In a full exit, MCB Equity Fund, MCB Capital Markets’ $100 million captive private equity fund, has sold Speedy, an automotive fast-fit services company with almost 480 repair centers across France to Bridgestone EMEA, the regional subsidiary of tyre manufacturing giant Bridgestone. Terms of the deal were not disclosed.
MCB Equity Fund originally invested in Speedy in 2011 in a debt/equity LBO deal since when the firm has expanded its network of repair centers, built a fleet business and expanded its customer base to sell 1.2 million tyres in 2015, representing a 4.5% share of the French market.
MCB Equity Fund was launched in 2005 and targets expansion and buy-out investment opportunities in established small and medium-sized businesses. While the primary geographic region of focus ins Sub-Saharan Africa, the Mauritius-based investment bank will invest opportunistically elsewhere. The fund looks for investments in firms which provide products and services to consumers and typically takes minority positions with board representation in its deals. According to the firm’s website, the fund has made over 45 transactions since its inception.
Sylvinah Vydelingum, Rony Lam and Joël Lambert of MCB Capital Markets worked on the deal, with additional services provided by Raphaël Financial Advisory.