- €15m transaction carried out as an Owner by Out (OBO)
- Limited dilution for the founder, who remains the main shareholder
- New step in the acceleration of LYRIS’ development, 10 years after its creation
LYRIS is building a first OBO thanks to a bond financing provided by Entrepreneur Invest and the support of its historical bank, the Caisse d’Epargne. This financial operation for a total amount of €15m allows its founder, Rodolphe SEYNAT, to remain an ultra-majority shareholder and to open its capital to key managers, including Mathieu CLOCHE who, in this context, is appointed CEO of LYRIS.
LYRIS, the industrial and logistics building specialist with an exceptional track record of profitable growth
LYRIS is the most dynamic builder in the logistics real estate market, with a turnover that rose from €5m to €42m between 2015 and 2020. Supported by the growth of this market segment, which benefits from a land area for warehouses that is three times greater in e-commerce than in traditional commerce, LYRIS has gained significant market share thanks to its organisation focused on efficiency and customer satisfaction, as well as its knowledge of the specific regulatory environment (ICPE).
Its unique business model allows it to combine growth, profitability and high cash flow generation.
The structuring of an operation tailored to the ambitions of LYRIS and the needs of its management
In this context, Entrepreneur Invest’s bond financing offer met the management’s needs for this OBO: to allow LYRIS to benefit from a financial tool that is not very dilutive for the founder while relying on an active investor to support its next development steps.
Indeed, LYRIS’ objectives are part of an ambitious development plan, focused primarily on high value-added operations. These should enable LYRIS to sustain its profitability growth over the next five years.
Rodolphe Seynat, founder and Chairman of LYRIS, said: “I was attracted by Entrepreneur Invest’s differentiating approach, characterised by very non-dilutive financial tools and active, tailor-made support. This financing, which is similar to a real partnership, is a great springboard for LYRIS. Our ambition is to be recognised as one of the leading players in this rapidly expanding market. »
Théophile BASSER, Investment Manager at Entrepreneur Invest, added: “We were convinced by the organisational model of the LYRIS group, which relies on a high quality management team and new technologies to digitalise its business, thus enabling the company to achieve a high level of productivity and customer satisfaction. This has resulted in strong growth and profitability. Moreover, LYRIS has managed to make a name for itself in the logistics real estate sector, a deep and particularly dynamic market. »
Players and advisors of the operation
LYRIS team: Rodolphe SEYNAT – Mathieu CLOCHE
Sell-side Investment Banker / M&A Advisor : Stanislas MAMEZ | Mambo Finance
Sell-side Legal and Tax Advice: Barbara LE CHAPELLIER – Stéphane BUFFA | Kairns
Financing advice : Damien MINA| Le Comptoir Financier
Entrepreneur Invest team: Théophile BASSER – Anastasia BIZARD
Entrepreneur Invest Legal Counsel : Stéphanie COSTES-LE BRIS | SLB Avocat – Lucie LAMARRE
Legal Audit : Stéphanie COSTES-LE BRIS | SLB Avocat
Financial Audit: Antoine FLECHAIS – Pierre GAUCHE – Lina DJOUBRI |Squareness
Debt: Julien JONASSON | CEIDF – Mathieu LE-SECH | CEHDF
Legal advice on debt: Alexandre TRON – Florian GUILLON – Marianne PHANKONGSY | VOLT ASSOCIATES
As a General Contractor and Property Developer, LYRIS has become over the last 10 years the specialist in turnkey industrial and logistics buildings on a human scale in France, committed to its clients in achieving results. Created in 2011, LYRIS operates throughout France to carry out “turnkey” operations for new construction, renovation, restructuring or compliance for all types of work. LYRIS is specialised in the Industrial, Logistics and Tertiary sectors and has a panel of suppliers and partners who are specialised and recognised in all these sectors. The company, which has experienced annual growth of 73% over the last 5 years, has achieved a turnover of €42 million in 2020 and has around 10 employees in 2021. Since its creation, LYRIS has completed 70 projects, representing more than 500,000 m2 of buildings built, brought into compliance or renovated for more than 50 clients.
More information on www.lyrisgroup.com
About Entrepreneur Invest
Created in 2000, Entrepreneur Invest is an independent AMF and AIFM approved management company, specialised in non-listed funds, owned and managed by its founders. It manages several investment funds with assets under management of nearly €1 billion. A major player in equity and bond financing for SMEs, Entrepreneur Invest has carried out more than 200 investment operations combining capital contributions and support for managers in their strategic choices required for the successful development of their company. This is achieved through, among other things, the sharing of experience by the members of the investment team, their participation in strategic discussions and access to a large network of qualified partners.
More information on www.entrepreneurinvest.com