Bpifrance helps engineer $24m Segex buyout

The secondary buyout of Segex means employees now hold approximately 60% of the shares.

Bpifance, the public investment bank of France, has taken part in a €22m ($24m) secondary buyout of France-based civil engineering company Segex through its Fonds Investissement Régions 1, according to RealDeals.

Idinvest Partners, through its Novi 2 fund, and Ouest Croissance also took part in the deal, which further featured 80 company executives and 700 employees, through a corporate investment fund called Fond Commun de Placement d’Entreprise.

Segex is now majority owned by staff, who told close to 60% of all shares.

The transaction provided an exit to Edmond de Rothschild Investment Partners, UI Gestion and Socadif, which backed a previous management buyout in 2010.

In addition to funding, Idinvest and undisclosed banks injected a further €6m to support future acquisitions and investments. LCL and Palatine provided senior debt.

Segex develops and maintains public infrastructures and spaces as well as natural environments. Its clients include local authorities, industrialists and developers.

See more from this Government Report: France


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