Cédric Hajage

On January 16, Willkie client Weinberg Capital Partners announced the sale of its majority stake in REALEASE Capital to Qualium Investissement. REALEASE Capital is the leading independent pure-player of the equipment leasing market in France. It offers tailor-made financing solutions through a complete and agnostic leasing offer (financial lease, operational lease, etc.) backed by a wide range of financing methods (contract assignments, credit structuring, self-leasing, etc.), and complemented by high value-added services (insurance, evolving contracts, etc.). With an excellent reputation and more than 30 years’ experience, REALEASE Capital has well-established relationships with its pool of funders and its 800 selected suppliers serving more than 7,200 end clients. It currently finances €500 million worth of equipment through approximately 11,000 contracts. The completion of the transaction is subject to approval by the competition authorities. Since Weinberg Capital Partners’ investment in the company in late 2018, REALEASE Capital has doubled both its EBITDA and turnover, which is approximately €170 million. In addition, REALEASE Capital undertook a successful management transition and digitalized the full range of its service offerings and internal processes. Its workforce has grown by close to 40%, notably with key recruitments in the executive management and sales teams. Willkie previously represented Weinberg Capital Partners in its acquisition of REALEASE Capital. The Willkie team in Paris was led by partner Cédric Hajage and included counsel Georges Balit and associates Camille Barrabino and Eden Attias.

Jan 17

1 min

Willkie advised Famille C on its acquisition of leading clean makeup company ILIA. On February 1, Famille C, the Courtin-Clarins family holding company and owner of the Clarins brand, announced that it has agreed to acquire ILIA Beauty, a pioneer in skincare-powered makeup. ILIA is a leader in the clean beauty segment, developing and marketing makeup products that protect and revive the skin. This acquisition is expected to further Famille C’s effort to promote innovation in beauty and well-being products. The Willkie team was led by partners Claire James, Jenny Liu, Rose Ohanesian and Cédric Hajage and included associate Matthew Naifeh and law clerk Ryan Chambers.

Feb 2

1 min

Willkie advised PAI Partners on the transaction valuing Perstorp at €2.3 billion. On May 17, Willkie client PAI Partners announced its agreement to sell Perstorp Holding AB, a leading specialty chemicals group, to Petronas Chemicals Group Berhad for an enterprise value of €2.3 billion. Perstorp is a leading chemical company that develops sustainable solutions for the resins and coatings, technical fluids and animal nutrition end-markets. Over the course of its investment, PAI helped Perstorp to grow organically and through market consolidation, and enabled its focus on sustainable and innovative specialty chemistry. Willkie previously advised PAI Partners on numerous transactions, including its acquisition in 2005 of Sydsvenska Kemi, the holding company of Perstorp; Perstorp’s 2012 joint venture with PTT Global to manufacture products for the polyurethane industry; and the transfer in 2018 of PAI’s interest in Perstorp from PAI Europe IV to a new fund managed by PAI Partners and backed by Landmark Partners and other co-investors. Founded in Sweden 141 years ago, Perstorp has a presence in 26 countries, including production plants in Europe, Asia and North America, and employs approximately 1,500 people worldwide. PAI Partners is a preeminent private equity firm that currently manages more than €22.4 billion of dedicated buyout funds. Petronas Chemicals Group is the leading integrated chemicals producer in Malaysia and one of the largest in Southeast Asia. The Willkie team was led by partner Cédric Hajage and included partners Grégoire Finance, Hugo Nocerino and Faustine Viala; counsel David Kupka; and associates Tala Ayoub and Axel Rogeon.

May 24

1 min

Willkie advised Waterland Private Equity and its portfolio company Boncolac, a leading French manufacturer of frozen pastries and snacks, in the acquisition of Proper Cornish, a maker of Cornish pasties. The acquisition, announced March 6, continues the international expansion of Boncolac group, furthering its plan to become a pan-European leader in premium frozen pastries and snacking. Willkie previously advised Waterland in its acquisition of Boncolac and Mag'M in July 2022. Waterland is a pan-European private equity investment group headquartered in the Netherlands, with offices in 11 countries. The Willkie team was led by partner Cédric Hajage and included partner Paul Lombard, special European counsel Philippe Grudé, counsel Georges Balit and associate Axel Rogeon.

Mar 9

1 min

Willkie is advising Cooper Consumer Health in its offer to Viatris Inc., a global healthcare company, for Viatris’ Over-the-Counter (OTC) business. The transaction was announced on October 2, and is subject to workers’ councils information and consultation and to the approval of relevant regulatory authorities. The acquisition will firmly establish Cooper Consumer Health as a leading healthcare platform in Europe, across a wide range of therapeutic areas. The Viatris OTC Portfolio consists of a leading portfolio of c. 200 brands mostly across Europe, with a strong medical heritage, brand equity and endorsements from both consumers and healthcare professionals. The Viatris OTC Portfolio will almost double the size of Cooper Consumer Health, with combined sales reaching over €1.1 billion. The transaction also includes two high-quality manufacturing sites (Mérignac, France, and Confienza, Italy) and one R&D center (Monza, Italy). Cooper Consumer Health is a leading European consumer healthcare player focused on the development, production and distribution of a diverse range of branded OTC products across numerous market segments including: calming and sleeping; vitamins and minerals; sun and skincare; and footcare. Willkie previously advised CVC Funds on their acquisition of a majority stake in Cooper Consumer Health. The cross-border Willkie team is led by partners Cédric Hajage, Grégoire Finance, Sebastian FitzGerald and Dvir Oren.

Oct 2

1 min