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June 18th, 2020 Natixis Partners advised C’PRO Group on the acquisition of KODEN

On June 18th 2020, C’PRO Group completed the acquisition of KODEN, its main competitor on the market of selling, maintaining and financing printing solutions, majority-owned by Naxicap Partners since late 2014.

Founded in 1991 in Valence, France, C’PRO Group is the independent leader in information processing and digital transformation for small businesses, SMEs, mid-cap companies and territorial collectivities. Historically specialized in printing solutions, C’PRO Group has successfully developed into three complementary and value-added activities (document management, IT and data hosting, telecom) to become the preferred contact for more than 50,000 clients in France.

The development of C’PRO is also the result of a proactive external growth strategy, with more than 100 acquisitions completed since the creation of the Group.

With the acquisition of KODEN (circa €170 million in revenues), C’PRO will give birth to a Group of about 2,500 employees, within over 160 offices across the country, generating revenues of over €600 million with more than 80,000 clients, and an EBITDA of almost €100 million.

The transaction is financed by a syndicated loan of circa €455 million, provided by a consortium of banks led by Société Générale, Natixis and BNP Paribas (MLAs and Bookrunners), as well as Banque Populaire Auvergne Rhone Alpes, Credit Industriel et Commercial and HSBC France (MLAs). The syndication conducted during the 2nd quarter of 2020 was a success, enabling Amundi, Credit Agricole, CIC Private Debt, LCL, Banque Palatine and Banque Tarneaud to join the pool.

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M&A team:

boris picchiottino
managing director

romain clerc
vice president

véran bérard-quélin
analyst


Debt Advisory Team:

virginie gasnier
managing director

patrice raulin
executive director

 

natixis team:

hervé guérin
head of auvergne rhône alpes hub

stéphane alexandre
senior relationship manager