Bain-backed Maisons du Monde aims for €325-385m IPO

The indicative offering price range has been set at €16.50-22.25 per share, which would value the offering at €325-385m. Shares will be available between 16 May and 26 May to domestic and international investors. The IPO, which will take place on Euronext Paris, is scheduled for 27 May.

Bain's holding company for the Maisons du Monde investment and Compagnie Marco will sell their holdings in the business as part of the transaction, accounting for €165-225m of the total offering amount. Another €160m will be raised from the placement of new shares.

The overallotment option has been set at up to 15%. Including the overallotment option, the size of the global offering reaches between €375-440m. 

Proceeds from the transaction will be used to pay back debt and increase the company's financial flexibility, enabling it to implement its development and growth strategy.

Bain Capital acquired the French home decoration and furniture group Maisons du Monde in an SBO valued at around €680m in June 2013, representing 8x the company's EBITDA at the time. Bain beat Axa Private Equity and PAI Partners in the bidding and took over an 80% stake in the deal.

Prior to that, Apax and LBO France had acquired a majority stake in the group in an SBO from Barclays Private Equity in 2008 for €435m.

Maisons du Monde was founded in 1996 by Xavier Marie and is based in Vertou, near Nantes. The company specialises in home decoration and furniture retail and serves customers worldwide.

The group has expanded across Europe since 2003. It operated 262 stores as of December 2015, located in France, Italy, Spain, Belgium, Germany, Switzerland and Luxembourg. It has integrated an e-commerce platform also selling in Austria, the Netherlands, Portugal and the UK.

Maisons du Monde most recently generated €94m of EBITDA from a €699m turnover.

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