This transaction, which mobilizes a total of EUR115 million in equity, marks a new milestone in the partnership initiated in 2019 with the investment of WCP’s leveraged buyout (LBO) WCP#3 fund in Sapian.
The continuation fund, dedicated to Sapian, will support the company’s ambitious growth strategy, particularly through future external growth operations. New investors, including Montana Capital Partners as lead investor, as well as several family offices, are joining the capital alongside existing investors. Weinberg Capital Partners also contributed to financing this transaction, which represents the sixth investment of WCP’s LBO Fund #4.
Jules Lecoeur, partner at A&O Shearman, said: “Continuation funds have become an essential tool for private equity firms and a key driver of secondary transactions. This transaction demonstrates our ability to drive single asset GP-led transactions tailored to the needs of financial investors and management teams.”
Founded in 2019 following the carve-out of the “Hygiene and Prevention” division of the ISS Group, Sapian now employs over 1,500 people across 41 branches in France and anticipates revenue exceeding EUR155m in 2025.
A&O Shearman advised Weinberg Capital Partners on all transactional aspects with a team including partner Jules Lecoeur, associates Alexia Monne, Yasmine Benhmida, Fatima Ahamada and Aresse Chegra on M&A aspects; partner Thomas Roy, senior associate Jonas Brucker, associates Baudouin Harou and Maxime Silly on financing aspects; partner Charles del Valle, senior associate Ageu Pires and associate Ryan Ceglia on tax aspects; as well as partner Olivier Picquerey and associate Marie Chauvat on employment law aspects.