Clearwater International has advised the shareholders of Phenix Groupe, a French leader in outdoor media communication, on a fundraising from CM-CIC Investissement. The €10m raised will help accelerate the group’s development and build-up strategy.
Phenix will use these funds to finance its development, and more particularly a new display network of city center digital screens, to pursue acquisitions and finance its technological investments.
The banking group Crédit Mutuel-CIC, by way of its affiliate CM-CIC Investissement is a major Capital Investment player in France with €2,3bn invested on the group’s own account. Its SCR status allows CM-CIC Investissement to commit to Phenix’s capital as a long-term shareholder with potential add on capacity of €5m to €100m.
The group, whose main shareholder remains Sébastien Romelot (President and CEO), completed this transaction though a reserved capital increase. CM-CIC Investissement is the first financial shareholder of Phenix, alongside the group’s historic financial partners Saint Mihiel SAS and Audacia.
Clearwater International Managing Partner, Thomas Gaucher advised the shareholders of Phenix Group on this transaction.
Sebastien Romelot, President, Phenix Groupe added: “We are happy to announce the success of this fundraising- the most significant since the creation of the group in 2013. This fundraising, fuelled by strategic considerations, will allow us to pursue outdoor media growth opportunities with high potential on the market. We are pleased to welcome to the Phenix Groupe an institutional investor of such high quality.”
Stéphane Vermot-Desroches, Director, CM-CIC Investissement commented: “We were impressed by the work achieved by Phenix Groupe and particularly its high-quality management team since 2012. We are very proud to become a reference shareholder of the Phenix Groupe, and plan to accompany them in their ambitious growth strategy, and more particularly in their digital displays roll out.”
Thomas Gaucher, Managing Partner, Clearwater International commented: “We have been closely accompanying Sebastien Romelot’s tremendous work since he took over the company, by advising him on some strategic options/acquisitions, and preparing this fundraising process through the setting up of bridge financings necessary for recent build-ups.”