CREDITRELAX has just completed its fourth LBO in Paris negotiating on behalf of the buyer Workshops Alain Pras senior debt of million euros from two banks.
The context of this LBO
Alain Pras, founding Chairman of the Workshops Alain Pras (PAA), leading French actor of the design and implementation of business models for industrial and service companies seeking to sell his company. He was in contact for several months with Mark Laubier who wished, after many years in trading rooms to engage in the entrepreneurial venture.
CREDITRELAX entered into relationship with Mark Laubier through the device "Pass the Baton" of the House of Commerce in Paris with two associates CREDITRELAX are regular players.
Laubier Mark was already in contact with the two banks in the target company to apply for a senior debt of € 1 million to supplement a rising tide of cash, convertible bonds for a capital investor and a co OSEO.
"At first, the two bankers of the target were very positive, but one of them was slow to give me his answer, while the other was given a co-financing only up to 450,000 euros, it would therefore miss 100,000 euros, which implied raising additional cash from the target, and thus a tighter liquidity. I am so worried, and sent to CREDITRELAX "said Mark Laubier.
CREDITRELAX played a role in the framework of this approximation
CREDITRELAX obtained a written agreement for a new bank (previously unknown to the Ateliers Alain Pras, seller and buyer) in late 2008 for an amount of 500 000. In early 2009, teams CREDITRELAX received the second tranche of 500,000 euros in early 2009, with another bank.
Both funds have been negotiated at the same rate negotiated with insurance to avoid heavy medical examinations.
Jean-Philippe Deltour, one of the two partners said CREDITRELAX "A purchaser of SMEs is often helpless when it comes to getting a loan. It is naturally addressed to the bank and do not always have the contacts to put banking networks in competition. We know the specifics of each facility and we know that we can present a particular case. We must go quickly in this type of transaction. "
Mark Laubier told about this opportunity CREDITRELAX: "In three days they put me in connection with an institution that I agreed to finance half the project with a lower rate of 0.70%. In one month the financing of the buyout was completed "
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