International law firm Bird & Bird assisted Ciclad, a long-standing player in the French private equity market, in acquiring a majority stake in the capital of Capelec, a Montpellier (south of France)-based manufacturer of equipment for monitoring motor vehicles and measuring air quality.
This OBO transaction, carried out alongside the CEO, Thierry Coton, son of the founder and head of the company since 2005, is part of Ciclad’s development strategy, which, through its Ciclad 7 fund, is making its sixth investment. Ciclad’s ambition is to support Capelec in consolidating its leading position in France, pursuing its international development and penetrating new segments with the marketing of ultrafine particle sensors.
Founded in 1989, Capelec designs and sells equipment for technical inspection and maintenance of motor vehicles (braking, lighting, pollution emissions). The company, which employs around 60 people, serves nearly 900 customers in more than 80 countries and has a turnover of close to €30 million, nearly 60% of which is generated internationally.
Bird & Bird advised Ciclad with a team comprising partner David Malcoiffe and associate Clément Le Molaire for corporate aspects, as well as partner Étienne Guillou, assisted by associates Constance Brouquier and Mérine Avaby, for due diligence aspects.
Capelec was advised by Lamartine Conseil on corporate aspects by a team comprising partner Clyve Monfredo and associates Florian Tranchecoste and Marine Canu.
