Bryan, Garnier & Co leads €8 million mezzanine financing for Orolia

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Paris, 4th February 2008 – Bryan, Garnier & Co (“Bryan Garnier”), the leading independent pan-European investment bank focused on European growth companies, today announced the closing of an €8 million bonds with warrants issue for Orolia (Euronext: ALORO). Bryan Garnier was Sole Advisor to Orolia on this transaction.

Orolia is the European leader and the world’s third largest supplier of high-precision Time & Frequency systems for mission critical applications. Orolia’s equipments are essential to modern information systems in the Space & Navigation, Defense & Security and Telecom & Broadcasting fields.

The bond with warrants issue is fully subscribed by Euromezzanine, one of Europe’s leading providers of mezzanine financing. The warrants attached to the bonds will enable Euromezzanine to subscribe 269 500 new Orolia shares at €12.50 per share. Proceeds will be dedicated to the financing of Orolia’s external growth strategy through targeted acquisitions.

Greg Revenu, Managing Director and Head of Corporate Finance at Bryan Garnier said, “Despite the market turmoil over the past months and the tightening of credit conditions, we have succeeded lately in a creating strong appetite for such hybrid capital financings. Bryan Garnier strengthens its position in advisory and placement of equity-linked instruments with a second transaction announced in the last three months. This issue demonstrates our ability to advise companies at each stage of their development. Bryan, Garnier & Co. is committed to supporting Orolia in its build-up strategy to create a leading player in the Time & Frequency market”.

Jean-Yves Courtois, CEO of Orolia stated, “After the €12 million IPO in July 2007, which proceeds enabled us to acquire the US based company Spectracom, we aim to pursue our acquisition strategy using our leverage capacity, in order to maximize our shareholders’s ROI. With Euromezzanine, we find a partner capable of supporting our development in the long term, with financing solutions suited to our growth profile. Bryan Garnier’s expertise coupled with entrepreneurial boutique-level attention and high level of commitment has been critical in the success of this capital raising.”

For more information, please contact :

Bryan, Garnier & Co. 

Olivier Beaudouin / + 33 1 56 68 75 35 /

Henri-Pierre Jeancard / + 33 1 56 68 75 97 /

Penrose Financial

Mani Pillai / Kerstin Voelkel / + 44 207 786 4888

Notes to Editors

Over the past 10 years, Bryan, Garnier & Co has become one of the leading placement agents of venture and development capital for European Technology companies.
Bryan, Garnier & Co is increasingly active on the European stock markets as a lead underwriter of emerging growth stocks offerings, including the following recent transactions:

  • Sole Manager of the international tranche of a €28 million convertible bond for Arkimedica (ARK)
  • Sole Manager of a €53 million capital increase for RISC (RSC)
  • Sole Placement Agent of a €12 million Alternext IPO for Orolia (ALORO)
  • Sole Manager of a 40 million capital increase for Bioalliance (BIO)
  • Lead Manager and Bookrunner of a €100 million capital increase for Transgene (TSG)
  • Sole Manager of a €12 million secondary placement for Netbooster (ALNBT)
  • Sole Manager of a €45 million secondary placement for Parrot (PARRO)
  • Sole Lead Manager and Bookrunner of a €66 million capital increase for Sword Group (SWP)

The most recent M&A transactions include:

  • MBO of Orsyp, Advisor to the Seller
  • Acquisiton of Infolog Solutions by Generix, Advisor to the Seller
  • Acquisiton of Ornis by Risc, Advisor to the Seller
  • Acquisition of AS Infor by Cegid, Advisor to the Seller
  • Acquisition of Influe by Generix, Advisor to the Seller
  • Owner Buy Out of Divalto, Advisor to the Seller
  • Sale of Plaut Consulting Group to CGI inc (NYSE : GIB), Advisor to Plaut Consulting Group

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