Clearwater has advised the shareholders of Phenix Groupe, a French leader in outdoor media communication, on a fundraising from CM-CIC Investissement. The €10m raised will help accelerate the group’s development and build-up strategy.
Phenix will use these funds to finance its development, and more particularly a new display network of city center digital screens, to pursue acquisitions and finance its technological investments.
The banking group Crédit Mutuel-CIC, by way of its affiliate CM-CIC Investissement is a major Capital Investment player in France with €2,3bn invested on the group’s own account. Its SCR status allows CM-CIC Investissement to commit to Phenix’s capital as a long-term shareholder with potential add on capacity of €5m to €100m.
The group, whose main shareholder remains Sébastien Romelot (President and CEO), completed this transaction though a reserved capital increase. CM-CIC Investissement is the first financial shareholder of Phenix, alongside the group’s historic financial partners Saint Mihiel SAS and Audacia.
