ETHYPHARM

Date of Investment : April 2007

Sales at Entry :EUR 128m

Transaction type : OMBO - Owner Management Buyout

Project : Organic growth and geographical expansion (US in particular) / Opportunistic build-ups (Biotech DDS in particular)

Created in 1977, Ethypharm is one of the world leaders in the development and manufacturing of oral “Drug Delivery Systems” (DDS) for the pharmaceutical industry, which supplies both major pharmaceutical groups and generics players with high-end drugs that feature particular absorption technologies. Drug Delivery Systems provide major benefits including improving the drug efficacy, enhancing patient compliance and comfort, extending the life cycle of existing drugs, and reducing the total cost of treatment. Ethypharm is today a global company which employs 810 people in several production and/or R&D facilities based in France, Canada, China and India. The company’s portfolio currently comprises of approximately 50 products sold to more than 140 customers worldwide.

OGF

Date of Investment : October 2007

Sales at Entry :EUR 510m

Transaction type : Secondary LMBO

Project : Consolidation of market Share and improvement of profitability

OGF is the French leader of funeral services: founded 160 years ago, the company operates the largest national funeral services network with 943 sales outlets, 380 funeral homes and 45 crematoriums. With about 5500 employees, OGF provides its full scope of funeral services (burial and cremation services, coffins, monuments…) through 3 key brands: PFG, Roblot and Henri de Borniol. OGF is also the leading coffin manufacturer in France, and provides pre-need funeral contracts through its network and partnerships.

SCT

Date of Investment : October 2007

Sales at Entry :EUR 50m

Transaction type : OMBO - Owner Management Buyout

Project : Organic and external growth to widen geographical coverage and services offered

SCT TELECOM is one the French leading switchless providers of telecom services for small and medium sized enterprises. Over the years, the company adapted to the convergence of communication technologies and now offers a full range of telecom cost reduction to its customers: fixed and mobile communications, unbundling, PABX, etc. Managed since its creation, in 1997, by its founder, SCT TÉLÉCOM currently employs 160 people throughout 25 commercial branches.