NEWS



  • 10/10/2019

    Cerea Private Debt arranges a mezzanine financing for the acquisition of Groupe Frio

    Cerea Private Debt arranges a mezzanine financing for the acquisition of Groupe Frio by Azulis Capital and its management team

    Established in 1993, Groupe Frio is a provider of refrigeration equipment, with market leading positions in France and across Europe in wine cellars, its historical business, with such established brands as La Sommelière, Climadiff and Avintage.In addition to this category, the company supplies domestic and professional refrigeration equipment through its Frigelux and Interfroid Services brands. Based near Le Mans, France, Groupe Frio is active in 60 countries, with 30% of its revenues generated outside of France.

    Building on its strong presence in all key distribution channels (supermarkets, specialised retailers, cash & carry, e-commerce and kitchen stores), its flexible business model based on production outsourcing to European and Asian partners, its diversified customer base and broad product range, Groupe Frio has grown to become the key player in its sector.


    In particular, these strengths have enabled the company to capture much of the growth in consumer appetite for wine cellars in France and increasing demand for more upscale products. As a result, group revenues have been expanding steadily over the last 5 years, reaching close to € 50 million in 2018.


    Supported by Azulis Capital, the management team has reinvested significantly in the transaction and aims to derive further growth on the French market and to expand international sales by leveraging its strong innovation capabilities and continuing to diversify the product range across neighbouring categories, such as medical refrigeration, for which the company has recently developed a new offering.


    Cerea Mezzanine III Fund arranged the mezzanine debtas part of the wider acquisition financing.


    ABOUT CEREA PARTENAIRE


    Established in 2004, Cerea Partners supports SMEs across the Agrobusiness sector (companies along the agro-food value chain, including: food, agro-industry, distribution, catering, equipment, packaging, logistics and associated services) in their industrial, commercial and geographic development through both organic and external growth.

    Cerea Partners has raised 1.4 billion euros from institutional investors and has invested in nearly 130 transactions. As the partner of choice of Agrobusiness companies, Cerea Partenaire provides tailored financial solutions ranging from buyout to mezzanine and senior debt financing.

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