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
Stéphane Vermot-Desroches, Director, CM-CIC Investissement
Thomas Gaucher, Managing Partner, Clearwater International