Clearwater International France advises Bridgepoint on the acquisition of a majority stake in Group CIR
Clearwater International France has advised Bridgepoint Development Capital (BDC) on the acquisition of a majority stake in Group CIR and Urban Premium so as to accelerate their development. The founders and the managers have significantly reinvested in the transaction all while continuing to ensure the company’s management.
Specialised in the renovation of old buildings for over 30 years, the group CIR is currently the French leader in the restoration and reconversion of city centre historical buildings. Active on a national level, the group acquires, renovates and commercialises over 40,000 sqm each year with the highest quality standard. Its operations in old buildings rehabilitation are mainly conducted under the Malraux and the land deficit laws.
Based in Bordeaux, the group CIR forecasts a €180m annual revenue in 2017 and depends upon a team of more than 80 people.
The founders have also successfully developed a real estate management fund activity: Urban Premium, an asset manager is in charge of 12 residential and commercial SCPIs, oriented towards city centre real estate investment, which represents a capitalisation close to €300m.