MBO of Luxat by LCL Régions Développement and Avenir Entreprises

MBO of Luxat by LCL Régions Développement and Avenir Entreprises
Thursday, July 19, 2007

Luxat has been acquired in an MBO equally by LCL Régions Développement and Avenir Entreprises. Jean-Luc Ferlicchi, Chairman of Luxat, and the company's top-level managers also participated in the transaction.

This change in the shareholding structure occurred on the occasion of the withdrawal of long-standing shareholders and financial partners that had invested in the company as part of an LBO in 1998.

Based in Hasparren in the Pyrénées-Atlantiques region of France, Luxat is a manufacturer specialising in the design, production and distribution of comfort shoes for the elderly. The company sells over 370,000 pairs of shoes a year, making it one of the leading comfort shoes manufacturers in France. Its customer network in France comprises multi-brand retailers and major retail chains, with the support of an effective production subsidiary in Tunisia.

Under the aegis of Chairman Jean-Luc Ferlicchi, who joined the company in January 2005, Luxat has gained new impetus and reported sales of over €12 million in 2006. Thanks to the rationalisation of production and the financial strength accumulated over the last three years, Luxat is now in a position to enter a period of growth through acquisitions, targeting companies offering a strategic fit in terms of commercial activities and significant production synergies.

 

LCL Régions Développement, investment company managed by Crédit Agricole Private Equity
Jean-Michel Staron, Partner
Fabrice Crabié, Associate
+33 1 43 23 21 21

Avenir Entreprises
Quentin Jacomet, Investment manager
Marc Prévot, Senior associate
+33 1 53 83 74 30

Investors’ advisors
Legal: Reinhart Marville Torre (Philippe Torre)
Financial: PWC (Alexandra Audouart)
Strategic: Neostrategy (Giovanni di Francesco)

Debt arranger
LCL (Patrice Nadalon)

Buyer’s advisor
DDA (Didier Choix, Nicolas Duchange)

Press contact
Martine Sessin-Caracci - martine.sessincaracci@ca-cif.fr - +33 1 43 23 90 88

About LCL Régions Développement and Crédit Agricole Private Equity
This transaction has been performed by the LBO/expansion capital small caps team of Crédit Agricole Private Equity, which manages LCL Régions Développement, an investment company supporting LCL's corporate clients.

LCL Régions Développement acquires minority stakes of €1 to 3 million in companies generating sales of €5 to 50 million.

Crédit Agricole Private Equity is an AMF-accredited asset management subsidiary of Crédit Agricole S.A., specializing in private equity investment in non-listed companies.
A multi-specialist player in the private equity market, it has a team of 40 investors operating in several areas (LBO/Expansion, Venture Capital, Secondary Market, Mezzanine, Renewable Energies, PPP Infrastructure, liquidity solutions, etc.), manages €1.5 billion through venture and innovation funds. Crédit Agricole Private Equity provides advice and support for business managers implementing growth plans.

omnescapital.com

About Avenir Entreprises
Avenir Entreprises is a fund management company accredited by the AMF. It manages three funds with total assets under management of €137 million on behalf of its shareholders, Caisse des Dépôts et Consignations and OSEO.

Since 1984, the Avenir Entreprises team - which currently comprises 12 investment professionals in Paris, Nantes and Lyons - has helped over 500 French SMEs in all business sectors with their expansion plans.

In 2007, Avenir Entreprises was involved in the buyout of Lewinger (sales of €20 million), a company specialising in the design and retail of ready-to-wear clothing for older women.