Ixo takes majority stake in Baobag

Baobags' founders fully exit the company.

With the support of the new GPs, Baobag will pursue international expansion, building on the 17% of its overall revenues currently being generated abroad, according to Ixo. The group has already extended its operations to Africa, Asia and North America.

Debt
The transaction was supported by a senior debt package provided by LCL and Caisse d'Epargne.

Company
Founded some 20 years ago and based in Marseille, Baobag sells flexible packaging known as flexible intermediate bulk containers, for the industrial, agriculture and environmental sectors.

According to the company, it currently registers €40m in revenues and €2m in EBITDA, with 50 employees in total.

People
Ixo Private Equity – Olivier Athanase (partner); Hasnaa Hafid (investment director).
BPI France – Romain Fourcade (investment director).

Advisers
Equity – KPMG, Franck Cornut, Vincent Auffray (financial due diligence); Compagnie Juridique, Pierre Andreau, Anouk Delobbe (legal); Assurinco, Stéphane Juan (insurance due diligence); Fidal, Sébastien Peronne (legal); Coluber Conseil, Jean-Luc Couleuvre (legal).
Vendor – Trianon Corporate Finance, Jane Coblence (vendor).

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• Topics
• France
• Industrials
• Buyouts
• France
• iXO Private Equity
• BPI France