Omnes Capital exits

Sector

Industry

Entry Date

2008

Exit Date

2014

Buyer

Management and funds

Business

Small-Cap Buyout & Growth Capital

Finaero / Groupe STTS

www.finaero.com

European leader in aerospace paint and sealing products

Headquartered in Toulouse, the Finaero group initially expanded in aircraft paint and seals with its STTS subsidiary. It does two-thirds of this business with aircraft manufacturers Airbus, ATR, Dassault and sub-assembly manufacturers and one-third with airlines, such as Air France.
In recent years, Finaero has diversified its activities. It refurbishes and fits out VIP aircraft interiors via its AIP subsidiary. Over the past three years, the group has expanded into wiring and manufacturing electrical harnesses via its CIEE subsidiary.

Sector

Web

Entry Date

2010

Exit Date

2014

Buyer

GroupM

Business

Venture Capital

Plista

www.plista.com

Innovative and easy-to-use advertising formats for website operators

Plista offers website operators and content providers with innovative and easy-to-use advertising formats and online sign-up platforms. With 30 employees in Germany alone, Plista operates an advertising audience network consisting of over 400 online content providers and 50 publishing houses in Germany, Austria, Switzerland, France and Slovenia. Plista, which has been active since 2009, offers image-, text and video-based advertising formats, as well as multiple targeting solutions.

Emalec

www.emalec.com

Maintenance specialist

Based in Saint-Genis-les-Ollières (Rhône department), Emalec is active in maintenance, electrical contracting and breakdown services, air conditioning systems and multi-technical services at branch networks in France (specialist retailing, bank networks and service stations). The company has developed considerable technical and logistical expertise, making it one of the few companies specialised in multi-site maintenance.

Groupe Melkonian

www.melkonian.fr

Specialist equipment for mining and mineral transportation

Headquartered in Aix-en-Provence (Bouches-du-Rhône department), the Melkonian Group is a family-owned company that designs, manufactures and distributes equipment and spare parts for extracting and transporting minerals in the hard rock underground mining market.

A family affair

After working with the Melkonian group for five years, Omnes Capital sold its investment in the leading mining equipment company with a heavy heart (February 2014).

Look back at a cordial and productive partnership

After Omnes first invested in the Melkonian group in 2008, commodity prices suddenly collapsed, plunging two-thirds in one quarter owing to a burgeoning financial crisis and a freeze on mining investment projects. But Omnes Capital did not lose confidence in the business.
In 2009, Melkonian managed to deliver profitable growth despite the crisis, by winning new customers.

Our key duty was to help the founders to build up their self-confidence and to make strategic decisions and take risks”, says Benjamin Arm, Managing Director at Omnes. This included the roll-out of an intermediate level of operational management and a strategy committee, a switchover from outright trading to the design, manufacture and marketing of equipment, and the creation of subsidiaries – in countries including Niger and Burkina Faso – to get closer to its customers while retaining its wholly French identity. Melkonian rose masterfully to a number of different challenges and we were delighted to have stood alongside it.

Melkonian

Genevieve

Co-Chairman

of the Melkonian group

Why did you choose Omnes Capital five years ago?

In 2008, we decided to approach investors so as to consolidate on the expansion in our family business with the support of financial experts, retain our management team over the long term and open up the Group’s capital for its employees. It was crucial for us to share our values with our new partner. From our very first meeting with Omnes Capital, we immediately felt similarities, confidence, and mutual respect, and so our cooperation began with a shared enthusiasm.

And looking back, how do you assess your fi ve years of working together?

It was an emotional moment when my brothers and I signed off on Omnes Capital’s exit. We worked closely together, with openness and trust, and our strategy committee meetings with Benjamin Arm and Daniel Balland, who has now retired, will live long in our memories. We invited Daniel to attend our next strategy committee meetings as special advisor, alongside our new investors: what better proof could there be of how pleased we were with our relationship with Omnes Capital! I also hope to stay in touch with Benjamin and, who knows, perhaps see him purchase another stake in a future funding round…

So why did the partnership come to an end?

Omnes Capital wanted to sell its shareholding. Five years is the normal length of an investment cycle. In parallel, we – the family – wanted to increase our shareholding. These two factors prompted us to bring the partnership to an end, but it was a really fantastic deal and so our new investors will have a lot to live up to!

Timeline

• 1955: Jacques and Angèle Melkonian open a garage in Gardanne.

• 1975: After inventing an axle for equipment used in mining facilities, Jacques gives his garage to its 12 employees and sets up Continental Industrie, a supplier to all the mines in France.

• 1994: The founder’s three children acquire the business and decide to focus on building underground mining equipment for international markets.

• 2008: Omnes Capital invests in the Melkonian group, present in 70 countries.

• 2014: Omnes Capital sells its shareholding to Bpifrance, Amundi PEF and Sofipaca.

Focus Project INTERVIEW Company

melkonian-group

Sector

Retail & Distribution

Entry Date

2011

Exit Date

2013

Business

Co-Investment

Luxury clothing group

Headquartered in Milano, this luxury group creates and distributes high-luxury accessories and clothing.

