Clearwater International France advises Bridgepoint, the Management and the practitioners on the disposal of the C2S Group to Eurazeo Patrimoine

Clearwater International France advised the shareholders of C2S on the disposal of the Group to Eurazeo Patrimoine, the Eurazeo division specialised in investments in tangible assets.

The C2S Group is the 8th largest private clinic operator in France and a regional leader in Auvergne, Rhône-Alpes and Burgundy Franche-Comté. It operates 11 clinics, primarily specialising in short and medium-length stays in general medicine, surgery and follow-up care. It also owns the buildings for seven of its clinics. The group has 500 medical practitioners, who participate in the group’s governance and nearly 1,800 employees. In 2016, it treated over 235,000 patients (75% as outpatients) and reported revenues of €158 million.

With the support of its majority shareholder, the Group successively acquired a private clinic in Ambérieu (HPA) in 2015 and Groupe Avenir Santé in 2016, before selling the Polyclinique de Bordeaux-Tondu in 2017. These successive operations enabled C2S to strengthen its presence in the Rhône-Alpes and Burgundy regions.

Following a competitive process gathering French and international industrial and PE players, Eurazeo Patrimoine’s offer was retained by the sellers, supported by a bank pool identified by Clearwater’s Debt Advisory team.

The Clearwater International France team, composed of Philippe Guézenec, Managing Partner, Benjamin Zayat, Managing Partner, Aubert Simonnot, Associate Director, Guillaume Fenni, Analyst, and Laurence de Rosamel, Director (Debt Advisory), advised C2S shareholders in this transaction.

“ We are delighted with the progress made with Bridgepoint in recent years, working closely together and leveraging their expertise to support our external growth strategy. Bridgepoint’s support has also given us the opportunity to develop ambitious medical projects, implement exemplary medical governance and build teams that we are particularly proud of. The exceptional work done in all our establishments has substantially improved the group’s performance and made C2S a true regional leader.”

Jean Rigondet, CEO, Groupe C2S

“ The transformation and development of the C2S Group has been remarkable and was made possible by the excellent work of the Management team. We are pleased to have supported the team in its successive structuring acquisitions, which have helped to accelerate the growth of the group.”

Olivier Nemsguern, Partner in charge of Bridgepoint Development Capital in France

“ We are very proud to have accompanied the C2S Group during its disposals and build-ups over the past years. This operation with Eurazeo Patrimoine is another exciting step for the Group and its management team. We have no doubt that C2S will become a major player in the French MSO industry.”

Philippe Guezenec and Benjamin Zayat, Managing Partners, Clearwater International