Asesoramiento financiero
Eris
Case Study
Acquisition of Eris by Chequers Capital
Mirabaud Advisors acted as advisors of Chequers Capital on the acquisition of ERIS, in the context of a highly competitive auction process.
Deal Overview
Date: May 2021
Sector: Business Services
Type of transaction: Buy side M&A
Deal Team: Stéphane Benouaich / Paul Krotoff
About ERIS
- Created in 1974, ERIS became in only 20 years, a leading player on fire safety for the public building market (ERP) in the Paris area. Owned by the funding families, ERIS has also developed a complementary expertise in buildings safety and access control. With more than 250 employees recognised for their technical expertise, ERIS covers fire safety and safety system for more than 7000 buildings.
- Created in 1972, Chequers Capital is a leading French private equity house with more than €2.5bn of asset under management.
Transaction overview
- Mirabaud Advisors was mandated by Chequers Capital to provide M&A advice for the acquisition of ERIS, in the context of a highly competitive auction process.
- In May 2021, Chequers Capital was selected by the sellers as the preferred bidder and signed an exclusivity agreement to take a controlling stake, alongside the management team who will reinvest significantly in the company.
While competing in a very intense formal auction process, we managed to guide Chequers Capital in building trust and mutual respect with the founding family, and especially the CEO. Chequers Capital has been considered by the founders as the ideal partner to continue the outstanding entrepreneurial story of ERIS.
Mirabaud contribution and added value
- Thanks to its relationship with the funding families and the CEO, Mirabaud Advisors helped Chequers Capital to better understand the problematics regarding the deal, allowing the client to stand out from other suitors in a highly competitive auction process (> 10 bidders)
- This transaction illustrates the ability of Mirabaud Advisors to efficiently advise tier-1 Private Equity funds in the context of auction processes
- Mirabaud Advisors has also shown its deep understanding of primary LBO situations, as well as its expertise in dealing with family-owned companies
Case study