CMS Bureau Francis Lefebvre acted as legal and tax advisor to the Caravelle group on the acquisition of the Tiama group.
This acquisition, in the form of a tertiary LBO for the Tiama group, came at the end of a bidding process initiated by the partners and creditors of the Tiama group: EQT Partners, European Capital, Kartesia and Omnes Capital. It occurred in the context of a brighter business climate for the glass industry and innovations by the Tiama group expanding its product range for customers.
The Tiama group manufactures equipment to inspect hollow glass packaging (bottles, jars, etc.). It is the world leader in the hollow-glass quality-inspection segment. Present in 80 countries and achieving turnover of €100 million, the Tiama group employees more than 200 employees.
For this transaction, the Caravelle group was advised:
- for legal and tax due diligence by CMS Bureau Francis Lefebvre, with a team comprising Philippe Tournès (partner), Jean-Charles Benois (associate counsel), Maÿlis Motte, Alexia Cayrel, Vincent Forestier and Olinka Kowalski for tax aspects, Christophe Lefaillet (partner) and Martine Audran (associate counsel) for corporate aspects, Anne-Laure Villedieu (partner) and Julie Tamba for IP/IT issues, and Caroline Froger-Michon (partner) and Aurélie Parchet in relation to social law;
- for financial due diligence by Price WaterhouseCoopers, with Arnaud Thibésart (partner), Chenxi Zhao, and Louis Terrier;
- for tax structuring by CMS Bureau Francis Lefebvre, with Jean-Charles Benois (associate counsel) and Dechert LLP, with Sabina Comis (partner) and Antoine Le Touzé;
- for other legal aspects by Dechert LLP, with François Hellot (partner), Laurent Kocimski, Xavier Leroux and Benjamin Lacourt.
The Tiama group was particularly advised by the firm Delaby & Dorison Avocats, with Emmanuel Delaby (partner) and Romain Hantz.