UGGC & Associés legal counsel to CM-CIC Capital Privé and Sigma Gestion for the second pool of Topsec

Topsec is receiving EUR 0.6m, in equal proportion, from Sigma Gestion and CM-CIC Capital Privé. A year ago, the latter had been party to the first EUR 1m pool together with Etoile ID. Financiers now hold 54%, together with the founder (29%) and two business angels (17%). Founded in 2000 by Thierry Alimondo, Topsec is a company operating vending machines selling swimming gear, now found in some 40% of French public swimming pools. Its income reached EUR 3.6m in 2008. CM-CIC Capital Privé, a subsidiary of CIC Finance, is the management company of the FCPIs (Fonds Communs de Placement dans l'Innovation: unit trusts investing in innovation) and FPIs (Fonds d'Investissements de Proximité: proximity investment funds) of the Crédit Mutuel Group - CIC (CM-CIC). It is essentially investing in unlisted small to medium size companies(PMEs). As an independent management company approved by the AMF (Autorité des Marchés Financiers: financial market authority), it manages assets worth EUR 350m in 2009. Sigma Gestion is a subsidiary of the Gérard Auffray Group, specialist of savings and real estate paper raising for over 20 years, and of the Sigma Group, created in 1993 by Philippe Cholet, specialist of investments in unlisted companies. Founded in 2004, it provides its expertise to investors and institutions through investment holdings, FIPs, FIPs ISF and FCPIs. This new fund raising pool will allow Topsec to bring its market share in the sector of French public swimming pools to 60-70 %, as well as break new grounds: “Recently, we have been targeting privately run public swimming pools (hotels, camping sites, leisure parks, etc.) and neighbouring countries.Discussions are under way with equipment manufacturers to initiate partnerships”, declares Thierry Alimondo who is expecting their income to increase by about 50% in 2009. Pascal Squercioni, partner, was advising CM-CIC Capital Privé and Sigma Gestion for this transaction on all corporate law issues.