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Winston assists Eurazeo in the financing of Vulcain Ingénierie's fourth LBO

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Insight

Winston assists Eurazeo in the financing of Vulcain Ingénierie's fourth LBO

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1 Min Read

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Transactions

April 10, 2024

Winston advised Eurazeo in the establishment of a program for the issuance of PIK bonds in euros. This PIK debt was intended to partially finance the acquisition price of the Vulcain group as well as the financing of external growth operations.

This PIK debt is structurally subordinated to senior debt arranged by a pool of leading banks (including CACIB, HSBC, BNP Paribas, and CIC).

The financed transaction represents the fourth LBO of the Vulcain Ingénierie group, specializing in energy transition and life sciences. On this occasion, in addition to the reinvestment of historic managers, a pool of financial investors including Ardian, Tikehau Capital, EMZ, SIPAREX (SIGEFI), Bpifrance Investissement, and Amundi Private Equity participate in the new round of funding, resulting in a valuation of the Vulcain group exceeding 600 million euros.

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