Aldebaran Capital Partners has acquired PAM Building from Compagnie de Saint-Gobain with acquisition financing provided by Crédit Agricole Lorraine, Crédit Agricole Champagne Bourgogne and Crédit Mutuel Arkéa
PAM Building
PAM Building is a European leader in sustainable cast iron solutions for building drainage systems, including sanitary and rainwater applications. With a workforce of around 400 employees across production facilities in Bayard, France and Telford, UK, the company generated €110 million of revenue in 2023. It holds a dominant presence in France, the UK and Germany, while also expanding its reach to more than 50 countries, globally, solidifying its position as a key player in the industry.
The Deal
Aldebaran Capital Partners has completed the second acquisition of its Aldebaran Transformation Fund I with the purchase of PAM Building, following its carve-out from Compagnie de Saint-Gobain. By enhancing the group’s innovation capabilities and international presence, Aldebaran’s project is to position PAM Building as a major player in sustainable cast iron. An ambitious decarbonization plan will be implemented with the transition to an electric furnace at the Bayard facility. Lincoln International served as the exclusive debt advisor to Aldebaran, supporting the fund in arranging the debt financing required to complete the transaction. The financing package was designed to back the carve-out transaction and to provide additional debt facilities for capital expenditure needs. Lincoln conducted a rigorous and competitive financing process, ultimately selecting Crédit Agricole (Lorraine and Champagne-Bourgogne) and Crédit Mutuel Arkéa as the most suitable financing partners.
Our Perspective
Serge Palleau, Lincoln International Managing Director who led the transaction, commented, “We are very pleased and honored to have supported Aldebaran on this outstanding transaction. This deal exemplifies the ability of Aldebaran’s team to complete transactions on complex carve-outs from large corporate groups. We are confident that the financing package will enable PAM Building to implement its decarbonation plan.”
We are pleased to have had Lincoln as our advisor on this transaction. Their expertise in identifying new debt providers in the context of a carve out was very appreciated.
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