MBO of Luxat by LCL Régions Développement and Avenir Entreprises
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
Quentin Jacomet, Investment manager
Marc Prévot, Senior associate
+33 1 53 83 74 30
Legal: Reinhart Marville Torre (Philippe Torre)
Financial: PWC (Alexandra Audouart)
Strategic: Neostrategy (Giovanni di Francesco)
LCL (Patrice Nadalon)
DDA (Didier Choix, Nicolas Duchange)
Martine Sessin-Caracci - firstname.lastname@example.org - +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.
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.