Secondary Buyout • Consumer Products

LBO France, NiXEN Partners, Apax and Idinvest Partners Acquire Maisons du Monde

On May 23, 2008, asset manager LBO France, private equity firm NiXEN Partners, private equity firm Apax and private equity firm Idinvest Partners acquired consumer products company Maisons du Monde from Equistone

Acquisition Context
  • This is LBO France’s 3rd, NiXEN Partners’ 2nd, Apax’s 3rd and Idinvest Partners’ 1st transaction in the Consumer Products sector.
  • This is LBO France’s 26th, NiXEN Partners’ 17th, Apax’s 14th and Idinvest Partners’ 16th transaction in France.
Investment Fate
  • Maisons du Monde was sold to a consortium of financial buyers in 2013 for 650M EUR.
  • Maisons du Monde went public in 2016.

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M&A Deal Summary

Date May 23, 2008
Target Maisons du Monde
Sector Consumer Products
Buyer(s) LBO France
NiXEN Partners
Apax
Idinvest Partners
Sellers(s) Equistone
Deal Type Secondary Buyout

Target Company

Maisons du Monde

Vertou, France
Maisons du Monde is a creator of inspirational lifestyle universes in the homeware industry, offering distinctive and affordable decoration and furniture collections that showcase multiple styles. The Group develops its business through an integrated and complementary omnichannel approach, leveraging its international network of stores, websites, and catalogs. Maisons du Monde was founded in 1996 and is based in Vertou, France.
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Buyers Overview 4

Buyer

LBO France

Paris, France

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1985
PE ASSETS 5.4B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

LBO France is an independent private equity group focused on acquiring majority stakes in French firms, or companies with French management. LBO France manages several funds, each targeting different types of businesses. The Firm's mid-market fund looks to acquire majority or minority stakes in companies valued from €100 million to €2.5 billion. The mid-market fund generally looks at companies with predictable sales, profits and cash flow, but will also consider businesses with under-utilized assets. LBO France's small cap fund targets majority stakes in smaller, profitable businesses valued from €10 to €100 million, with strong potential for growth or consolidation. In addition to its equity funds, LBO France also invests in real estate and provides LBO loans issued by medium-sized European companies (enterprise value between €150m and €2bn). LBO France was formed in 1985 and is based in Paris.


Deal Context for Buyer #
Overall 31 of 91
Sector: Consumer Products 3 of 7
Type: Secondary Buyout 11 of 35
Country: France 26 of 75
Year: 2008 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-04-21 Gault et Fremont

St Pierre des Corps, France

Gault et Fremont is a manufacturer of packaging paper and cardboard destined for bakery - pastry (printing, cutting, folding, gluing). Gault & Frémont was established in 1850 and is based in St Pierre des Corps, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-05-30 stow Group

Spiere-Helkijn, Belgium

stow Group manufacturer of customised racking and storage solutions for warehouses. stow Group is involved in the conception, production and installation of storage systems: racks, warehouse automation and metallic furniture. stow Group was founded in 1985 and is based in Spiere-Helkijn, Belgium

Buy -
Buyer

NiXEN Partners

Paris, France

Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 600M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

NiXEN is a French private equity group that targets investments in middle-market companies valued between €30 and €300 million. iXEN looks to invest €20 to €25 million of equity capital to support management buyouts/buy-ins, leveraged build-ups, owner buy-outs (OBOs), and public to private deals. The Firm is a 'hands-on' investment group and will consider opportunities in a variety of sectors, including manufacturing, consumer goods, specialist retailing, restaurants, and services. iXEN is supported by Natixis Private Equity and was formerly known as Natexis Industrie. The Firm was formed in 1998 and is based in Paris.


Deal Context for Buyer #
Overall 18 of 30
Sector: Consumer Products 2 of 2
Type: Secondary Buyout 3 of 8
Country: France 17 of 29
Year: 2008 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-03-27 Malherbe

Rots, France

Malherbe is a provider of goods transportation and chartering services. Malherbe was founded in 1953 and is based in Rots, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-01 DESSANGE International

Paris, France

DESSANGE International operates and franchises a network of salons and beauty institutes in France and internationally. With around 1,600 salons in 47 countries, DESSANGE International bases its growth on the DESSANGE, Camille Albane, Fantastic Sams, and Phytodess brands. DESSANGE International was founded in 1954 and is based in Paris, France.

