parquest capital

fr
courtepaille

the company

  • The oldest grill restaurant chain, founded in France in 1961.
  • At the time of the investment in 2005, Courtepaille was managing 160 restaurants in France and achieved a business volume of €180M.
  • Faithful to traditional standards of a French restaurant, Courtepaille offers ever since its inception a warm and convivial welcoming and surroundings as well as authentic flavours to customers looking for a quick, simple and low-priced meal.

THE PROJECT

Enhancing the network

In an MBO operation in which the management team was associated, the historical shareholder Accor sold its chain of grill restaurants, Courtepaille, a company originally founded in 1961. The operation permitted the brand to pursue a sustained development, characterised by interior renovations throughout the entire network of restaurants and the opening of over 40 additional establishments between 2000 and 2004. By the end of 2004, Courtepaille was managing 160 restaurants, generating sales of €180M.

In the beginning of 2005, the chain experienced a change “within continuity” with an MBO led by Parquest Capital, marked by an increased management share ownership and a project to accelerate the pace of restaurants openings all the while strenghtening marketing investments in order to increase traffic.

Key to the management's decision to retain Parquest Capital was our position as an equity investor without time constraint, able to support the management team in its long term strategy.

Our partnership has enabled a transformation of Courtepaille group within continuity with the opening of more than 50 restaurants including a first international presence (in Poland), an overhaul of the information systems and logistics organisation, the implementation of a strong marketing strategy and the externalization of part of the real estate assets.

In 2011, the management team wished to pursue the group development independantly and initiated a new growth phase with a new LBO along with Fondations Capital.

MAIN ACHIEVEMENTS

Investment date April 2005
Divestment date March 2011
Sector Restaurant chain
Deal type MBO
Headquarters Evry (91)
Turnover (€M) 220
Headcount 2 400
CEO Philippe Labbé