Clearwater International France has advised the shareholders of France Thermes’ on the disposal of the group to the private equity fund Gimv, together with France Thermes’ Chairman and management team.
Since 2013, France Thermes was owned by Normandie Capital Investissement, Initiative et Finance, Volney Développement, and Chairman of the group, Sylvain Serafini. The group owns, develops and operates two thermal resorts in Bagnoles de l’Orne (Normandy) and Châtel-Guyon (Auvergne). In 2017, France Thermes welcomed approximately 20,000 guests and generated turnover of c.€19m.
The group is one of the French leaders of the thermalism market. Its growth has been driven by its focus on high-quality services, and by a constructive collaboration with all the players in its network – healthcare professionals and local authorities.
The Clearwater International team was composed of Director Nicolas Saint-Pierre and Analyst Edouard Lancksweirt, with debt advisory support from Director Laurence de Rosamel, and Associate Paul Assaël.
Hubert De Germay, Partner, NCI – Normandie Capital Investissement said: “Clearwater played a key role by our side in this transaction. They perfectly understood the company and its developing strategy which has simplified the process: we are very happy with this collaboration.”
Nicolas Saint-Pierre, Director, Clearwater International added: ”We are pleased to have assisted France Thermes’ shareholders in this transaction which demonstrates the dynamic nature of the consolidated thermalism market.”