Eurazeo, via its Corporate Financing (Private Debt) business and its Eurazeo Corporate Relance (ECR) fund , has recently invested in Patriarche, a multi-discipline architecture group founded in 1960 and ranked among France’s top five architecture firms.
The investment is ECR’s third transaction in the last four months, after Manufactors Invest (workwear) and “Projet Etoile” (media). ECR is also in exclusive talks to support the development of three other companies, which are likely to join the portfolio in early 2023.
Eurazeo Corporate Relance (ECR) is an investment fund focused on successful, robust, family-owned small and medium-sized businesses. It works with companies that are well positioned in their markets, providing them with solutions that strengthen their capital base with limited dilution as part of a recovery or growth acceleration plan.
The six aforementioned companies should represent €50 million of investments by ECR since its first close in late May 2022, confirming the relevance of its position as an alternative to minority development capital.
The gross IRR expected from Eurazeo Corporate Relance’s first three investments is in line with its stated strategy, and the pace of its investments will remain high in 2023 since it is already exploring an increasing number of opportunities.
Eric Gallerne, Managing Partner – Private Debt, said:
“The depth of the sponsorless subordinated debt market and our sourcing capabilities give us access to a large number of opportunities among the most promising small and medium-sized businesses. We are grateful for the trust placed in us by Eurazeo Corporate Relance’s initial investors. We are looking forward to developing ECR further and continuing to invest in successful family-owned businesses that show major potential.”
Valérie Ducourty, Managing Director – Corporate Financing, added:
“We support the development of companies that are national leaders and key drivers of their regional economies. Each investment is intended to help the company in question improve its economic performance and transform its business to address environmental and social impacts more effectively. ECR helps to strengthen the capital bases of its investees, and its solutions are particularly well suited to a period of reduced economic visibility, which naturally favours consolidation between companies.”