Lenders are expected to offer leverage of 4.5x to 5x to support the acquisition of French media group Heroïks, sources told Reorg. A number of international and French private equity players are bidding for the asset.
Rothschild is selling Heroïks off EBITDA of €20 million, sources said. A lender education process took place earlier in summer and lenders are vying to provide a debt package that will allow Heroïks to make new acquisitions and increase its international presence, sources added.
LBO France acquired
a majority stake in Heroïks, which was formerly known as My Media, in 2018. Following LBO France’s investment, Heroïks has completed a series of acquisitions including the buyout of German media agency Peak Ace AG
My Media combined with French marketing company Business and creative agency Aubert Storch in 2019 to create Heroïks, according to a press release
from LBO France. The newly formed group said at the time that it expected to generate revenue of €50 million in 2019.
Heroïks is a communications group specializing in marketing performance. It offers media consultancy services to clients including Trivago, Groupon and Just Eat.
Rothschild and LBO France did not respond to Reorg’s request for comment.
-- Lucía Camblor, Lara Gibson