European Capital invests €30m in Arcapita-backed CEPL

American Capital’s publicly traded European affiliate has invested in the warehouse and logistics firm just a month after the Bahrain-based bank purchased it from Sagard.

European Capital’s Paris office has led a €30 million ($43 million) mezzanine investment in Compagnie Européenne de Prestations Logistiques (CEPL).

The publicly traded firm said its investment “supports the acquisition of the company by Arcapita Bank”, which last month purchased CEPL from Sagard Private Equity in a deal valued at between €550 million and €600 million. The CEPL auction included 21 first-round bids from groups including Doughty Hanson and Goldman Sachs.

Mezzanine lender ICG has also invested an undisclosed sum in CEPL.

Manuel Barbieux, an Arcapita principal said commitments from European Capital and ICG will support the company’s plans to double in size “over the holding period”.

CEPL Weilbach:
Arcapita-backed space

 

For Arcapita, the CEPL deal augmented its roughly 5 million square meters of industrial warehouse holdings. In May, the firm purchased from Merrill Lynch a Central and Eastern European logistics warehouse company, Pinnacle Real Estate.

Headquartered in Béville le Comte, France, CEPL employs 2,000 people across 23 sites in France and Germany. It specialises in automated preparation of multi-reference orders, doing outsourced logistics for companies in sectors including perfume, cosmetics, sportswear, shoes, apparel and high-tech goods.

The company was first acquired in February 2005 for an undisclosed sum by Sagard, the France-based private equity firm associated with Canada’s Desmarais family.