Our team is pleased to have advised Group SOFIA in the capital reorganisation of OBYO, its Hygiene subsidiary, with the minority entry of Cerea Partners.
About the deal
Group SOFIA is a family-owned group, founded in 1971 and based in the west of France, with approximately €225 million in revenue in 2024, specialising in B2C and B2B distribution.
Founded in 2018 by Group SOFIA, OBYO, the B2B division of the group, has rapidly expanded through the successive acquisitions of eight entities, driven by its shareholder and an experienced team.
In order to pursue its strategy of consolidating the professional hygiene market and strengthening the group’s operational structure, OBYO’s shareholders have decided to open the company’s capital to Cerea Partners through a sponsorless solution. This financing offers limited dilution for historical shareholders and allows the management team to acquire an equity stake in the company.
Cerea is structuring this financing in the form of a bond debt, part of which is committed but not yet drawn, in anticipation of future external growth operations. This is complemented by a minority equity investment and bank financing provided by Banque Populaire Grand Ouest, CIC Ouest, Arkéa, and Crédit Agricole Mutuel Atlantique.
What we did
Investec advised the group shareholders throughout the transaction process, including:
- Designing the transaction strategy,
- Identifying potential minority investors,
- Preparing the marketing documentation,
- Organising a competitive bidding process,
- Actively supporting execution during the due diligence process,
- Setting up bank financing,
- Handling the final negotiations.
“Alexandre Ebin and his team at Investec provided us with highly efficient support, both through their exceptional work delivered within a very short timeframe and the quality of their interactions with all the stakeholders involved in this matter. This human connection was invaluable for Sofia in ensuring the success of its first LBO project.”
Philippe Lefauconnier
CEO, Group SOFIA
