Stags SAS, Groupe IDI (ENXTPA:IDIP) and Cabestan Capital of Edmond de Rothschild Investment Partners, S.A.S., along with Emmanuel Capriglione and the managers of Pennel & Flipo SPRL, acquired Pennel & Flipo SPRL on September 15, 2015. Cabestan Capital acquired 70% stake in the transaction. Tikehau Direct Lending III Fund of Tikehau IM arranged and financed the tailored unitranche facility for this acquisition. Pennel & Flipo SPRL had revenues of €30 million in 2014. Emmanuel Capriglione, Industrial Director of Pennel & Flipo SPRL, will take the management of Pennel & Flipo SPRL accompanied by three existing members of the Management Committee: David Ray (Marketing), Bernard Delcourt (Finance) and Gérard Maerten (R&D). Olivier Vermeulen, Marc Zérah, Tereza Courmont-Vlkova, Thomas Maitrejean, Benjamin Garçon, Raphaël Béra, Gwenaël Kropfinger, David Levy, Olivier Armand and Janine De Keersmaecker of King & Wood Mallesons acted as legal advisors for Tikehau IM. Ariane Berthoud, Stéphanie Bigo, Arnaud Levasseur, Arnaud Deparday, Stéphane Huten and Bruno Knadjian of Hogan Lovells acted as legal advisors for Groupe IDI.

Stags SAS, Groupe IDI (ENXTPA:IDIP) and Cabestan Capital of Edmond de Rothschild Investment Partners, S.A.S., along with Emmanuel Capriglione and the managers of Pennel & Flipo SPRL, completed the acquisition of Pennel & Flipo SPRL on September 15, 2015.