Willkie Advises Latour Capital on Syclef’s Refinancing and Capital Reorganization

October 29, 2019

The Paris office represented Latour Capital on the refinancing and capital reorganization of Syclef, a leading provider of industrial and commercial refrigeration and cooling systems in France.

The Paris office recently advised Latour Capital on the refinancing and capital reorganization of Syclef, a leading provider of industrial and commercial refrigeration and cooling systems in France.

Latour Capital, which had acquired a majority stake in Syclef in 2015, is now reinvesting in the group alongside a large majority of the historical managers. Ardian arranged a unitranche financing facility to support the refinancing and capital reorganization. The financing package also includes a dedicated and committed acquisition line to facilitate future build-ups.

Syclef was created through the combination of various SMEs from the South-East of France in 2003 and has expanded though organic growth to become, over the last 15 years, the leading multi-regional actor in this sector. The group has also expanded through external growth with more than 10 acquisitions over the last three years, resulting in 31 production sites in France. The group employs 540 people and realized a turnover of nearly €150 million.

The Willkie team was led by partner Christophe Garaud and included partner Paul Lombard, special European counsel Philippe Grudé and associate Gil Kiener.