Jeantet advises the managers of Cogelec on the entry of RAISE Investissement into the capital of the controlling shareholder of Cogelec
Paris, 23 July 2021 – Jeantet advised the managers of Cogelec, the French leader in access control systems for collective housing, in connection with the change in the capital of S.R.C, the controlling shareholder of Cogelec, including the arrival of RAISE Investissement as a minority financial partner.
The managers of Cogelec set up the company Cogelec Développement so that the latter could acquire, by way of sale and contribution, all of the share capital of S.R.C. (held by the managers of Cogelec before the transaction). At the same time, RAISE Investissement made an equity and quasi-equity investment of 18.8 million euros in Cogelec Développement.
The shareholders of Cogelec Développement entered into a shareholders’ agreement, under which the shareholders declared that they were acting in concert vis-à-vis Cogelec Développement, S.R.C. and Cogelec, it being specified that the pre-existing “sub-concert” formed by the managers of Cogelec remains predominant within the enlarged concert.
In this respect, the effective completion of the transaction was inter alia subject to the decision of the French financial markets authority (Autorité des marchés financiers) that there were no grounds for filing a mandatory public offer for the Cogelec shares as a result of the enlargement of the pre-existing concert.
RAISE Investissement’s entry into the Cogelec Group’s capital is part of a partnership dynamic with the Cogelec Group’s managers to actively support its long-term development prospects in France and internationally.
Jeantet (legal advisor of the managers of Cogelec): Cyril Deniaud, partner, and Guillaume Soulé, associate (Corporate / Capital Markets), Nicolas Goetz, counsel, and Nicolas Fribault, associate (Corporate / M&A).
D&A acted as financial advisor of the managers of Cogelec in the context of the transaction.
Agilys acted as legal advisor of RAISE Investissement.