Paris, May 17th, 2016 – With the support of its shareholder Caisse des Dépôts, Innovation Capital’s management has been working to join LBO France over the past few months. The agreement provides for the sale of 100% of the capital of Innovation Capital by Caisse des Dépôts.
In this context, LBO France, a major private equity player, will create an Innovation Department, mainly focused on health, which will receive Innovation Capital’s team. The SISA Fund dedicated to digital health, with €68 million in commitments to date, lies at the heart of Innovation Capital’s activity and will be managed by the same team.
This consolidation is part of an industrial project which capitalizes on both the management companies’ complementarities. It will give Innovation Capital, a key player of investment within innovative SMEs, the opportunity to continue its development while benefiting from LBO France’s resources and complementary expertise.
The completion of the transaction is subject to customary regulatory approvals.
Robert Daussun, Chief Executive Officer of LBO France, said: “LBO France continues its development and is delighted about this acquisition, which is the first step of a more ambitious strategy to support innovation. Innovation Capital’s team will be the perfect partner to match this ambition.”
Chantal Parpex, President & Managing Partner of Innovation Capital, stated: “This partnership based on a common vision of investment within innovation, particularly in the health sector, is an ideal opportunity for both our companies.” Valéry Huot, Managing Director of Innovation Capital, added: “We are happy to join LBO France as part of this acquisition, which gives significant opportunities to our investors and also to the companies we support.”
Franck Silvent, Director of Finance, Strategy and Holdings of Caisse des Dépôts, specified: “This is a new step forward for Innovation Capital, which has developed since 1996 within the Group. This consolidation, resulting from a common reflection between both structures’ management teams, is a guarantee of durability and development for Innovation Capital’s team.”
* * *
Transaction advisors
Legal
• Caisse des Dépôts: Allen & Overy – Marc Castagnede, Arnaud de Rochebrune
• LBO France: Mayer Brown – Xavier Jaspar, Sabina Comis
M&A
• Caisse des Dépôts: Natixis Partners – Jean-Baptiste Marchand, Julien Plantive
* * *
About LBO France
As a key player in private equity with € 4.5bn of capital raised, LBO France is an independent company which has been supporting French companies in their growth for more than 30 years. Its strategy is based on three investment approaches in non-listed companies, managed by dedicated teams: (i) Mid Cap private equity via the White Knight funds, (ii) Small Cap private equity via the Hexagone funds, (iii) real estate via the White Stone and Lapillus vehicles. LBO France is 100% owned by its management and has more than 50 professionals.
About Innovation
Capital Founded in Paris in 1996, with a local presence in the Silicon Valley, Innovation Capital is an international key player of investment within innovative SMEs. Its team has significant experience in both information technologies and healthcare at large.
* * *
Press contacts
Caisse des Dépôts
service.presse@caissedesdepots.fr / + 33 (0)1 58 50 40 00
LBO France
Aliénor Miens – + 33 (0)1 53 32 84 77 – + 33 (0)6 64 32 81 75 – alienor.miens@citigate.fr
Daiana Hirte – + 33 (0)1 53 32 78 90 – + 33 (0)7 60 90 89 12 – daiana.hirte@citigate.fr