough process, with CD&R working closely with its financial advisors, including HSBC Bank plc, J.P. Morgan Limited, Rothschild, and UBS Limited, as well as its legal advisors, Clifford Chance LLP and Debevoise & Plimpton LLP. The transaction demonstrates the attractiveness of the European used vehicle market and the potential for growth and value creation in the sector.

The acquisition of ABL Lights by Vignal Systems is a strategic move to consolidate the European market for work lights and signalling lights for industrial vehicles. By combining their complementary product lines and customer portfolios, the two companies aim to step up their development in Europe, the United States, and Asia. The acquisition will also enable Vignal Systems to extend its geographical coverage into the strategic US market, leveraging ABL Lights' operations in the United States. The deal is expected to boost the group's growth, both in France and abroad, and open up significant cross-selling opportunities with leading manufacturers of utility, industrial, and commercial vehicles. The combination of the two companies will also facilitate the technological switch to LED lighting, which is expected to drive growth over the next five years. With the support of Eurazeo PME, Vignal Systems' majority shareholder, the company has reinjected significant funds into the deal, demonstrating its commitment to driving growth and expansion in the sector.

The acquisition of Vignal Systems by Eurazeo PME is a strategic move to support the company's growth ambitions, particularly in the areas of internationalization and technological transition. By investing in Vignal Systems, Eurazeo PME aims to leverage its expertise in accompanying companies in their development and expansion strategies. The acquisition is expected to provide Vignal Systems with the necessary resources to pursue its growth objectives, including the transition to LED technology and the expansion of its international presence. With Eurazeo PME's support, Vignal Systems is expected to accelerate its growth trajectory, driven by its strong market position, innovative products, and internationalization strategy. The acquisition is also expected to provide opportunities for Vignal Systems to diversify its product offerings and enter new markets, further solidifying its position as a leader in the European signalization market.

The acquisition of IES by Eurazeo Croissance represents a strategic move to support the growth and development of a pioneering company in the electric vehicle charging market. With its strong expertise and recognized products, IES is well-positioned to benefit from the increasing demand for electric vehicle charging solutions. Eurazeo Croissance's investment in IES aims to provide the company with the necessary resources to accelerate its transformation into a global leader in the electric vehicle charging market. The partnership between Eurazeo Croissance and IES's management team is expected to drive the company's growth, both organically and through external opportunities. The acquisition is also expected to enable IES to reinforce its research and development capabilities, further develop its commercial presence internationally, and explore new opportunities for growth. By combining IES's technical expertise with Eurazeo Croissance's financial and strategic support, the company is poised to become a leading player in the global electric vehicle charging market.

Investcorp acquired a majority stake in Autodistribution from a pool of mezzanine lenders (Goldman Sachs, Euromezzanine, CDPQ, Banexi) who had taken control of the company following a debt restructuring in the early 2000s. The transaction values the company at EUR600 million