Investment strategy

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Cobepa’s investment strategy is centred around two main types of investments: growth capital investments, taking significant minority stakes, and buy-out transactions, acquiring control or co-control of the company alongside the management and other investors

Cobepa mainly seeks to pursue investment opportunities in Europe and North America. Via our participations, we also have significant economic interests in Asia and South America.

Growth capital

Cobepa takes significant minority stakes in companies with a medium to long term investment horizon:

  • Sizeable stakes between Euro 50 and 150 million each
  • Preference for established, unlisted companies
  • Company not unduly leveraged and able to distribute dividends

Growth capital investments represent the vast majority of our investment portfolio. The “evergreen” character of Cobepa (as opposed to closed-end funds) allows us to make investment commitments on the longer term, which enables stability of ownership and sustainable value creation. This differentiating feature, combined with our longstanding experience and partnership culture, underpins our strength in growth capital investments.

Buy-outs

Cobepa is also active in the traditional buy-out segment:

  • Equity investment of Euro 20 to 50 million per transaction
  • Various types of transactions can be considered: traditional MBOs in which Cobepa acquires a majority stake alongside management; owner-managed buyouts in which Cobepa acquires a sizeable minority stake alongside founders and/or management; joint-control buy-outs; leveraged recapitalisations, in which Cobepa acquires a minority stake from an existing private equity owner seeking to realise part of its investment, etc.

Cobepa has developed ample expertise in structuring and managing buy-out investments. Furthermore, our ability to stay on board longer than traditional private equity funds also applies here, in particular when the companies can be assimilated to growth capital investments once acquisition debt has largely been reduced.

Cobepa S.A.

Cobepa S.A.
Rue de la Chancellerie 2, box 1
1000 Brussels
Belgium
Tel: 
+ 32 2 213 32 10
Fax: 
+ 32 2 513 17 02

Cobepa North America Inc.

Cobepa North America Inc.
Tower 49
12 East 49th Street
New York, NY 10017
United States
Tel: 
+1 (646) 679 5177