Clearwater International advises Calicéo on its €100m debt raise to acquire four new balneotherapy centres

Clearwater International has advised Calicéo Group (Calicéo), a French leader in local balneotherapy on its €100m debt raise to acquire four new centres.

Calicéo founded in 1996 and located in Lyon, Toulouse, Nantes, Bordeaux, Pau and Perpignan, operates aquatic balneotherapy sites focused on relaxation and well-being. Over the next two years, the group will open four new centres in Ile-de-France: Saint-Cyr-L’Ecole in the Yvelines, Lieusaint Sénart in Seine-et-Marne, Cormeilles-en-Parisis in Val-d’Oise, and near Lille: Marc-en-Barœul. These future centres follow specific socio-demographic and architectural criteria and will be located near large urban areas. They will introduce a health theme with saunas using essential oils or ice mists, which will help with blood circulation, breathing and muscle recovery. The walls of the future centres will be owned by the group via SCIs.

Heavily impacted by the global health crisis, Calicéo is rebuilding its financial strength in both equity and debt with the help of its historical partners.

Ekkio Capital is the majority shareholder of the group since 2018 following the MBI, to reinvest accompanied by the management team made up of CEO Marc Leonard and CFO Emmanuel Guzman. This €20m round of financing is completed by new entrants including GF Investissements and BNP Développement.

The historical banks of the Group LCL and Crédit Agricole Aquitaine are joined by new lenders Crédit Agricole Centre-Est, Crédit Agricole 31, Crédit Agricole Sud Méditerranée, Crédit Agricole Pyrénées Gascogne, Crédit Agricole du Nord, Caisse d’Epargne Midi-Pyrénées and Bpifrance are also structuring €80m in senior debt along with a capex line to finance these new projects.

  • Image of Caliceo Group Company Logo
    refinancing of existing debt to finance new centres
    View Back of Transaction
    Clearwater Advisers

    Adviser to Calicéo on its refinancing and growth financing

    View more