LONDON--(BUSINESS WIRE)--All Seas Capital Fund I (“All Seas Capital”), a pan-European private capital fund that provides flexible long-term financing solutions to leading mid cap companies, announces a growth investment in SoMeD Santé (“SoMeD” or the “Company”), a private medical centre group in France.
SoMeD provides a multidisciplinary service, including GP, radiography and dental services, from its nine sites across France. Expert clinicians benefit from best in class medical equipment and centralised administrative infrastructure.
The investment from All Seas Capital will enable SoMeD’s ambitious management team, led by Yehoram Houri and Benedicte Gautreau, to accelerate its expansion strategy. The Company plans to quadruple the number of medical centres it operates in France over the next four years, capitalising on the increasing and more complex needs of the population across the territory and the shift of care out of hospitals due to the pandemic towards proximity healthcare facilities. France faces an under-invested state healthcare infrastructure creating a real need for private medical provision and a centuries-old tradition for liberal individual medical practice which does not fit anymore with the needs and aspirations of the new generation of MD’s and their patients. SoMeD medical centres are situated in high footfall locations, ensuring they are easy-to-access for patients and enhancing their utilisation.
With its extensive investment experience, All Seas Capital is already working closely with Yehoram, Benedicte and their team to support further institutionalisation of the business at Board and operational management levels, as well as identifying potential M&A opportunities to supplement the businesses organic growth plan.
All Seas Capital was recently launched by Marc Ciancimino and Cristobal Cuart who co-founded and led KKR's European mezzanine and preferred equity business. All Seas Capital provides transformational capital solutions and board level expertise to entrepreneurs who need strategic capital, but do not want to sell a majority stake. SoMeD is All Seas Capital’s third transaction, following investments in Hakim Opticians Group, a rapidly growing portfolio of independent opticians across the UK, and Attivo Group, a fully independent UK-based Chartered Financial Planning business.
Emmanuel Logan-Moll, Managing Director of All Seas Capital, said:
“We are thrilled to be making our third investment, partnering with SoMeD and its ambitious management team. They have established a quality group of medical practices across France, built on strong underlying demand driven by an ageing demographic and need for ever more complex medical treatment. The team have been smart in where they have located their medical centres, and with All Seas Capital’s investment, they can accelerate their expansion plan of SoMeD over the coming years.”
Yehoram Houri, CEO of SoMeD, commented:
“In All Seas Capital, we have not only secured a financial investor to enable us to accelerate our expansion plans, but also a highly experienced and hands-on partner to help us structure and grow our business. It was highly appealing to take on an investor that adds so much value and from day one we have been impressed by the out of the box mindset and collaborative approach of the All Seas team.”
Marc Ciancimino, Co-Founder and Managing Partner of All Seas Capital, commented:
“We are finding that our hybrid investment strategy is highly appealing to entrepreneur and family-owned mid-market businesses across Western Europe; businesses that already have a certain amount of scale but are in need of support and capital as the catalyst for real business growth, but do not want to sell a majority stake. We are the ideal partner for SoMeD, so are thrilled that they are our third investment from All Seas Capital’s maiden fund.”
All Seas Capital was advised by Sabbag Advisor, Alvarez&Marsal, PwC, Lamartine Conseil and Loyens & Loeff, and SoMeD was advised by Cambon Partners, Exelmans, Argos Avocats and Moncey.
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About All Seas Capital
All Seas Capital is a pan-European private capital fund that provides flexible long-term financing solutions to leading mid cap companies. The team is led by Marc Ciancimino and Cristobal Cuart who co-founded and led KKR's European mezzanine and preferred equity business, and have an extensive career track record with €3.4bn invested across 45 businesses.
We partner with and provide transformational capital solutions and board level expertise to Western European entrepreneur- and family-owned mid-market businesses who need strategic capital, but do not want to sell majority stakes. We identify businesses that already have a certain amount of scale but are in need of support and capital as the catalyst for real business growth.
All Seas Capital’s hybrid strategy, investing a combination of debt and equity, integrates ESG considerations throughout its investment process to help position its portfolio for long term, sustained growth.
Marc Ciancimino, Co-Founder
Prior to starting All Seas, Marc was a partner (“Member”) of KKR & Co where he spent a decade and started the European dimension of the firm’s private credit activities with a special emphasis on hybrid transactions. He sat on the Global Private Credit Committee and was a Portfolio Management Committee member. He started his career in 1995 at Citibank and also worked at Bankers Trust before moving to the buyside in 1999. He has invested over $1.9Bn since he started his career.
Cristobal Cuart, Co-Founder
Prior to All Seas, Cristobal was a Director at KKR which he joined in 2010 where he was a senior member of the European private credit and preferred equity platform, working closely with Marc Ciancimino to launch and grow the firm's European private credit and preferred equity activities. He has invested over $2.2 billion into privately held businesses throughout his career.
About SoMeD
SoMeD Santé is a private French health centre and management facilities group, providing dental, medical and radiology care. Originally based in Paris, SoMeD centres are to be found in locations across France (shopping malls, railways stations and city centres), including Nantes, Marseille, Claye-Souilly, Strasbourg, Lille, Amiens and Rouen, as well as Orléans, Pau and Bayonne by the end of the year.