{"id":44856,"date":"2024-03-06T10:43:30","date_gmt":"2024-03-06T09:43:30","guid":{"rendered":"https:\/\/capitalmind.com\/?post_type=deals&#038;p=44856"},"modified":"2024-03-06T12:03:50","modified_gmt":"2024-03-06T11:03:50","slug":"secondary-lbo-for-syscom-prorep","status":"publish","type":"deals","link":"https:\/\/www.investec.com\/advisory\/deals\/secondary-lbo-for-syscom-prorep\/","title":{"rendered":"Secondary LBO of Syscom Prorep"},"content":{"rendered":"\n<p><strong>Investec has advised the shareholders of Syscom Prorep on a secondary buy-out sponsored by Siparex and Initiative &amp; Finance<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-about-the-deal\">About the deal<\/h2>\n\n\n\n<p>Founded in 2013 by R\u00e9gis du Manoir and Herv\u00e9 Dunand-Sauthier, Syscom Prorep has become a leading Franco-Italian electronic components and sub-assemblies value-added supplier and integrator. The Group which employs c.90 people sources (from an extensive panel of manufacturers) components, embedded systems, displays, IoT, connectivity components and promotes them to 1,300+ clients active in various industries. Syscom Prorep distinguishes itself by its ability to intervene upstream of its clients&#8217; R&amp;D projects, advising on the most appropriate technical solutions to meet customer specific demands and to integrate sub-assemblies, industrial PCs and on-demand modules.<\/p>\n\n\n\n<p>Backed by Siparex Private Equity since April 2021, the Group has accelerated its growth with revenues being multiplied by 2.5x within 3 years, hitting as such the \u20ac60m bar two years in advance. This growth was built on solid organic initiatives (customer base expansion, increase in average revenues per client, strengthening of the management team) as well as on 2 bolt-on acquisitions completed in 2023: the acquisition of La Tecnika Due (Italy) in April 2023, and the acquisition of Atemation (France) in November 2023.<\/p>\n\n\n\n<p>Given the Group\u2019s performance, the long-term growth of the European market and consolidation opportunities available in Europe, the founders have set a new ambition for the Group, whereby the Group would become even more European and double its size. <\/p>\n\n\n\n<p>To help achieve this ambition, the shareholders have appointed Investec to organize a process to select a new financial partner able to support future growth next to Siparex Private Equity, and to secure additional financial resources (equity and debt) to seize new bolt-on acquisitions. <\/p>\n\n\n\n<p>Following the process led by Investec, Initiative &amp; Finance emerged as the partner best suited to effectively support the Groug, along Siparex.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-we-did\">What we did<\/h2>\n\n\n\n<p>Investec assisted the shareholders throughout this project:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Deal preparation: define possible options, oversee commercial and financial VDD reports, defining the equity story incorporated in the marketing documentation, run preliminary discussions with potential partners ahead of the sales process to pre-select the most suitable financial partners, prepare for due diligence, prepare a lenders\u2019 education.<br><\/li>\n\n\n\n<li>Deal execution: set up &amp; run a limited and fast auction process (coffee sessions, solicitation of indicative offers, management meetings, DD monitoring, assistance in final negotiations both with private equity houses and lenders).<\/li>\n<\/ul>\n\n\n\n<p>This new deal enriches Investec\u2019s track-record in the electronics space. It also illustrates its commitment in supporting clients on the long-term as Investec assisted Syscom Prorep founders 4 times within 4 years (1 acquisition in 2020, 1 primary OBO in 2021,&nbsp; 1 acquisition in 2023, a secondary buy-out with this deal).<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cThe Investec team has provided us with outstanding support for 4 years now, with 4 important projects executed together over that period. Investec&#8217;s support was particularly decisive in our first acquisition in Italy, and enabled by the team&#8217;s country knowledge. The secondary LBO was a natural step, with a smooth yet rapid execution. We will further collaborate with the team to execute our new 5-year strategic plan.\u201d<\/em><\/p>\n<cite>R\u00e9gis du Manoir, Co-founder &amp; CEO, Syscom Prorep<\/cite><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Investec has advised the shareholders of Syscom Prorep on a secondary buy-out sponsored by Siparex and Initiative &amp; Finance About&#8230;<\/p>\n","protected":false},"featured_media":0,"template":"","dt":[16841],"sector":[26,29],"dealtype":[37,35,36],"clienttype":[34,38],"class_list":["post-44856","deals","type-deals","status-publish","hentry","dt-lbo-2","sector-business-services","sector-industrials","dealtype-lbo","dealtype-debt-advisory","dealtype-equity-growth-capital","clienttype-founders-entrepreneurs","clienttype-financial-investors"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Secondary LBO of Syscom Prorep | Investec Business 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