Cathay-, CM-CIC-backed Minafin in €65m debt refinancing

The refinancing was provided by the group's existing lenders – including senior debt holders Societe Generale – as well as new financiers.

The refinancing was mainly aimed at extending the group's debt repayment period and providing a credit line for acquisitions in order to pursue its international expansion.

Company CEO and founder Frédéric Gauchet is still the controlling shareholder in the group.

Previous funding
CM-CIC supported the group's MBI in 2005, entering the group as minority shareholder.

In November 2011, French-Chinese investor Cathay led an expansion round in the group, acquiring a minority stake. The transaction was valued in Cathay's usual €5-15m investment range, according to unquote" data.

The investment also aimed to back Minafin's acquisition strategy. The group was notably looking at a potential merger with Gilde-backed Novasep, which had recently undergone a capital restructuring, unquote" reported at the time.

Company
A subsidiary of the larger fine chemicals manufacturing group Minakem, Minafin was established in 2005 as a spinout of chemical company SEAC. It specialises in fine chemicals, advanced cosmetology, pharmaceutical intermediates and active pharmaceutical ingredients.

Operating across four manufacturing sites in France, Germany and the US, the group generates revenues of €136m. It employs around 600 people.

People
Minafin – Frédéric Gauchet (CEO).

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• Topics
• Refinancing
• France
• Industrials
• Refinancing
• France
• Cathay Capital
• Credit Mutuel Equity (ex CM-CIC Investissement)