Reorganisation by Dumont Investissement of its shareholding base
FR
Sycomore Corporate Finance acted as exclusive financial advisor to Dumont Investissement
The transaction will be mainly financed through the implementation of loans, with maturity ranging between 5 to 7 years, at Dumont Investissement level, granted by major French banks, as well as private debt providers. The remaining financing of the transaction (ca. 25%) will be conducted using the receipts from the exceptional dividend distribution conducted by Groupe SAMSE and announced in November 2020.
Furthermore, Dumont Investissement announced that it will pursue its efforts to open its share capital to its managers allowing them to further benefit from Groupe SAMSE’s future performance, through the implementation of a co-investment plan at Dumont Investissement level available for all employees of Groupe SAMSE. To date, over 200 managers are in the process of subscribing to this co-investment plan.
Rationale
SAMSE is a leading French company specialized in the distribution of building materials and equipment for both professionals and individual customers. It operates on 2 complementary segments: wholesale business and DIY business; and distributes its products through an extensive network of over 350 outlets covering 55 departments in France. SAMSE conducts its operations through a portfolio of 25 brands and employs over 5,770 people. In 2019, SAMSE reported €1,499m of revenues and €114m of EBITDA (post IFRS 16).
Dumont Investissement, a holding company, Is the historical majority shareholder of SAMSE. It was set-up in 1988 within the framework of the RES (“Reprise d’Entreprise par ses Salariés”) implemented by SAMSE’s employees. Following the acquisition, in February 2020, of 21.13% stake in Groupe SAMSE from BME France (former CRH France Distribution), it currently holds 77,30 % of Groupe SAMSE’s capital.