Sector

Medical devices

Entry Date

2007

Exit Date

2013

Buyer

Sale through a merger with Heartware Inc.

Business

Venture Capital

CircuLite

www.circulite.net

      Unique miniature circulatory assistance device for the treatment of chronic heart failure  

CircuLite is a company developing a unique circulatory assistance device for the treatment of chronic heart failure. Synergy™, the company’s pocket circulatory assistance device features a micro-pump that is placed superficially and minimally invasively connected to the left atrium and the subclavian artery. Once in place, the device transforms the treatment of chronic heart failure patients, irrespective of whether they are hospitalised or treated as outpatients. The company received CE marking on 5 September 2012 for its Synergy™ device.
Heartware Inc. (Nasdaq: HTW) acquired Circulite in December 2013 for an initial sum of $30 million, potentially rising to $320 million if it hits its milestones.

Sector

Hardware

Entry Date

2005

Exit Date

2013

Buyer

Samsung

Business

Venture Capital

Novaled

www.novaled.com

Doping materials for organic materials

German company Novaled has developed a new structure and new doping materials curbing power consumption and extending the life of organic light-emitting diodes (OLED). At the time of the sale, the company owned more than 400 patents.

Read the business case

“Omnes Capital placed its trust in us and was patient.”

GILDAS

SORIN

Chief Executive Officer

of Novaled AG

> Read more

Novaled AG

Good things come to those who wait…

Time has proved Omnes Capital right, as it saw Novaled AG’s potential very early on.

In 2005, Omnes acquired an interest in its capital as lead investor for €4 million as part of a €15 million funding round, before injecting another €1.5 million in 2008. This bet paid off handsomely. Since 2009, materials developed by Novaled AG have been used in displays for the Samsung Galaxy, one of the world’s top-selling smartphones.

The German start-up, which was acquired by the Samsung group during the summer 2013, has pioneered OLED technology, which will revolutionise the world of displays and lighting.

SORIN GILDAS

Chief Executive Officer of Novaled AG

Grow up with Samsung

OLED diodes illuminate surfaces using thin layers of organic composite semiconductors. Unlike LCDs, they do not need backlighting, which also reduces their power consumption.

The integration of flexible materials such as plastics has opened the way for the development of thin and flexible displays and lighting solutions. Provided that the plastics used could be made better conductors.

And that is exactly what the innovation and technology developed by Novaled do.
They enhance the organic material, extending its life and reducing its power consumption.

GILDAS

SORIN

Chief Executive Officer

of Novaled AG

Novaled AG has demonstrated that technology ventures can be a success in Europe...

Definitely. If you have the right products and if you adopt a good quality strategy, you have every chance of success! Novaled AG is a prime example of this. A giant like Samsung chose us as a supplier because we had products that matched its needs. Despite tough negotiations, it immediately showed its confidence in Novaled. Samsung agreed that we should be its only supplier of certain materials used in Galaxy smartphones. This represents a tremendous vote of confidence given its production imperatives.

Why did you choose Omnes Capital as a partner?

Right from the start, we felt that we were on the same page as Omnes Capital. Its teams had confidence in our management and showed a great deal of patience. At the time, there was no certainty that we would become what we are today. They played a full part on our Supervisory Board, respecting our management team and its responsibilities, without ever getting in its way. They have always been there for us when we needed them – both in good times and in more difficult ones.

What challenges lie ahead for you?

With the OLED market expected to consolidate, it is crucial to build partnerships with materials manufacturers. The acquisition by Cheil Industries represents a step in this direction and will give us the benefit of the group’s investments in the next generation of materials. We look at the future with real optimism, especially since OLED TVs are currently arriving on the market. That should provide a boost to our growth.

Project Company INTERVIEW

novaled-ag

Sector

Retail & Distribution

Entry Date

2010

Exit Date

2013

Business

Co-Investment

Leading cinema operator in Europe

Headquartered in the United-Kingdom, the company is one of the largest operator of multiplex in Europe.

Sector

Retail & Distribution

Entry Date

2006

Exit Date

2013

Buyer

Equistone

Business

Mezzanine Buyout & Growth Capital

Bretèche Industrie

www.breteche.com

Specialist manufacturer of equipment for the agrifood industry

Bretèche Industrie is an industrial group supplying equipment used in the manufacture of food, chemical, pharmaceutical and cosmetic products.

Sector

Consumer goods

Entry Date

2001

Exit Date

2013

Buyer

OPRA

Business

Mid-Cap Buyout & Growth Capital

Orchestra

www.orchestra.fr

Fashion brand and products for children

Founded in 1995, Orchestra is a brand that sells childrenswear and products for children in 20 countries through a network of branches, franchised stores and multi-brand retail outlets. In 2001, Orchestra and Kazibao (the leading online forum for French speaking children) merged to form a major player in the kids universe.

Omnes Capital's exits

Finaero / Groupe STTS

Plista

Emalec

Groupe Melkonian

A family affair

Look back at a cordial and productive partnership

Timeline

CircuLite

Novaled

Good things come to those who wait…

Grow up with Samsung

Bretèche Industrie

Orchestra

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