IDÉHA, A MAJOR REAL ESTATE PLAYER IN FRANCHE-COMTÉ, IS DIVERSIFYING ITS ACTIVITIES BY ACQUIRING TWO EMBLEMATIC ESTABLISHMENTS IN THE LUXEUIL-LES-BAINS SPA DESTINATION
CARMINE CAPITAL SUPPORTS IDÉHA WITH A GLOBAL ENGINEERING MISSION AND ENTRUSTS THE OPERATION OF THE COMPLETE PROJECT TO THE SIGA GARDEN & CITY GROUP, WHICH HAS SOLID EXPERIENCE IN THERMAL DESTINATIONS.
Idéha is diversifying its activities by acquiring the Les Thermes and Le Métropole residences, emblematic establishments of the spa resort of Luxeuil-les-Bains since the beginning of the 20th century. This project, supported by the city and the Pays de Luxeuil community of communes, will revitalize the hotel market in Luxeuil-les-Bains with the complete renovation of the residences and the creation of a spa and wellness center. The total investment is approximately €4.5 million.
Idéha, is a mixed-economy real estate company founded in 1954 that manages a portfolio of more than 3,000 social and private housing units. Idéha, whose head office is located in Montbéliard (25), has been a major player in the Haut-Doubs, Haute-Saône and the northern Franche-Comté region for several decades.
In addition to its work with individuals, Idéha regularly collaborates with town halls and local authorities to build social housing . Thanks to its expertise and experience, the company has a wide selection of real estate in various locations across its various areas of operation. In 2023, it achieved a turnover of €17.7 million , and invested nearly €20 million in development, new construction, acquisition-improvement and rehabilitation between 2021 and 2023.
Idéha is a company that places people at the heart of its concerns and its primary ambition remains customer satisfaction.
The Métropole and the Résidence Les Thermes are two establishments located in Luxeuil-les-Bains (70), the first having 43 studios of 20 to 30 m2 and the second 21 studios of 20 to 25 m2.
The management of these two acquisitions is entrusted to the SIGA Garden & City group, founded in 1963 and a key player in Marseille’s real estate market. Now chaired by Nicolas Rastit, the founder’s grandson, the group has successfully evolved by also establishing itself in the national market. Thanks to family expertise passed down through three generations, the Preyre-Rastit Group has diversified its activities into the hotel and tourist residence sector. In response to growing customer needs, the group expanded its offering with the creation of the Garden & City brand in 2013.
The key to success?
The acquisition operation orchestrated by Carmine Capital in the hotel sector was distinguished by several strategic elements:
– An established relationship of trust: the capital of trust placed by Idéha’s partners in Carmine Capital, particularly in Emmanuel Longin, whose previous expertise in hotel acquisitions was a decisive asset in carrying out the operation.
– The integrated approach to the transaction: the Carmine Capital team deployed a 360° strategy covering all dimensions of the operation: Structuring and execution of the acquisition negotiation, development of a viable and documented business plan, design of the optimal legal structure, arrangement of financing adapted to the transaction, negotiation and securing of an operating contract, rigorous management of the transaction schedule.
This deal illustrates Carmine Capital’s ability to create value through a complex transaction requiring the alignment of interests between three major stakeholders (buyer, seller and operator) within a constrained 18-month timeframe, thus demonstrating its complete mastery of the value chain in M&A transactions in the hotel sector.
Verbatim
“The support of Emmanuel LONGIN of Carmine Capital was invaluable to Idéha in the guidance and successful completion of this particularly complex and new project, given the nature of this activity. His interpersonal skills and his ability to mobilize stakeholders, regardless of the interlocutors involved, were real assets in enabling us to complete the essential steps, one after the other, in a rather lengthy process. His availability and the quality of his interventions were greatly appreciated by the company’s employees invested alongside him in this project. Idéha’s management team would like to warmly thank Emmanuel LONGIN for having fully contributed to this success!”
Yves Daouze, Managing Director of Idéha.
To find out more about this operation, contact :Emmanuel Longin
STAKEHOLDERS
IDEHA : Yves Daouze, Maryline Hauk, Claude Liebundguth.
Conseil M&A : Carmine Capital, Emmanuel Longin.
Garden City : Bertrand Rastit, Alban Gavoty, Paul-Octave Baré.
La Banque des Territoires : Yannick Beldan, Agnès Brochet.