De Pardieu has advised Indigo Capital on the LBO, led by MBO+, of HPS, a world leader in the design, manufacture and distribution of complex industrial hydraulic cylinders. For the financing of this transaction, the mezzanine debt was contributed by Indigo Capital.
In connection with this LBO, MBO+, a leading investor in high-potential French lower mid-cap companies, has teamed up with Grégory Poitrasson, HPS’ historical CEO, to accelerate the company’s development. This transaction is paired with the acquisition of Codipro, a Luxembourg-based specialist in the top-of-the-range articulated lifting rings. The aim of this move is to bring together two complementary international players with strong brands, recognized in their respective markets for the quality of their products and services, and whose equipment is critical to the production lines of most industries and essential to safety.
The mezzanine debt contributed by Indigo is accompanied by a €45M senior financing, made available by a banking pool comprising Banque Populaire Rives de Paris, BNP Paribas, Caisse d’Epargne et de Prévoyance Ile-de-France, Caisse d’Epargne et de Prévoyance Hauts de France and La Banque Postale.