Argos Soditic buys Zodiac Milpro in SBO

The GP drew equity for the transaction from its seventh fund, which held a first close on £248m in November 2016. The fund target is £430m.

Oaktree acquired the company in 2013 in a carve-out from its previous owner Zodiac-Marine, making it an independent company. Under the GP's four-year holding, the firm broadened its product offering and geographical presence.

Last month, Argos Soditic acquired a majority stake in Lampe Berger, a French manufacturer of interior perfume products, from Azulis Capital.

Company
Established in 1909 as an airship company, Zodiac Milpro began repurposing the technology for use in boats in 1934. It designs and manufactures inflatables for professionals with specialist requirements such as firemen, sea rescue, coast guards, drug enforcement and special forces.

The firm is headquartered in Paris with production facilities in Australia, Canada, Italy, the UK, the US, Singapore and Spain. It has 20,000 boats in daily use by 80 military forces across the globe and employs 330 staff. The firm generated a turnover of €56m in the financial year from April 2016 to March 2017.

People
Argos Soditic – Louis Godron (partner).
Zodiac Milpro – Marc Lavorata (CEO).
Oaktree – Baptiste Vaissié (managing director).

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