Salans Paris advised Chéreau Holding S.A.S., a company controlled by the members of the Executive Board of Jean Chereau S.A.S., on the financing of the latter company’s takeover. Jean Chereau S.A.S. is France’s leading manufacturer of refrigerated transport solutions.
The acquisition was financed by equity contributed by two investment funds and by a loan raised from the banks Banque Scalbert Dupont-CIN, Caisse Régionale de Crédit Agricole Mutuel de Normandie and Banque Commerciale pour le Marché de l'Entreprise (BCME).
The Executive Board is composed of Alain Guermeur (President), Patrick Guiffant (Director of Operations), Pierre-Yves Le Bot (Director of Administration and Finance), and Philippe Legendre (Marketing and Sales Director).
Chéreau was a member of the German group Trailer Holding since 2003, which also held Kögel. Following the spectacular collapse of the industrial vehicle market in Europe, Kögel, and its holding companies, Trailer Holding and Trailer International, went into bankruptcy in Germany.
The financing of the acquisition was accompanied by the grant of credit facilities for any future cash flow needs that the group might have and by the financing needed for future investments in the company’s Avranches and Ducey production sites. Chéreau’s works council voted in favour of the transaction, which also obtained the support of the local, regional, and national authorities.
Salans lawyers Pascal Chadenet, Patricia Leguy and Caroline Bortolaso advised Chereau Holding on the equity and debit financing of the transaction.
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