Crédit Agricole Private Equity takes over Exclusive Networks

Crédit Agricole Private Equity has acquired a 69% stake in the Exclusive Networks group, a B-to-B distributor of information systems security solutions, as part of a primary LBO alongside the group's chief executive and key managers, Edmond de Rothschild Investment Partners, which partially reinvests, and Socadif.

Based in Boulogne-Billancourt (Hauts-de-Seine department), Exclusive Networks is one of Europe's leading added-value distributors specialising in security, storage and network solutions for business users.

It positions itself as exclusive partner to manufacturers of information systems security products for business users in France and the international markets, offering them a premium technical service and global support, marketing promotion and training in the products it sells to its reseller network.

Exclusive Networks now works with forty vendors, mainly in the United States, and more than 1,500 resellers in some ten European countries. It generated revenue of €82.6 million in 2009, including €40 million in France, and employs 127 people.

The aim of the LBO is to create a European leader in the distribution of information systems security solutions by continuing and developing the strategy already put in place by management. The group's two key strategic aims are to strengthen its vendor base in countries where it already operates and to accelerate its pan-European expansion, particularly in Germany and Scandinavia, through acquisition.

Olivier Breittmayer, Chairman and Chief Executive of the group, commented: "Crédit Agricole Private Equity's arrival as a shareholder marks a new milestone in the group's development and will help drive our strategic ambitions."

Philippe Zurawski, Director of LBO & Expansion Capital at Crédit Agricole Private Equity, added: "Exclusive Networks has enjoyed strong growth in the past, outperforming the market, and has demonstrated its ability to expand through acquisition. We intend to support the group in its ambitious projects with the aim of tripling its size within five years."

Parties involved

Crédit Agricole Private Equity
Philippe Zurawski, Director, LBO & Expansion
Nicolas Trombert, Investment Manager, LBO & Expansion
Mikaël Schaller, Associate, LBO & Expansion

Edmond de Rothschild Investment Partners
Sylvain Charignon, Partner
Laurent Tourtois, Senior Associate

Socadif
Bernard Garnier, Chief Executive
Carole Salabi, Senior Associate

Advisers to Crédit Agricole Private Equity
SJ Berwin (legal): Jérôme Jouhanneaud, Isabelle Meyrier
8 Advisory (financial audit): Stéphane Vanbergue, Christophe Puissegur
Grant Thornton (legal, employment and tax audit): Evelyne Crantelle, Bruno Boulanger
AMR (strategic audit): Florent Jarry, Simon Robbins

Banks
CIC (arranger): Pascal Vallanchon, Marion Faye
BNPP (co-arranger): Myriam Beque, Sébastien Berthe
Société Générale: Dominique Leroy
BRED: Patricia Morrachini

Legal adviser to the banks: Jeantet & Associés (Alexandre Tron)

Financial advisor to the vendors: Aelios Finance (Thibaut de Monclin, Patrick Vignaud, Pierre Dropsy)

Legal adviser to the vendors: Bird & Bird (Marc Baffreau, Guillaume Jarry)