About the deal
Founded in 2008 in Landivisiau (Brittany, France) by Michel Bris, Christophe Abjean and Stéphane Pluchon, AB Process is a leading industrial automation and robotics system integrator. The Group designs and integrates custom robotic and automated solutions to automate processes, in particular end-of-line automation for the food industry. Ever since its inception 15 years ago, the Group has built strong brand awareness on its market leveraging (i) its customer-oriented value proposition, with in-depth understanding of customer needs and problematics to design a tailored solution that properly fits into its production process and fosters efficiency and flexibility, (ii) its technical expertise articulated around its in-house mechanical and automation departments, and (iii) its strong reputation in the food & agro sector.
Further to a primary LBO in 2020 sponsored by Trajan Capital who concomitantly brought on board Brian Boulanger as new CEO, the Group has experienced strong organic growth over the recent past – 12% per annum on average since 2020 – and completed several acquisitions such as Coaxial Technologie in 2022 and LG Tech in 2023. The Group generates nearly €25m of sales.
Following this transaction, Cerea Partners becomes the new majority owner alongside a pool of minority financial investors (Bpifrance and regional partners Sodero and Unexo) and the management team which increases its stake in the capital. Former majority shareholder Trajan reinvests in the new deal. Supported by its new shareholders, the Group is now entering a new phase in its development, with four key priorities: (i) rounding out the workforce, with further hires to accommodate the group’s growth and meet future demand for automation solutions, (ii) consolidate its position at regional level and continuing its develop at the international scale, (iii) continue to expand the group through external growth, and (iv) helping the group successfully navigate its CSR transition.
What we did
Capitalmind assisted the shareholders of AB Process to reorganize the shareholding structure: structuring the deal, defining the deal tactics, overseeing the VDD works, managing the DD process, securing the senior debt financing, providing an active execution support in negotiating with prospective bidders, etc.