Carmine Capital leverages its industry expertise and national reach by bringing together Atlantic Joint and Origin Seal, which was acquired by Abenex two years ago. 

Industrial synergies and geographical complementarity

Founded in 1993, Atlantic Joint especialises in the custom cutting of joints, profiles, sleeves and specific bands for a wide range of markets. The company has also developed a joint trading activity, further strengthening its market-leading position in the sector.
Atlantic Joint generates over €3 million in sales. Headquartered in Nantes, Atlantic Joint has a significant footprint in the Western part of France (“Grand Ouest”), enabling Origin to expand its activities in this strategic area, its historical base being in the Lyon region. Thierry Buissonneaud and Antoine Lefebvre, who have managed Atlantic Joint for over 15 years, will ensure an operational transition to facilitate the successful integration of Atlantic Joint within the Origin Seal group. 

A second acquisition in 2 years for Origin Seal

This acquisition represents the second acquisition for Origin since Abenex became a shareholder of the company in September 2022. Atlantic Joint’s acquisition reinforces Origin Seal’s position in the national industrial seals’ market enhancing its offering with additional expertise in custom cutting, previously outsourced. Origin Seal employs almost 200 people and recorded revenues of almost €40 million last year, of which almost a third were generated outside France. As part of this strategic expansion, the newly formed entity is forecasting sales of nearly €45 million for the current year. 

Gilles Nauche, CEO of Origin Seal, comments, “We are delighted to welcome Atlantic Joint to the Origin Seal group. This acquisition reinforces our market position and enable us to provide our customers with an even more comprehensive range of products. This new partnership facilitates further growth and development opportunities, particularly in the Grand Ouest region.”

Edouard Jeandey, Director within the Abenex Mid-cap team, adds “This acquisition demonstrates our continuous support for Origin Seal’s growth and the consolidation of its market position, which remains highly fragmented. Atlantic Join’s acquisition aligns perfectly with the Group’s dynamic external growth strategy. We are also considering other acquisition opportunities in France and Europe, demonstrating our strong desire to expand our footprint within the European market.”

A deal carried out with professionalism and serenity

The directors of Atlantic Joint look back on their experience of the sale: “Contacts with the Carmine Capital team were always constructive and well-informed. They successfully advised us and/or guided us in our choices. This way to manage such an event in the life of the company enabled us to take care of our day-to-day business more serenely,” emphasizes Antoine Lefebvre. 

Thierry Buissonneaud adds: “I particularly appreciated the continuous and transparent communication throughout the process, which kept us informed and confident. The seriousness of the takeover proposal convinced us from the outset. Being backed by a fund, Origin Seal has the necessary resources to ensure the company’s long-term future and development. The takeover of Atlantic Joint in its entirety is a guarantee of stability for all our employees.”

“We are delighted to have contributed to the merger between Atlantic Joint and Origin Seal. It is always a source of pride to advise management on their financial transactions. At Carmine Capital, we aspire to preserve the identity of the companies we advise, while ensuring their growth long after the transaction,” shares Xavier Langlois, Director at Carmine Capital.

For more information, please contact: Xavier Langlois, Tanguy Payoux, Clément Richard and Anne-Laure Saint-Marc Girardin.

Actual group is pursuing its strategic development by extending its presence in the French Overseas Departments and Regions (DROM) with the acquisition of Alter Ego, a major player in employment on Reunion Island. This strategic operation is part of a dynamic external growth policy. 

Actual group continues to grow

Less than a year after the successful acquisitions of Ergalis, Clémentine and Kobaltt, Actual group continues its external growth strategy. The integration of Alter Ego strengthens Actual group’s already significant presence in the French West Indies and French Guiana, and extends its activities to Reunion Island.

A response tailored to the needs of companies on Reunion Island

Aware of the specific employment challenges facing the French overseas territories, Actual group is resolutely tackling the employment challenge on Reunion Island. By combining the resources and expertise of Alter Ego with its own network of Accompagnement Envergure already established on the island, Actual group is strengthening its offer to local companies and groups from mainland France operating on Réunion. This integration is in line with Actual group’s vision of offering broader solutions for employment and skills development in the region.

Founded in December 2009 by Virginie Boireau, Alter Ego has 50 employees and 6 branches in Saint-Denis, Le Port, Saint-Pierre and Saint-Paul. Alter Ego enjoys a solid reputation in the sector, with a turnover of €30 million.

