Thanks to CFK Finance, a high precision mechanics company is bought by a high calibre manager.
SERMP (Société d’Etude et de Réalisation de Mécanique de Précision) has just been bought by an engineer who had always wanted to own a company.
“It only took CFK Finance eight months to negotiate the acquisition of our company,” says Jean-Pierre Astolfi, CEO of SERMP (Société d’Etude et de Réalisation de Mécanique de Précision), delightedly. Owner for twelve years, he had made this SME (approximately 40 staff and a turnover of 4.8 million Euros), based in Rambouillet, a well-known player in the high precision mechanics industry. Among its clients are large groups as prestigious as Thales Optronique, civilian nuclear companies and Renault Formula 1, for whom, for example, it makes, on its digital machine-tools, hydraulic valves which regulate the fuel injection/carburation.
With retirement just around the corner for him, and Nathalie Hanriot, the managing director, wanting to devote herself to new personal projects, Jean-Pierre Astolfi was looking for a buyer who both knew the market intimately and who had a real project for development. After the failure of the first transaction, he asked CFK for advice. “We contacted several company transaction services consultancies,” he recalls. “CFK was the first to respond to us and their business manager knew our business sector inside out.”
The sell-side assignment was signed in February 2008. It only took Jean-Jacques Faurens, Associate at CFK, a few months to identify Pascal Geslot as the best candidate of all the potential buyers. “I always wanted to have my own company,” says Pascal Geslot, a mechanical and electronic engineer, who has more than twenty-five years’ experience in large aeronautical and telecommunications groups. His LBO project, and the management team (a finance specialist and a technical expert) that he had around him made all the difference both for the seller and his banks. The transaction was concluded at the end of September.
“The professionals at CFK Finance are charming people who looked after us very well: among other things, they conducted the financial negotiation perfectly on our behalf,” says Jean-Pierre Astolfi who, for six months, will act as a point of contact between the clients of his former company and Pascal Geslot.
Sellers: Jean-Pierre Astolfi and Ms Nathalie Hanriot (50% of the shares each).
Buyers: Pascal Geslot, partnered with Mrs Galleron and FRENEAT through the holding company, ELTON.
CFK Finance / Jean-Jacques Faurens, Transaction Coordinator,
Legal: Ms Marie-Hélène Eyraud,
Accountant: Jean-Claude Robert (ERCEJI).
Legal: Ms Catherine Le Guen.
Accountant: Claude Mayer (PRIM-AUDIT),
Funding of the acquisition:
Groupe Banque Populaire, Société Générale, Oseo.
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