De Pardieu Brocas Maffei has advised BNP Paribas, BNP Paribas European SME Debt Fund and Banque Populaire Val de France (the lenders) in connection with the OBO transaction of Philogeris. Yann Reboulleau, founder and CEO of Philogeris Group, buyouts 123 IM’s stake to become the sole shareholder of the Group.
Over the past 10 years, Philogeris Group has expanded to become the 15th player on the French retirement home market, with an activity focusing on 2 different business models: directly-owned nursing homes and nursing homes under management (notably on behalf of 123 Investment Managers and more recently on behalf of public entities).
Thanks to a subordinated bond financing (“sponsorless”) provided by Edmond de Rothschild Investment Partners and Rive, combined with a senior financing mixing banking debt and private debt provided by BNP Paribas, BNP Paribas European SME Debt Fund and Banque Populaire Val de France, this transaction enables Yann Reboulleau, founder and CEO, to acquire the entire capital of the Group and to offer liquidity to 123 Investment Managers, shareholder since 2010.
Beyond the OBO, the financing put in place will allow Philogeris Group to seize new external growth opportunities and pursue its ambitious development strategy. 123 Investment Managers will keep supporting Philogeris Group’s growth strategy, notably though the acquisition of nursing homes that could be managed by Philogeris Group on behalf of 123 Investment Managers.