AXA Private Equity today announces it has become a significant shareholder in Newrest, a specialized out of home catering company.

As part of this transaction, the minority financial shareholders, who had previously supported Newrest, are able to realize an exit while retaining a minority stake in the company. AXA Private Equity will hold 22.5% of the equity. At the same time, the employees of Newrest will increase their shareholding from 61.3% to 67.6%.

The investment in Newrest typifies AXA Private Equity’s strategy in current market conditions; supporting growing companies through equity and limiting recourse to external leverage.

Newrest is a worldwide specialized caterer within the food industry supplying various markets including Airlines, Retail, Catering and Support Services. In 2009, the company managed a turnover of 408 M€ in 32 countries.

AXA Private Equity will support the management team of Newrest in the implementation of its development strategy.

Lise Fauconnier, Managing Director, AXA Private Equity, said: “We are pleased to invest in Newrest alongside its management team. This investment demonstrates our core strategy of supporting companies in their ambitious growth plans over the long term.”

Olivier Sadran and Jonathan Stent-Torriani Newrest’s group co-CEOs added:

“We are delighted with AXA Private Equity becoming a shareholder of Newrest. With them we will continue our controlled growth while at the same time increasing management’s stake in the Company. Newrest wished to maintain these two principles.”

About AXA Private Equity

AXA Private Equity, an AXA Investment Managers company, is a leading private equity firm with US$25 billion in managed assets and a global reach extending across Europe, North America and Asia. The firm offers investors the full spectrum of private equity services for every market segment: direct funds, infrastructure financing, mid cap and small cap buyouts, venture capital, co-investments, fund of funds as well as mezzanine financing.

With offices in Paris, Frankfurt, London, New York, Singapore, Milan, Zurich and Vienna, AXA Private Equity supports the development and long‐term growth of its portfolio companies with sustainable growth strategies and by granting them access to the AXA international network. AXA Private Equity has earned the trust of its investors by regularly supplying them with transparent performance data on its funds and portfolio companies.

AXA Private Equity, Global Investments the European way
www.axaprivateequity.com
 

About Newrest

Founded by Olivier Sadran in 1995 around Catair, Newrest was acquired by its management from Compass in 2005. At that time Newrest had sales of 200m€ mainly in catering for airlines in Spain and in France.

Newrest is now present in 32 countries, has extended its range of food services through a multi‐sector catering model and manages a turnover of 408m€.

With its 12,200 employees, deeply attached to its entrepreneurial spirit, Newrest continues to develop with long term thinking and commitment to its traditional values of pragmatism, passion for quality, mutual respect, and openness to diversity.

Deal/ advisors teams:

Buyer: AXA Private Equity: Lise Fauconnier, Yann Bak, Daniel Setton
Legal/Tax Advisor: SJ Berwin: Maxence Bloch, Marie‐Christine Combes / Landwell: Alain Chedal
Strategic Advisor: Roland Berger: Oliver de Panafieu, Didier Bréchémier, Henri‐Pierre Vacher
Financial Advisor: PWC: Hervé Mader, Katia Carow
Other financial investors/sellers: Natixis Investissement, Naxicap/Banque Populaire Développement,
Multicroissance, BNP Paribas Développement, Capzanine, Sycovent
Legal Advisors: Uria Menendez: Manuel Echenique / MorvilliersSentenac: Bruno de Laportalière

Press Contacts AXA Private Equity

Maria Shum / Daniel Kahn
The HeadLand Consultancy
+44 20 7367 5222
mshum@headlandconsultancy.co.uk / dkahn@headlandconsultancy.co.uk