Chequers Capital and management signed an agreement to acquire an unknown minority stake in Serma Group Société anonyme (ENXTPA:ALSER) from Ardian on May 2, 2018. The acquisition will be financed by Crédit Agricole Nord Midi Pyrénées, Crédit Agricole Aquitaine, CIC, CACIB, CIC Sud-Ouest, CM-CIC Private Debt, BNPP, BNP Paribas European SME Debt Fund, Amundi and Neuflize OBC. The deal is subject to approval from antitrust authorities. The transaction is expected to be completed in June 2018. Grégoire Andrieux and Diana Hund of McDermott Will & Emery LLP acted as legal advisors to Ardian. Florence Savouré, Laura Smyrliadis and Delphine Dillemann of Apollo and Frédérique Lumeau of SCP Chepeau Lumeau & Associés acted as legal advisors to Serma Group. Stéphane Huten, Arnaud Deparday, Eric Paroche, Céline Verney and Flora Oriot of Hogan Lovells acted as legal advisors, Nicolas Kandel and Romain Girard of CMI acted as strategic due diligence advisors and Christian Berling and Dimitri Cromback of Eight Advisory acted as financial advisors to Chequers Capital. Arnaud Fromion, Adrien Paturaud and Marie Domas Margari of Goodwin Procter acted as legal advisors to the financing banks. Chequers Capital and management completed the acquisition of an unknown minority stake in Serma Group Société anonyme (ENXTPA:ALSER) from Ardian in June, 2018.