Supporting people and companies

Today, as the 5th largest player in the French labor and employment market, Actual group is an independent, family-owned group with a resolutely humanist vision, working every day to facilitate the right to work for all.

Headed by Samuel Tual, a committed entrepreneur, the group is no. 1 in temporary employment in France. With 4,010 employees and more than 600 agencies across the country, Actual group currently supports 33,000 companies and 165,000 job applicants, with sales expected to reach 1.6 billion by 2023. 

Samuel Tual, Chairman of Actual group, underlines the importance of this operation for the group: “At Actual group, our aim is to support people in their long-term employability, in order to better serve the human resources needs of companies. The integration of Alter Ego is perfectly aligned with this vision, thanks to their approach focused on customer proximity and the quality of their support for temporary workers.”

A shared vision of the future of the recruitment and human resources business 

Virginie Boireau, founder and managing director of Alter Ego, expresses her satisfaction at this new step: “We are delighted to be joining Actual group, as we share the same vision and ambition to develop skills and support individuals in their professional careers. This union will enable our customers and candidates to benefit from enriching synergies. It’s a great opportunity for our region.”

With almost 15 years’ experience, Alter Ego is now recognized as a major player in La Réunion and the Indian Ocean. This alliance with Actual Group further strengthens its position in the market, offering a wide range of services from temporary work to placement on fixed-term and open-ended contracts, as well as professional integration and training. This alliance represents an opportunity for Groupe Alter Ego to benefit from the resources and support of a major group, while preserving its autonomy and identity on Reunion Island to continue promoting its values and supporting the local economy.

“We are proud to support Actual group in its growth ambitions, and we thank Samuel Tual for renewing his trust in us. The acquisition of Alter Ego testifies to their commitment to maintaining territorial proximity and offering an adapted response to local companies as well as to groups from metropolitan France operating in Réunion” adds Philippe Bloquet, Manager at Carmine Capital.

By supporting Actual Group in this latest acquisition, Carmine Capital has confirmed its M&A expertise in the recruitment agency industry.

For more information on this acquisition, please contact: Philippe Bloquet et Anne-Laure Saint-Marc Girardin.

The LAGRANGE group, one of the leaders in the top-of-the-range tourist residences industry, is pleased to announce the acquisition of a majority stake in the CERISE Hôtels et Résidences group, which operates 14 establishments throughout France. This acquisition is the fruit of a vision shared by the management of both groups, and is part of a common desire to strengthen their market position. It will enable both groups to accelerate their growth and development. 

The activities of CERISE Hôtels et Résidences, which is specialized in Apart’Hôtels residences, complete those of LAGRANGE, which has a strong presence in seaside and mountain resorts, with over 120 sites in operation. Pierre-Olivier Toumieux comments: “In addition to the traditional business activity, the Apart’Hôtels are increasingly meeting the demand for short tourist stays, and offer the advantage of very constant activity throughout the year, which allow to free oneself from the usual seasonality of tourist sites. In this market segment, Groupe CERISE’s sites are the perfect complement to our current range.”

The synergies identified between the two groups will enable the CERISE Hotels and Residences group to further increase its profitability in the very short term, and to accelerate the development of new projects already identified by this group. 

Pierre-Olivier Toumieux commented: “Discussions with the CERISE group have intensified since last September as part of our strategy to consolidate the sector. Despite the challenges posed by the Covid-19 pandemic, the CERISE Hotels and Residences group, chaired by Yannick Auré, has shown remarkable resilience and has managed to get through this difficult period.”

Yannick Auré is keen to point out that “this gradual transfer is taking place in a harmonious manner and is enabling the synergies sought by the CERISE Group to be put in place; this merger is accelerating development and facilitating the implementation of new projects thanks to the support and backing of the LAGRANGE Group’s teams”.

Pierre-Olivier Toumieux adds: “This operation, initiated before COVID, is part of our ongoing consolidation strategy, with the aim of achieving a balance between the “sea”, “mountains” and “city” clusters. I would like to underline the excellence of the Carmine team, whose responsiveness and efficiency were faultless throughout this process.” 

Since 2022, the Apart’Hôtels residences business has regained its “pre-sanitary crisis” dynamism, and remains a strategic element for the LAGRANGE Group. 

Both the LAGRANGE and CERISE groups are active and recognized members of the Fédération Nationale des Résidences de Tourisme et Villages de Vacances.

For more information on this acquisition, please contact: Cécile Jonnard, Paul Tagliero and Anne-Laure Saint-Marc Girardin.