The 1.2 million-application-per-year reverse rental specialist is reorganizing its capital structure to coincide with the arrival of its new CEO, Charles Becquet. The operation is made possible by the financial support of several real estate executives.
LocService.fr is a reverse rental platform. Relying on a deep database of registered private owners, the platform enables people looking for accommodation to find the best long-term rental based on their search criteria and income.
Created in the minitel era by its founder Richard Horbette, LocService had been preparing its transfer for several months to its Managing Director, Charles Becquet, who joined the company ahead of the deal, which also enabled the company’s key employees to become involved.
The transaction takes the form of a BIMBO, with leverage and incentive mechanisms for the new managing director and key employees.
Cédric Lefeuvre (Lefeuvre Immobilier) and two other business leaders, whose names have not yet been disclosed, are joining forces with Richard Horbette, who is reinvesting on this occasion, and Charles Becquet. This association of entrepreneurs in the sector will ensure the implementation of LocService’s development project, built around the strengthening of its core business and the development of new business lines. None of the investors will have a majority stake in LocService.
The process organized by PAX Corporate Finance attracted the interest of financial players as well as real estate and insurance companies. Given the specific features of the project and the company, it was the project proposed by a group of private investors that won over the founder and the new director.