Sell -
Buyer

Apax

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 77.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apax Partners is a mega-sized private equity investment group, operating across the United States, Europe, Israel and Asia. Broad industry sectors of interest include tech & telecom, media, retail & consumer, healthcare, financial services, and business services. Apax will consider both minority and majority investment positions and prefers companies with strong market positions and growth potential. The Firm generally pursues platform acquisitions valued from $1 to $5 billion. Apax Partners was formed in 1981 and is based in London.


Deal Context for Buyer #
Overall 123 of 266
Sector: Consumer Products 3 of 5
Type: Secondary Buyout 15 of 67
Country: France 14 of 18
Year: 2008 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-04-15 D+S Europe

Hamburg, Germany

D+S Europe specializing in e-commerce and customer contact management solutions for large enterprises, with operations in various countries and a focus on online shops for major brands. D+S Europe was founded in 1984 and is based in Hamburg, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-06-05 Wind Telecom

Rome, Italy

WIND TELECOM S.p.A.(formerly Weather Investments S.p.A.)is an international telecommunications company offering mobile, fixed, internet and international communication services.

Buy €1.0B
Buyer

Idinvest Partners

Paris, France

Category Private Equity Firm
Founded 1997
PE ASSETS 7.6B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Idinvest Partners is a European investment firm focused on investing in small to mid-sized companies at various stages of development. Idinvest segments its investment activity into three groups. These include venture and growth capital, private debt, and dedicated portfolios/funds. Idinvest's venture and growth capital group looks to invest directly in early stage companies with high growth potential. Idinvest's private debt group seeks to provide senior or subordinated debt to small and mid-sized companies pursuing growth objectives. Idinvest's dedicated portfolio/funds group looks to invest in private equity funds, acquire secondary fund positions, and directly co-invest alongside other private equity firms in established companies. Idinvest Partners was formed in 1997 and is based in Paris.


Deal Context for Buyer #
Overall 22 of 78
Sector: Consumer Products 1 of 1
Type: Secondary Buyout 3 of 7
Country: France 16 of 56
Year: 2008 4 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-02-15 Altamira Therapeutics

Hamilton, Bermuda

Altamira Therapeutics is a biopharmaceutical company dedicated to developing therapeutics that address important unmet medical needs in otology. Altamira Therapeutics was founded in 2003 and is based in Hamilton, Bermuda.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-05-27 MeilleureGestion Information

Santa Clara, France

MeilleureGestion Information provides human resources & payroll solution. MeilleureGestion Information is based in Santa Clara, France.

Buy -

Seller Profile 1

SELLER

Equistone

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 9.6B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Equistone is a private equity firm that invests in small to mid-sized companies valued from €50 to €500 million. Equistone targets companies operating in the fields of services, healthcare, financial services, and consumer/travel. The Firm looks to invest €25 to €200 million in a variety of transactions, including buyouts, growth capital financings, recapitalizations, and take privates. Equistone was formed in 1997 and is based in London, United Kingdom.


Deal Context for Seller #
Overall 79 of 206
Sector: Consumer Products 6 of 13
Type: Secondary Buyout 31 of 96
Country: France 26 of 62
Year: 2008 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-04-30 A-Plan

Witney, United Kingdom

A-Plan Ltd. is a UK specialist multichannel insurance broking group with a focus on personal lines and a growing presence in specialized products such as SME policies. The group’s core proposition is a branch-led, service-driven offering, valued by its large base of loyal customers that today make up over 1.5 million policies nationally. A-Plan was formed in 1963 and is based in Witney, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-06-02 Novem Car Interior Design

Vorbach, Germany

Novem Car Interior Design is the supplier for interior wood trim components in the automotive sector. Its products are designed to be fitted to the car interior as fully finished components and are manufactured primarily using pressing, sanding, and lacquering techniques and processes. Novem Car Interior Design was founded in 1947 and is based in Vorbach, Germany.

Buy -