Hivest Capital has signed an agreement to carve-out Safran’s Cargo and Catering activities

Paris, May 3rd, 2023 – Hivest Capital Partners, an independent French private equity firm, has signed an agreement to acquire from Safran certain assets which design, produce and sell unit load devices (ULD) and trolleys for the aviation industry. These two activities employ c. 1200 people across Asia, Europe and the USA and generated €130m in sales in 2022.
The two activities will be the foundation of Cabin & Cargo Equipment Group (“CCE Group”), a new company focusing on niche activities with leadership positions in the aerospace market.
“This project illustrates our expertise in corporate carve-outs as it is actually composed of two simultaneous transactions. Their closing will account for our 6th and 7th carve-out operations since the inception of Hivest Capital Partners. The specific complexity further reflects our strong know-how in the management of corporate spin-offs” said Cédric Lépée, Managing Partner of Hivest Capital.
“Leveraging our experience in complex cross-border carve-outs, we quickly identified regulatory and operational issues raised by the separation and have designed solutions to soundly execute the transaction” said Barthélemy Grave, Director at Hivest Capital.
The transaction is expected to be completed by the end of Q2 2023.
About Hivest Capital
With more than €500m under management, Hivest Capital is an independent French private equity firm approved by the Autorité des Marchés Financiers. Hivest Capital invests in SMEs or mid-cap companies with a turnover between €50m and €500m, in the context of buyout, capital expansion projects, or corporate carve-outs. Hivest Capital’s objective is to help companies reach their full potential by implementing ambitious growth strategies and operational performance improvements.

LIST OF PARTIES INVOLVED
Buy Side

• Investor – Hivest Capital Partners: Cédric Lépée, Axel Bonnassies, Barthélemy Grave, Antoine Nguyen, Théophile Mulsant
• Debt raising – Rothschild: Grégory Fradelizi, Alexandre Duhem, Nicolas Levy, Augustin Viellard
• Legal counsels:
• Hogan Lovells (Corporate): Stéphane Huten, Ali Chegra, Alexandre Jeannerot, Marion Blade, Manon Rochefort, Marieke Plaisier, Bastiaan van Rath, Danielle du Bois-Bune, William W. Yavinsky, Kathleen A. Blanchard
• Everlaw & Tax: Jean-François Copé
• Tilleke & Gibbins (Corporate): Monthaya Kerdsakul, Charunun Sathitsuksomboon
• Hogan Lovells (Tax & Structuring): Ludovic Geneston, Maryll Pizzetta
• Alvarez & Marsal (Tax): Kristina Dautrich Reynolds
• Financing: Erwan Hericotte
• Financial DD – Advolis Orfis: Damien Bourg, Xavier Nicolas, Marion Bernadou
• Commercial DD – Archery: Guillaume Hue, Emmanuel Miremont, Rémy Bonnery, Camille Monvoisin, Marianne Azam, Candy Yu-Doublet
• Insurance – Marsh: Margaux Rocher, Nils Janssens, Louis Budry
• ESG DD – Indefi: Charlotte Salmon
  

CONTACT
Hivest Capital Partners
Barthélemy GRAVE, 140 boulevard Malesherbes – 75017 Paris, barthelemy@hivestcapital.com