Squire Patton Boggs Advises French Rental Platform LocService on its Primary LBO

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Squire Patton Boggs has advised the founder of Gobocom, operator of the LocService.fr reverse rental platform, on a reorganization and capital restructuring.

Founded in 2005 by Richard Horbette, LocService.fr offers an online service for renting property from one individual to another.

The transaction takes the form of a BIMBO, with leverage and incentive mechanisms for the new managing director Charles Becquet, who joined the company ahead of the deal, and key employees. Richard Horbette, who is reinvesting, will also be joined by real estate executive Cédric Lefeuvre (Lefeuvre Immobilier) and two other business leaders, whose names have not yet been disclosed.

The Squire Patton Boggs team advising Richard Horbette and fellow partners was led by Paris Corporate partner Arnaud Lafarge assisted by Victor Dransard, with Charles Briand and Terry Khayat on advising on tax aspects.

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