Acquisition of Poncin Métal by Sofimac Régions

DELSOL Avocats was involved in the sale of Rhone-based company Poncin Métal to Sofimac Régions.

Sofimac Régions was advised by Emmanuel KAEPPELIN, Séverine BRAVARD and Leslie d’ALASCIO on the fiscal structuring aspects of the deal, and on the bank financing.

Poncin Métal is restructuring its capital with the support of two financial investors. Former CEO Pascal Mortreuil, the majority shareholder since 2000, is disposing of his stake in the Rhone-based firm, a specialist in fine sheet metal work.

Sofimac Régions was ultimately chosen to acquire the majority of the shares, via its growth capital/LBO vehicle Sofimac Croissance 3. With funding of €30 million after an initial closing last July, it is providing tickets of between €0.2 million and €5 million. Poncin Métal is its fifth investment line after See Janvier, Impack, SBA Colitel and Snowleader. This leveraged deal is accretive for Poncin Métal CEO Jean-Charles Valet, and brings in four key managers as shareholders. Most of the original financial partners are exiting, including Aquasourça, a shareholder since 2007 with a stake of some 35 %, Etoile ID, Rhône Dauphiné Développement and Esfin Participations. A shareholder since 2000, Esfin Participations will, however, be reinvesting part of the proceeds of the sale. Pascal Mortreuil also retains a minority shareholding.